Office Property Near University
For Sale
Contact for pricing
5308 St Joe Rd, Fort Wayne, IN 46835
1,451 SF office space near Purdue and IU Fort Wayne.
Property Size1,451 SF
Price / SF$223.98
Days on Market1277
Property Features for 5308 St Joe Rd
General Information
Standard status
Active
Size
1,451 SF
Class
B
Total Parking Spaces
5
Property subtype
Office
Zoning
R1
Investment Type
Owner/User
Building Details
Year Built
1950
Year Renovated
1986
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Bradley Company Fort Wayne
Listed By:
Chad Voglewede · License #IN RB21002632
(260) 639-3377
Source:
Crexi
Added: Apr 27, 2023
Changed: Oct 21
Last Checked: Oct 23 at 6:51AM
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 Bradley Company Fort Wayne
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,451 SF office property is located on the north side of Fort Wayne, conveniently situated within walking distance of Purdue Fort Wayne and IU Fort Wayne campuses, as well as the north campus of Ivy Tech. Canterbury Green Golf Course and Market Place of Canterbury are also a short walk away, offering golfing and a variety of shopping and dining options. Furthermore, Canterbury Green Apartments and St. Joe Place, both popular student housing options, are positioned very close by.
Key Highlights
- 1,451 SF office property.
- Walking distance to Purdue Fort Wayne, IU Fort Wayne, and Ivy Tech campuses.
- Proximity to Canterbury Green Golf Course and Market Place of Canterbury (shopping and dining).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,011
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,220
$320.2K
Cap Rate 7%
$228,729
$228.7K
Cap Rate 9%
$177,900
$177.9K
Market Conditions
NOI Build-Up for 1,451 SF
Gross rent
$24.7K $17.04/SF
− Vacancy
−$3.4K −$2.33/SF
EGI
$21.3K $14.71/SF
− OpEx
−$5.3K −$3.68/SF
NOI
$16.0K $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 Rate 5%
$320,220
Cap Rate 7%
$228,729
Cap Rate 9%
$177,900
Alternative Uses
Best Use
Office B
$228.7K
$200.1K – $266.9K
NOI $16,011 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,850 @ 7.0% cap · market cap 26.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 46835, IN
36,653
Population
15,945
Households
2.3
Avg Household Size
37
Median Age
37%
College-Educated
96%
High-School Grad
21.6 sq mi
ZIP Area
1,697
Density / Sq Mi
$75,595
Median Household Income
$42,118
Median Earnings
$1,101
Median Rent
$194,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - 1,451 SF office space near Purdue and IU Fort Wayne.
Where is this office unit located?
The property is located at 5308 St Joe Rd Fort Wayne, IN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,451 SF office property.; Walking distance to Purdue Fort Wayne, IU Fort Wayne, and Ivy Tech campuses.; Proximity to Canterbury Green Golf Course and Market Place of Canterbury (shopping and dining).
