402-416 Scott Rd Fort Wayne, IN 46814
- Office Properties & Spaces
- 17,248 SF
- 1.68 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 402-416 Scott Rd
- Lot size
- 1.68 lot acres
- Property size
- 17,248 SF
- Property type
- Office Properties & Spaces
Description
This exceptional investment opportunity presents a two-building, Class A office park totaling 17,248 square feet situated on a 1.68-acre lot in desirable Southwest Fort Wayne, Indiana. The property, located at 402-416 S Scott Rd, boasts a prime location along a main collector road, offering excellent visibility and accessibility. Built in 2006 and 2017 (with renovations in 2017), the buildings are in excellent condition, featuring 6 individual units currently 100% occupied by a mix of long-term, reputable tenants including Edward Jones, University of Notre Dame, Premiere Dance Company, DHB Law Firm, Farrington Specialty Centers, and G2 Property Management. The property features 72 parking spaces and is zoned C-1 (Limited Commercial). With a strong net operating income (NOI) of $211,400 and an 8.49% cap rate, this multi-tenant office park presents a compelling investment opportunity. The asking price is $2,490,000, translating to $144.36 per square foot and $415,000 per unit. The property benefits from its proximity to a national grocer-anchored power center, numerous retail centers, and a retirement community, creating a thriving and convenient environment for tenants and attracting a high-quality tenant base. This is a core+ investment with a modified lease type. The property's location within a high-end residential area, coupled with the limited availability of professional office space in the immediate vicinity, ensures strong demand and long-term stability.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Wayne
- County
- Allen
- State
- Indiana
- Longitude
- -85.2752
- Latitude
- 41.0781
