Equipped Restaurant
For Sale
Contact for pricing
4111 Parnell Avenue, Fort Wayne, IN 46805
Existing restaurant improvements occupy a shopping-center-zoned commercial property in Fort Wayne.
Property Size6,257 SF
Lot Size2.03 Acres
Price / SF$203.77
Days on Market83
Property Features for 4111 Parnell Avenue
General Information
Standard status
Active
Size
6,257 SF
Lot size
2.03 Acres
Property subtype
Retail
Zoning
Shopping Center
Investment Type
Redevelopment
Building Details
Year Built
1981
Stories
1
Listing Agency:
Sturges Property Group
Listed By:
Neal Bowman · License #IN RB14026402
(260) 424-8448
Source:
Crexi
Added: Jul 24
Changed: Oct 6
Last Checked: Oct 12 at 8:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sturges Property Group
Investment Insights
Based on property information with market context.
This Fort Wayne restaurant property includes 6,257 square feet of existing improvements configured for restaurant use. The building is currently equipped for operations, providing an established physical setting for a restaurant user or owner-operator.
The property encompasses 2.03 acres and carries SC—Shopping Center zoning. Located at 4111 Parnell Ave, the site combines a substantial commercial land area with an existing restaurant building and installed equipment.
The property encompasses 2.03 acres and carries SC—Shopping Center zoning. Located at 4111 Parnell Ave, the site combines a substantial commercial land area with an existing restaurant building and installed equipment.
Key Highlights
- 6,257‑square‑foot restaurant building
- 2.03‑acre commercial property
- SC—Shopping Center zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,279
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,385,580
$1.4M
Cap Rate 7%
$989,700
$989.7K
Cap Rate 9%
$769,767
$769.8K
Market Conditions
NOI Build-Up for 6,257 SF
Gross rent
$99.9K $15.96/SF
− Vacancy
−$7.5K −$1.20/SF
EGI
$92.4K $14.76/SF
− OpEx
−$23.1K −$3.69/SF
NOI
$69.3K $11.07/SF
Area
Fort Wayne, IN
Vacancy
7.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,385,580
Cap Rate 7%
$989,700
Cap Rate 9%
$769,767
Alternative Uses
Best Use
Specialty Retail
$989.7K
$866.0K – $1.15M
NOI $69,279 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.23M
$4.57M – $6.10M
NOI $365,888 @ 7.0% cap · market cap 28.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46805, IN
21,138
Population
10,742
Households
2
Avg Household Size
35
Median Age
27%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
3,303
Density / Sq Mi
$50,099
Median Household Income
$37,294
Median Earnings
$858
Median Rent
$131,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant improvements occupy a shopping-center-zoned commercial property in Fort Wayne.
Where is this conventional restaurant located?
The property is located at 4111 Parnell Avenue Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 6,257‑square‑foot restaurant building; 2.03‑acre commercial property; SC—Shopping Center zoning
