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    5820 Challenger Pkwy Fort Wayne, IN 46818

    Sponsored
    For Lease
    $15 SF/Yr

    Nine Suites, 1.73 Acres, Excellent Visibility

    Lot size:
    18,440 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional retail property, situated in the thriving Cross Creek Commons, presents a compelling investment opportunity. The single-story, 18,440 square foot building boasts nine suites, with 3,360 square feet currently available for lease. Built in 2003, this Class B center is strategically located on Washington Center Road, just 0.1 miles north of the high-traffic Lima Road/I-69 interchange (Exit 111), experiencing 15,000 vehicles per day. The property features ample parking with 143 spaces and benefits from prominent pylon and building signage opportunities, particularly for end-cap suites. The 1.73-acre lot is zoned Sc/Shopping Center, providing flexibility for various retail uses. The property is locally owned and professionally managed, offering a stable and well-maintained environment. Currently, lease rates are $15.00 per square foot per year, NNN. This multi-tenant strip center offers a blend of established businesses and available space, making it an ideal investment for both seasoned and emerging investors seeking a high-visibility location with strong traffic counts. The Allen County location and convenient access to major roadways ensure consistent customer flow and high potential for return on investment. The property's address is further identified by APN 02-07-22-201-002.000-073 and is conveniently located near St. Rd. 3/Lima Rd.

    Property Features for 5820 Challenger Pkwy

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    18,440 SF
    Class
    B
    Total Rate
    23050

    Building Details

    Year Built
    2003
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    5834 Suite B
    Size
    1,680 SF
    Rate per SF
    $15
    Space
    5836 Suite A
    Size
    1,680 SF
    Rate per SF
    $15

    HighLights

    • 18,440 SF retail building with 9 suites in Allen County.
    • 1.73‑acre lot with 143 parking spaces.
    • 3,360 SF of vacant space available, including one end cap.
    • Located in a high‑traffic multi‑tenant strip center, near I‑69 interchange (Exit 111).
    • Class B building, built in 2003, with pylon and building signage available.
    • Lease rate: $15.00/SF/year, NNN.
    Property Profile Location Intelligence

    Current Use by Public Records

    Golden China Chinese ... Chinese Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Hair Salon Auto Repair Shop Wholesale Shop Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.16219699
    Latitude
    41.13200757

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    FAQs

    What type of property is this?
    Retail property - Nine Suites, 1.73 Acres, Excellent Visibility
    Where is this retail property located?
    The property is located at 5820 Challenger Pkwy Fort Wayne, IN.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 18,440 SF retail building with 9 suites in Allen County.; 1.73-acre lot with 143 parking spaces.; 3,360 SF of vacant space available, including one end cap.
    Request Owner's contact information
    5820 Challenger Pkwy Fort Wayne, IN 46818
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    5820 Challenger Pkwy Fort Wayne, IN 46818
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