Imaging Center NNN
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For Sale
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7631 West Jefferson Boulevard, Fort Wayne, IN 46804
Medical imaging facility subject to a Triple Net lease with scheduled annual increases.
Property Size7,524 SF
Lot Size2.00 Acres
Price / SF$365.50
Days on Market5
Property Features for 7631 West Jefferson Boulevard
General Information
Standard status
Active
Size
7,524 SF
Net Rentable
7,524 SF
Lot size
2.00 Acres
Property subtype
Retail, Office, Land
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$158,004
Additional Details
Gross Income
$158,004
Building Details
Year Built
1992
Tenancy
Single
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Ryan Duffy · License #NY: 10401294060
Source:
Crexi
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 7:44AM
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 SURMOUNT
Investment Insights
Based on property information with market context.
This NNN property includes approximately 7,524 rentable square feet of building area on an estimated 2-acre parcel. The improvements were constructed in 1992 and are identified as an imaging center, providing a specialized commercial facility rather than conventional office space.
The property is located at 7631 West Jefferson Boulevard in Fort Wayne, Indiana. A 10.01-year Triple Net lease commenced 7/1/2026 and includes scheduled annual increases of 2.50%. The lease structure places the asset within a defined NNN investment format while retaining the existing imaging-center use and site configuration.
The property is located at 7631 West Jefferson Boulevard in Fort Wayne, Indiana. A 10.01-year Triple Net lease commenced 7/1/2026 and includes scheduled annual increases of 2.50%. The lease structure places the asset within a defined NNN investment format while retaining the existing imaging-center use and site configuration.
Key Highlights
- Approximately 7,524 rentable square feet on an estimated 2‑acre parcel
- 10.01‑year Triple Net (NNN) lease commenced 7/1/2026
- Scheduled annual lease increases of 2.50%
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
$83,022
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
3.02%
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%
$1,660,440
$1.7M
Cap Rate 7%
$1,186,029
$1.2M
Cap Rate 9%
$922,467
$922.5K
Market Conditions
NOI Build-Up for 7,524 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
$128.2K $17.04/SF
− Vacancy
−$17.5K −$2.33/SF
EGI
$110.7K $14.71/SF
− OpEx
−$27.7K −$3.68/SF
NOI
$83.0K $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%
$1,660,440
Cap Rate 7%
$1,186,029
Cap Rate 9%
$922,467
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.38M
NOI $83,022 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.29M
$5.50M – $7.33M
NOI $439,978 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,511
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
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Frequently Asked Questions
What type of property is this?
NNN property - Medical imaging facility subject to a Triple Net lease with scheduled annual increases.
Where is this nnn property located?
The property is located at 7631 West Jefferson Boulevard Fort Wayne, IN.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Approximately 7,524 rentable square feet on an estimated 2‑acre parcel; 10.01‑year Triple Net (NNN) lease commenced 7/1/2026; Scheduled annual lease increases of 2.50%
