NNN Retail Strip
5430 - 5462 Coldwater Rd, Fort Wayne, IN 46825
Four-tenant NNN retail center anchored by a liquor store, positioned on a high-volume, signalized corridor.
Type:Retail
Property size:
19,245 SFPrice / SF:
$139/SF- Added:
- Jun 12, 2026
- Days on Market:
- 16
- Last Refresh:
- Jun 20 at 3:09 am
Property Features for 5430 - 5462 Coldwater Rd
General Information
- Standard status
- Active
- Size
- 19,245 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1980
Listing office Marcus & Millichap - Indianapolis
Listing date Jun 12, 2026
Source Crexi
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 Marcus & Millichap - Indianapolis
HighLights
- 100% occupied four‑tenant NNN retail center built in 1980
- Anchored by Big Red Liquors, with Cap N' Cork operations acquired in 2021; Cap N' Cork has been an original tenant since 1980
- 36,212 VPD along Coldwater Road; located at a signalized intersection about one mile from I‑69 (75,298 VPD)
- All leases are NNN; property offers below‑market NNN average rent of $11.58 per SF near Glenbrook Square Mall
- Boudoir Noir has been a tenant since 2011 and signed a new five‑year lease extension with a 15% rental increase
- Features include a large pylon sign, a metal standing seam roof, and ingress/egress to Coldwater Road
Overview
This four-tenant retail strip center is fully occupied and structured as a triple-net (NNN) investment. The property is located at 5430–5462 Coldwater Rd and includes features such as a large pylon sign and a metal standing seam roof. The center benefits from established tenancy including Cap N' Cork, an original tenant at Coldwater Plaza since 1980. Big Red Liquors guarantees the liquor store lease and acquired the Cap N' Cork operations in 2021, and the center also lists additional tenants including Boudoir Noir (since 2011 with a new five-year lease extension) and Indy Smoketime.
The property sits on Coldwater Road, one of Fort Wayne’s primary retail corridors with reported 36,212 VPD. It is located at a signalized intersection near major retail demand drivers, including Glenbrook Square Mall (reported 3.8 million visitors per year). The remarks also cite nearby anchors and adjacent retail activity that supports consumer traffic.
For tenants and operators seeking a stable, income-oriented retail platform, this center’s NNN structure, long-tenured anchor relationship, and fully leased lineup provide an immediately operational setup. The listing also highlights practical site access with excellent ingress/egress to Coldwater Road, positioning the property for straightforward customer arrival and circulation.
The property sits on Coldwater Road, one of Fort Wayne’s primary retail corridors with reported 36,212 VPD. It is located at a signalized intersection near major retail demand drivers, including Glenbrook Square Mall (reported 3.8 million visitors per year). The remarks also cite nearby anchors and adjacent retail activity that supports consumer traffic.
For tenants and operators seeking a stable, income-oriented retail platform, this center’s NNN structure, long-tenured anchor relationship, and fully leased lineup provide an immediately operational setup. The listing also highlights practical site access with excellent ingress/egress to Coldwater Road, positioning the property for straightforward customer arrival and circulation.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $288.7k | $15.00 |
| − Vacancy | −$24.5k | −$1.28 |
| EGI | $264.1k | $13.73 |
| − OpEx | −$79.2k | −$4.12 |
| NOI | $184.9k | $9.61 |
19,245 SF · lease $15.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.64M
$2.31M – $3.08M
NOI $184,896 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$16.08M
$14.07M – $18.76M
NOI $1,125,382 @ 7.0% cap · market cap 42.01%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Cap n' Cork
(Bike/Boat/Book/etc) Store
Cash2Bitcoin Bitcoin ATM
Atm
Location Insight
- Map
- Local Demand
- City
- Fort Wayne
- County
- Allen
- State
- Indiana
- Longitude
- -85.1353856
- Latitude
- 41.1293756
Nearby Similar for Sale
FAQs
What type of property is this?
Strip mall - Four-tenant NNN retail center anchored by a liquor store, positioned on a high-volume, signalized corridor.
Where is this strip mall located?
The property is located at 5430 - 5462 Coldwater Rd Fort Wayne, IN.
What is the asking price?
The asking price for this property is $2,678,911.
What are key features of this property?
This property features: 100% occupied four‑tenant NNN retail center built in 1980; Anchored by Big Red Liquors, with Cap N' Cork operations acquired in 2021; Cap N' Cork has been an original tenant since 1980; 36,212 VPD along Coldwater Road; located at a signalized intersection about one mile from I‑69 (75,298 VPD)
