Two-Building Office
For Sale
$5,850,000
7802 7806 W Jefferson Boulevard, Fort Wayne, IN 46804
Two office buildings with existing company tenants and potential for separate acquisition.
Property Size18,740 SF
Price / SF$312.17
Days on Market11
Property Features for 7802 7806 W Jefferson Boulevard
General Information
Standard status
Active
Size
18,740 SF
Building Details
Year Built
1997
Tenancy
Multi
Listing Agency:
CENTURY 21 Bradley Realty, Inc
(260) 403-8451
Listed By:
Dennis Worman · License #RB14042779
Source:
Theferrellgroupkw
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 25 at 5:39AM
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 office property comprises two buildings totaling 18,740 square feet. Constructed in 1997, the buildings are currently leased to operating companies, providing an established office setting for occupants.
The property is located at 7802 and 7806 W Jefferson Boulevard in Fort Wayne, Indiana. The buildings may be acquired separately if a buyer prefers to divide the offering, subject to the applicable transaction structure.
The property is located at 7802 and 7806 W Jefferson Boulevard in Fort Wayne, Indiana. The buildings may be acquired separately if a buyer prefers to divide the offering, subject to the applicable transaction structure.
Key Highlights
- Two office buildings totaling 18,740 square feet
- Existing company tenants currently leasing the buildings
- Built in 1997
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
$206,782
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
3.53%
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%
$4,135,640
$4.1M
Cap Rate 7%
$2,954,029
$3.0M
Cap Rate 9%
$2,297,578
$2.3M
Market Conditions
NOI Build-Up for 18,740 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
$319.3K $17.04/SF
− Vacancy
−$43.6K −$2.33/SF
EGI
$275.7K $14.71/SF
− OpEx
−$68.9K −$3.68/SF
NOI
$206.8K $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%
$4,135,640
Cap Rate 7%
$2,954,029
Cap Rate 9%
$2,297,578
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.45M
NOI $206,782 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$15.66M
$13.70M – $18.26M
NOI $1,095,851 @ 7.0% cap · market cap 18.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,527
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?
Office building - Two office buildings with existing company tenants and potential for separate acquisition.
Where is this office building located?
The property is located at 7802 7806 W Jefferson Boulevard Fort Wayne, IN.
What is the asking price?
The asking price for this property is $5,850,000.
What are key features of this property?
This property features: Two office buildings totaling 18,740 square feet; Existing company tenants currently leasing the buildings; Built in 1997
