Restaurant Opportunity Near
8607 US-24 Fort Wayne, IN 46804
8607 US-24, Fort Wayne, IN, 46804
Contact for pricing
For Sale
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5,679 SF restaurant with fully-furnished kitchen near I-69.
Property Size5,679 SF
Price / SF$211.30
Days on Market1361
Property Features for 8607 US-24
General Information
- Standard status
- Active
- Size
- 5,679 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2000
Listing Agency
Sturges Property Group
(260) 424-8448
Listed by
Neal Bowman · License #IN RB14026402
Source
Crexi
Added: Oct 26, 2022 Checked: Jul 17 at 6:19 am
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 Sturges Property Group
Investment Insights
Based on property information with market context.
This 5,679 SF restaurant is available for purchase and includes a fully-furnished kitchen equipped with grills, ranges, deep fryers, ovens, a walk-in cooler and freezer, and two hoods. The property benefits from its location in a busy retail trade area, offering excellent visibility to I-69 through pylon and building signage. It also provides convenient access to US 24/West Jefferson Boulevard and I-69 via Exit 302. The site is located directly adjacent to two hotels with low vacancy rates. Situated in southwest Fort Wayne, an area known for its shopping centers, subdivisions, and hotels, the property is positioned on the corner of two major thoroughfares. The intersection experiences heavy traffic, with approximately 33,000 vehicles per day on West Jefferson Boulevard/US 24 and 39,000 vehicles per day on I-69.
Key Highlights
- High traffic location: Corner of two major thoroughfares with significant daily vehicle count.
- Excellent visibility to I‑69 via pylon and building signage.
- Fully‑furnished kitchen including grills, deep fryers, ovens, walk‑in cooler and freezer.
Local Financial Insights For Specialty Retail
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 | $90.6k | $15.96 |
| − Vacancy | −$6.8k | −$1.20 |
| EGI | $83.8k | $14.76 |
| − OpEx | −$21.0k | −$3.69 |
| NOI | $62.9k | $11.07 |
5,679 SF · lease $15.96/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$898.3K
$786.0K – $1.05M
NOI $62,879 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.74M
$4.15M – $5.53M
NOI $332,089 @ 7.0% cap · market cap 27.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
Similar Off Market Nearby
- 4 Star Buffet — 6324 constitution dr, fort wayne, in 46804
FAQs
What type of property is this?
Conventional restaurant - 5,679 SF restaurant with fully-furnished kitchen near I-69.
Where is this conventional restaurant located?
The property is located at 8607 US-24 Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High traffic location: Corner of two major thoroughfares with significant daily vehicle count.; Excellent visibility to I‑69 via pylon and building signage.; Fully‑furnished kitchen including grills, deep fryers, ovens, walk‑in cooler and freezer.
