1050 Coliseum Blvd Fort Wayne, IN 46805-1331
- Auto shops
- 1,404 SF
- 1.15 lot acres
Oct 04, 2024
Current Use by Public Records
- Take 5 Oil Change / Oil Change Service
- Take 5 Car Wash / Car Wash
Property Details for 1050 Coliseum Blvd
- Year built
- 2022
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.15 lot acres
- Property size
- 1,404 SF
- Property type
- Auto shops
- APN
- 02-07-25-128-005.000-073
- APU
- 20725128005000073
Description
This exceptional investment opportunity presents a 1,421-square-foot Take 5 Oil Change located at 1050 E. Coliseum Blvd, Fort Wayne, Indiana, 46805. Situated on a 0.32-acre lot, this property boasts a strong 6.75% cap rate and a substantial net operating income (NOI) of $124,278. The property is subject to a 15-year triple-net (NNN) lease, commencing December 27, 2022, and expiring December 31, 2037, leaving a remaining lease term of approximately 13.1 years. The lease is guaranteed by a franchisee, backed by Baldwin Capital Partners, which operates 24 Take 5 Oil Change locations, providing significant financial stability. The lease includes a built-in rent escalator, featuring a 10% increase every five years, ensuring consistent income growth. Built in 2023, this well-maintained property offers a secure, long-term investment with a price of $1,841,156 ($1,295.68 per square foot). The property's strong tenant, favorable lease terms, and prime location in Fort Wayne, Allen County, make it an attractive addition to any investment portfolio. The 100% occupancy rate further solidifies its value and potential for future returns. This is a rare opportunity to acquire a high-performing, passively managed asset with significant upside potential.
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
- -85.1263
- Latitude
- 41.1171
- CBSA code
- 23060
- CBSA name
- FORT WAYNE, IN METROPOLITAN STATISTICAL AREA
