1506 Wall St Fort Wayne, IN 46802-4350
This exceptional redevelopment opportunity presents a 9,532 square foot, vacant, mixed-use building situated on a 0.24-acre lot at 1506 Wall Street in Fort Wayne, Indiana. Originally constructed in 1918 and extensively renovated in 2023, this two-story building boasts a 12-foot first-floor ceiling height and offers immense potential for various uses, including restaurant, retail, office, or even a multi-family conversion. The property features 12 parking spaces, a new parking lot, updated storm drainage, new insulated roofing, new windows, and upgraded utility services (gas, electric, sewer, and water). The building is zoned I3 and offers convenient rail service access. The asking price is $599,900, translating to $62.94 per square foot. The second floor has a sloped roof, presenting unique design possibilities. This property is a blank canvas for a creative entrepreneur or investor seeking a prime location in a vibrant area with potential for expansion and high returns. The vacant status allows for complete customization to suit any vision. This is a truly unique opportunity to acquire a substantial property in a desirable location with significant upside potential.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.