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6282 W Jefferson Blvd, Fort Wayne, IN 46804
Restaurant with long-term tenant in Fort Wayne, Indiana.
Property Size7,650 SF
Price / SF$205.88
Days on Market2572
Property Features for 6282 W Jefferson Blvd
General Information
Standard status
Active
Size
7,650 SF
Class
A
Total Parking Spaces
51
Property subtype
Retail
Zoning
C-2 (Limited Commercial)
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
1969
Year Renovated
2014
Buildings
1
Tenancy
Multi
Listing Agency:
Xplor Commercial Real Estate
(260) 487-3699
Listed By:
Kienan O'Rourke · License #IN RB14051217
Source:
Crexi
Added: Aug 16, 2019
Changed: Aug 24
Last Checked: Aug 29 at 12:17AM
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 Xplor Commercial Real Estate
Investment Insights
Based on property information with market context.
This property presents an investment opportunity with a newly signed long-term tenant. The tenant, Wild Crab Cajun Seafood and Bar, is a New Orleans style seafood boil restaurant that emphasizes fresh seafood and locally sourced produce. This will be their second location in Indiana, with the opening scheduled for winter 2021. The tenant has signed a long-term lease with options for renewal. The property is 7650 square feet and is suitable for conventional restaurants, retail space, and other commercial real estate ventures.
Key Highlights
- Newly signed long‑term lease provides stable, predictable income.
- Reputable tenant: Wild Crab Cajun Seafood and Bar.
- Tenant has options for lease renewal.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,703
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,694,060
$1.7M
Cap Rate 7%
$1,210,043
$1.2M
Cap Rate 9%
$941,144
$941.1K
Market Conditions
NOI Build-Up for 7,650 SF
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.
Gross rent
$122.1K $15.96/SF
− Vacancy
−$9.2K −$1.20/SF
EGI
$112.9K $14.76/SF
− OpEx
−$28.2K −$3.69/SF
NOI
$84.7K $11.07/SF
Area
Fort Wayne, IN
Vacancy
7.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,694,060
Cap Rate 7%
$1,210,043
Cap Rate 9%
$941,144
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,703 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.39M
$5.59M – $7.46M
NOI $447,346 @ 7.0% cap · market cap 28.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46804, IN
28,800
Population
12,959
Households
2.2
Avg Household Size
40
Median Age
44%
College-Educated
96%
High-School Grad
17.7 sq mi
ZIP Area
1,627
Density / Sq Mi
$84,778
Median Household Income
$49,050
Median Earnings
$1,134
Median Rent
$241,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 4 Star Buffet — 6324 constitution dr, fort wayne, in 46804
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant with long-term tenant in Fort Wayne, Indiana.
Where is this conventional restaurant located?
The property is located at 6282 W Jefferson Blvd Fort Wayne, IN.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Newly signed long‑term lease provides stable, predictable income.; Reputable tenant: Wild Crab Cajun Seafood and Bar.; Tenant has options for lease renewal.
