Warehouse/Office Space in Wells
1441 Wells St Fort Wayne, IN 46808
1441 Wells St, Fort Wayne, IN, 46808
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For Sale
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Historic building with warehouse and office space near downtown.
Property Size4,960 SF
Price / SF$85.69
Days on Market1933
Property Features for 1441 Wells St
General Information
- Standard status
- Active
- Size
- 4,960 SF
- Property subtype
- Industrial, Mixed Use
Building Details
- Year Built
- 1900
Listing Agency
Sturges Property Group
(260) 424-8448
Listed by
Neal Bowman · License #IN RB14026402
Source
Crexi
Added: Apr 6, 2021 Updated: Jul 10 at 11:22 am Checked: Jul 19 at 8:07 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.
Located in the Wells Street Corridor, at the corner of 4th and Wells, this historic building offers a combination of warehouse and office space. Originally a theatre, the property includes 1,873 square feet of office space and 3,087 square feet of warehouse space, totaling 4,960 square feet. The warehouse area features a clear-span layout and a 12-foot by 10-foot overhead door accessible from 4th Street. Parking and outdoor storage options are available at the rear of the building. Benefiting from high visibility on Wells Street, the property sees approximately 15,000 vehicles passing by daily. Its location is approximately 0.5 miles north of Downtown Fort Wayne, near the new riverfront development and the future River North mixed-use project. The property is suitable for various uses, including a music hall, entertainment venue, corner pub, billiard room, gaming lounge, arcade, art gallery, glass-blowing or wood-working showroom, or creative workspace.
Key Highlights
- Prime location: just 0.5 miles from Downtown Fort Wayne, close to riverfront development and River North project.
- Versatile space: features 1,873 SF office and 3,087 SF warehouse suitable for various uses.
- Warehouse features clear‑span space and a 12’ x 10’ overhead door.
Local Financial Insights For Industrial
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 | $44.6k | $9.00 |
| − Vacancy | −$2.2k | −$0.45 |
| EGI | $42.4k | $8.55 |
| − OpEx | −$12.7k | −$2.56 |
| NOI | $29.7k | $5.98 |
4,960 SF · lease $9.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$781.9K
$684.1K – $912.2K
NOI $54,730 @ 7.0% cap · market cap 12.88%
Second Best
Mixed Use
$725.4K
$634.7K – $846.3K
NOI $50,778 @ 7.0% cap · market cap 11.95%
Theoretical Best
Multifamily LT 5
$4.14M
$3.63M – $4.83M
NOI $290,044 @ 7.0% cap · market cap 68.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Wellness Water Filtration ...
Home Appliance Store
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FAQs
What type of property is this?
Mixed-use property - Historic building with warehouse and office space near downtown.
Where is this mixed-use property located?
The property is located at 1441 Wells St Fort Wayne, IN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime location: just 0.5 miles from Downtown Fort Wayne, close to riverfront development and River North project.; Versatile space: features 1,873 SF office and 3,087 SF warehouse suitable for various uses.; Warehouse features clear‑span space and a 12’ x 10’ overhead door.
