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    Fort Wayne Commercial Property Opportunity Title is generated by Realmo AI

    1201 W Main St, Fort Wayne, IN 46808

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    Prime commercial property in Fort Wayne's historic Main Street district.

    Type:Retail
    Property size:
    1,800 SF
    Price / SF:
    $125/SF
    Added:
    Oct 30, 2024
    Days on Market:
    575
    Last Refresh:
    May 12 at 10:48 pm

    Property Features for 1201 W Main St

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Santino Zurzolo
    Santino Zurzolo

    Listing agent Santino Zurzolo License #IN RB23001926

    Listing office Corporate Commercial Group

    Listing date Oct 30, 2024

    Source Crexi

    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 Corporate Commercial Group

    HighLights

    • APPROVED Downtown dining district license available, allowing unparalleled flexibility for drink service.
    • Prime location in Fort Wayne's historic Main Street district, a popular destination with high foot traffic and visibility.
    • Situated in a rapidly growing area benefiting from hundreds of millions in downtown redevelopment and new residential developments.
    • Ideal for an owner‑operated bar/restaurant or a rentable investment property.
    • Includes real estate and equipment (excluding sound system).
    • Property was operational as a bar as of 9/1/25 and current on all inspections and licensing.

    Overview

    This commercial property is located in the heart of Fort Wayne’s historic Main Street district, amid a mix of bars, restaurants, and attractions. Main Street's walkability provides businesses with foot traffic and visibility. Downtown redevelopment has transformed the area into a thriving metropolis. A new apartment complex is currently under construction just blocks away, complete with an incoming restaurant. The property is suited for an owner-operated bar, restaurant, or a rentable investment. The transaction includes the real estate and equipment (excluding the sound system). The property size is 1800 square feet. An approved Downtown dining district license is available, granting flexibility for drink service. The bar was operational as of 09/01/25. The business was current on all county inspections and state licensing and was fully operational.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $221.4K
    NOI $19,930 @ 9.00% cap · cautious / downside scenario
    Moderate
    $284.7K
    NOI $19,930 @ 7.00% cap · market / base-case scenario
    Aggressive
    $398.6K
    NOI $19,930 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $28.7k $15.96
    − Vacancy −$2.2k −$1.20
    EGI $26.6k $14.76
    − OpEx −$6.6k −$3.69
    NOI $19.9k $11.07
    1,800 SF · lease $15.96/SF/yr · vacancy 7.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $284.7K
    $249.1K – $332.2K (±1% cap)
    NOI $19,930 @ 7.0% cap · market cap 8.86%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $1.50M
    $1.32M – $1.75M (±1% cap)
    NOI $105,258 @ 7.0% cap · market cap 46.78%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Ruin Bar & Pub

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • The Kitchen & Company - Fort Wayne — 1620 Broadway, Fort Wayne, IN 46802
    • Local Apple Cart — 1622 Broadway Suite 116, Fort Wayne, IN 46805
    • The Charlie Horse — 1620 Broadway, Fort Wayne, IN 46802
    • The Brass Rail — 1121 Broadway, Fort Wayne, IN 46802
    • Rock Tavern — 1916 Broadway, Fort Wayne, IN 46802

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1569186
    Latitude
    41.0785511

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    FAQs

    What type of property is this?
    Bar & Pub - Prime commercial property in Fort Wayne's historic Main Street district.
    Where is this bar & pub located?
    The property is located at 1201 W Main St Fort Wayne, IN.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: APPROVED Downtown dining district license available, allowing unparalleled flexibility for drink service.; Prime location in Fort Wayne's historic Main Street district, a popular destination with high foot traffic and visibility.; Situated in a rapidly growing area benefiting from hundreds of millions in downtown redevelopment and new residential developments.
    (317) 502-3622 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Santino Zurzolo
    Santino Zurzolo
    Real Estate License ID: IN RB23001926
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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