Office Building For
For Sale
Contact for pricing
6721 Old Trail Road, Fort Wayne, IN 46809
12,310 SF office building available for purchase.
Property Size12,310 SF
Price / SF$146.22
Days on Market176
Property Features for 6721 Old Trail Road
General Information
Standard status
Active
Size
12,310 SF
Class
B
Property subtype
Office
Zoning
C3/General Commercial
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$116,000
Building Details
Year Built
1960
Year Renovated
2007
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
The Zacher Company
(260) 422-8474
Listed By:
Evan Rubin · License #IN RB16000634
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 29 at 10:46AM
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 The Zacher Company
Investment Insights
Based on property information with market context.
This is a 12,310 square foot office building available for sale.
Key Highlights
- 12,310 SF Office Building for sale
- Office Building
- 12,310 SF
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
$135,832
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
7.55%
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%
$2,716,640
$2.7M
Cap Rate 7%
$1,940,457
$1.9M
Cap Rate 9%
$1,509,244
$1.5M
Market Conditions
NOI Build-Up for 12,310 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
$209.8K $17.04/SF
− Vacancy
−$28.7K −$2.33/SF
EGI
$181.1K $14.71/SF
− OpEx
−$45.3K −$3.68/SF
NOI
$135.8K $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%
$2,716,640
Cap Rate 7%
$1,940,457
Cap Rate 9%
$1,509,244
Alternative Uses
Best Use
Office B
$1.94M
$1.70M – $2.26M
NOI $135,832 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$10.28M
$9.00M – $12.00M
NOI $719,847 @ 7.0% cap · market cap 39.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 46809, IN
8,946
Population
4,116
Households
2.2
Avg Household Size
40
Median Age
14%
College-Educated
90%
High-School Grad
24.7 sq mi
ZIP Area
362
Density / Sq Mi
$54,362
Median Household Income
$37,988
Median Earnings
$804
Median Rent
$122,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 12,310 SF office building available for purchase.
Where is this office building located?
The property is located at 6721 Old Trail Road Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 12,310 SF Office Building for sale; Office Building; 12,310 SF
