Dupont Office
For Sale
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9910 Dupont Circle Drive East, Fort Wayne, IN 46825
Large office property within a Fort Wayne mixed-use business and medical park.
Property Size67,451 SF
Price / SF$123.27
Days on Market13
Property Features for 9910 Dupont Circle Drive East
General Information
Standard status
Active
Size
67,451 SF
Property subtype
OFFICE
Listing Agency:
Sturges Property Group
(260) 424-8448
Listed By:
Brad Sturges · License #RB23001509
(260) 424-8448
Source:
Moodyscre
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 22 at 12:31PM
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 67,451-square-foot office building is located at 9910 Dupont Circle Drive East in Fort Wayne. Recent leasing activity totals 18,729 RSF, adding current occupancy momentum to the property.
The building is part of Dupont Business & Medical Park, a mixed-use business destination that combines office and medical-oriented surroundings. Landlord-funded tenant improvements are associated with the 2024-2026 period, supporting continued leasing activity across the property.
The building is part of Dupont Business & Medical Park, a mixed-use business destination that combines office and medical-oriented surroundings. Landlord-funded tenant improvements are associated with the 2024-2026 period, supporting continued leasing activity across the property.
Key Highlights
- 67,451‑square‑foot office building
- Recent leases total 18,729 RSF
- Located within Dupont Business & Medical Park
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
$744,271
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
8.95%
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%
$14,885,420
$14.9M
Cap Rate 7%
$10,632,443
$10.6M
Cap Rate 9%
$8,269,678
$8.3M
Market Conditions
NOI Build-Up for 67,451 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
$1.15M $17.04/SF
− Vacancy
−$157.0K −$2.33/SF
EGI
$992.4K $14.71/SF
− OpEx
−$248.1K −$3.68/SF
NOI
$744.3K $11.03/SF
Area
Fort Wayne, IN
Vacancy
13.66%
Lease Rate
$17.04 /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%
$14,885,420
Cap Rate 7%
$10,632,443
Cap Rate 9%
$8,269,678
Alternative Uses
Best Use
Office B
$10.63M
$9.30M – $12.40M
NOI $744,271 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$56.35M
$49.30M – $65.74M
NOI $3,944,305 @ 7.0% cap · market cap 47.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 46825, IN
29,062
Population
13,597
Households
2.1
Avg Household Size
38
Median Age
34%
College-Educated
91%
High-School Grad
15.6 sq mi
ZIP Area
1,863
Density / Sq Mi
$68,890
Median Household Income
$44,788
Median Earnings
$1,044
Median Rent
$202,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Large office property within a Fort Wayne mixed-use business and medical park.
Where is this office building located?
The property is located at 9910 Dupont Circle Drive East Fort Wayne, IN.
What is the asking price?
The asking price for this property is $8,315,000.
What are key features of this property?
This property features: 67,451‑square‑foot office building; Recent leases total 18,729 RSF; Located within Dupont Business & Medical Park
