16-Room Motel
For Sale
$1,188,000
5634 W Jefferson Boulevard, Fort Wayne, IN 46804
Current professional business and apartment uses occupy a flexible hospitality-oriented building.
Property Size7,920 SF
Price / SF$150
Days on Market14
Property Features for 5634 W Jefferson Boulevard
General Information
Standard status
Active
Size
7,920 SF
Building Details
Year Built
1964
Listing Agency:
CENTURY 21 Bradley Realty, Inc
(260) 403-8451
Listed By:
Dennis Worman · License #RB14042779
Source:
Callcriswell
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 29 at 7:31PM
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 CENTURY 21 Bradley Realty, Inc
Investment Insights
Based on property information with market context.
This motel-oriented property is configured for 16 rooms and currently accommodates professional business and apartment uses. The existing layout includes separate upper- and lower-floor bathroom counts, with 4 bathrooms upstairs and 9 bathrooms downstairs.
Access is provided from both the front and back lots. Constructed in 1964, the property is located at 5634 W Jefferson Boulevard in Fort Wayne, Indiana.
Access is provided from both the front and back lots. Constructed in 1964, the property is located at 5634 W Jefferson Boulevard in Fort Wayne, Indiana.
Key Highlights
- Configured for 16 motel rooms
- Currently used for professional business and apartment purposes
- Upper floor includes 4 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$87,391
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,747,820
$1.7M
Cap Rate 7%
$1,248,443
$1.2M
Cap Rate 9%
$971,011
$971.0K
Market Conditions
NOI Build-Up for 7,920 SF
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.
Gross rent
$135.0K $17.04/SF
− Vacancy
−$18.4K −$2.33/SF
EGI
$116.5K $14.71/SF
− OpEx
−$29.1K −$3.68/SF
NOI
$87.4K $11.03/SF
Area
Fort Wayne, IN
Vacancy
13.66%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,747,820
Cap Rate 7%
$1,248,443
Cap Rate 9%
$971,011
Alternative Uses
Best Use
Apartment 5plus
$5.94M
$5.19M – $6.93M
NOI $415,518 @ 7.0% cap · market cap 34.98%
Second Best
Office B
$1.25M
$1.09M – $1.46M
NOI $87,391 @ 7.0% cap · market cap 7.36%
Theoretical Best
Multifamily LT 5
$6.62M
$5.79M – $7.72M
NOI $463,135 @ 7.0% cap · market cap 38.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46804, IN
28,800
Population
12,959
Households
2.2
Avg Household Size
40
Median Age
44%
College-Educated
96%
High-School Grad
17.7 sq mi
ZIP Area
1,627
Density / Sq Mi
$84,778
Median Household Income
$49,050
Median Earnings
$1,134
Median Rent
$241,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Painting with a Twist — 6425 W Jefferson Blvd, Fort Wayne, IN 46804
- Leverage Event Center — 6179 W Jefferson Blvd, Fort Wayne, IN 46804
- Mitchell's Sideline — 6107 W Jefferson Blvd, Fort Wayne, IN 46804
Frequently Asked Questions
What type of property is this?
Motel - Current professional business and apartment uses occupy a flexible hospitality-oriented building.
Where is this motel located?
The property is located at 5634 W Jefferson Boulevard Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,188,000.
What are key features of this property?
This property features: Configured for 16 motel rooms; Currently used for professional business and apartment purposes; Upper floor includes 4 bathrooms
