5820 Challenger Pkwy Fort Wayne, IN 46818
- Retail space
- 18,580 SF
- 1.73 lot acres
Current Use by Public Records
- Golden China Chinese Restaurant / Asian Restaurant / Chinese Restaurant
Property Details for 5820 Challenger Pkwy
- Year built
- 2003
- Construction
- WOOD
- Lot size
- 1.73 lot acres
- Property size
- 18,580 SF
- Property type
- Retail space
- APN
- 02-07-22-201-002.000-073
- APU
- 20722201002000073
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $530,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $455,000
- 6.5%
- $450,000
- 7%
- $415,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $380,000
- Geo Method
- $410,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $470,000
- Retail
- $390,000
- Mixed-Use
- $485,000
- Hospitality
- $390,000
- Educational
- $475,000
- Residential Income
- $460,000
- Energy
- $400,000
- Income-Based Land
- $435,000
- Food Service
- $520,000
Location Insight
- Map
- Local Demand
- City
- Fort Wayne
- County
- Allen
- State
- Indiana
- Longitude
- -85.1626
- Latitude
- 41.1319
- CBSA code
- 23060
- CBSA name
- FORT WAYNE, IN METROPOLITAN STATISTICAL AREA
