Single-Story Office
For Sale
Contact for pricing
7559 West Jefferson Boulevard, Fort Wayne, IN 46804
The property includes two tenant spaces within a single-level office layout.
Property Size11,020 SF
Lot Size1.24 Acres
Price / SF$149.73
Days on Market8
Property Features for 7559 West Jefferson Boulevard
General Information
Standard status
Active
Size
11,020 SF
Class
A
Lot size
1.24 Acres
Property subtype
Office
Zoning
C-1
Occupancy
50%
Lease Type
NNN
Additional Details
Asking Price
$1,650,000
Highway Access
Yes
Office Units
2
Building Details
Year Built
2004
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Building Size
11,020 SF
Listing Agency:
BND Commercial Real Estate
Listed By:
David Norton · License #IN
Source:
Crexi
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 10 at 4:04PM
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 BND Commercial Real Estate
Investment Insights
Based on property information with market context.
Built in 2004, this 11,020-square-foot office property occupies 1.24 acres and is arranged as a single-story building with two tenant spaces. One space includes an established anchor tenant, while the building’s setting provides views toward a pond. C-1 zoning supports its office classification.
The property is positioned within an office park with access to I-69 and downtown Fort Wayne. Jefferson Boulevard frontage carries a reported traffic volume of 25,903 VPD, adding measurable exposure to the site. The combination of divisible tenant areas, office-park placement, and established tenancy creates a clearly defined commercial configuration.
The property is positioned within an office park with access to I-69 and downtown Fort Wayne. Jefferson Boulevard frontage carries a reported traffic volume of 25,903 VPD, adding measurable exposure to the site. The combination of divisible tenant areas, office-park placement, and established tenancy creates a clearly defined commercial configuration.
Key Highlights
- 11,020 SF single‑story office building on 1.24 acres
- Two tenant spaces, including one with an established anchor tenant
- C‑1 zoning
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
$121,597
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
7.37%
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%
$2,431,940
$2.4M
Cap Rate 7%
$1,737,100
$1.7M
Cap Rate 9%
$1,351,078
$1.4M
Market Conditions
NOI Build-Up for 11,020 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
$187.8K $17.04/SF
− Vacancy
−$25.7K −$2.33/SF
EGI
$162.1K $14.71/SF
− OpEx
−$40.5K −$3.68/SF
NOI
$121.6K $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%
$2,431,940
Cap Rate 7%
$1,737,100
Cap Rate 9%
$1,351,078
Alternative Uses
Best Use
Office B
$1.74M
$1.52M – $2.03M
NOI $121,597 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$9.21M
$8.06M – $10.74M
NOI $644,412 @ 7.0% cap · market cap 39.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - The property includes two tenant spaces within a single-level office layout.
Where is this office building located?
The property is located at 7559 West Jefferson Boulevard Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 11,020 SF single‑story office building on 1.24 acres; Two tenant spaces, including one with an established anchor tenant; C‑1 zoning
