Office Property Near University
5308 St Joe Rd Fort Wayne, IN 46835
5308 St Joe Rd, Fort Wayne, IN, 46835
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For Sale
Contact for pricing
1,451 SF office space near Purdue and IU Fort Wayne.
Property Size1,451 SF
Price / SF$223.98
Days on Market1182
Property Features for 5308 St Joe Rd
General Information
- Standard status
- Active
- Size
- 1,451 SF
- Property subtype
- Office
Building Details
- Year Built
- 1950
Listing agency
Bradley Company Fort Wayne
(260) 755-7816
Listed by
Chad Voglewede · License #IN RB21002632
Source
Crexi
Added: Apr 27, 2023 Updated: Jul 6 at 7:50AM Checked: Jul 21 at 2:33PM
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
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).
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.7k | $17.04 |
| − Vacancy | −$3.4k | −$2.33 |
| EGI | $21.3k | $14.71 |
| − OpEx | −$5.3k | −$3.68 |
| NOI | $16.0k | $11.03 |
1,451 SF · lease $17.04/SF/yr · vacancy 13.66% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - 1,451 SF office space near Purdue and IU Fort Wayne.
Where is this office units 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).
