4504 Parnell Ave, Unit 4516, Fort Wayne, IN 46825-5836
- Strip malls
- 10,500 SF
- 0.57 lot acres
Current Use by Public Records
- Dr. Mark Dankowski, DDS / Dental Office
Property Details for 4504 Parnell Ave
- Year built
- 1986
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.57 lot acres
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 02-07-24-451-005.000-073
- APU
- 20724451005000073
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 16, 2023 | — | Gma Prop LLC S Series 3740 N Lafaye | Fw Collseum Plaza LLC | Re-recorded Document · related | — |
| Apr 7, 2022 | — | Gma Properties LLC | Fw Corseum Plaza LLC | Warranty Deed | — |
| May 21, 2018 | — | Fw Coliseum Plaza LLC | Parnell Avenue LLC | Warranty Deed | — |
| Dec 27, 2011 | $1,700,000 | Parnell Avenue LLC | Wawasee Ventures LLC | Warranty Deed | $1.8M · The Citizens National Bank Of Bluff |
| May 9, 2011 | $2,000,000 | Wawasee Ventures LLC | Coliseum On Parnell LLC | Warranty Deed | — |
| Nov 2, 2006 | — | Coliseum On Parnell LLC | North Georgetown Shopping Center Ll | Corporation Deed | $2.3M · First Federal Bank Of The Midwest |
| May 4, 2006 | — | North Georgetown Shopping Center Ll | Vicmar LLC | Corporation Deed | $2.3M · First Federal Bank Of The Midwest |
Description
This exceptional portfolio comprises eighteen retail properties totaling over 405,378 square feet across Indiana, Illinois, Ohio, and Michigan. Strategically located in high-growth markets, these neighborhood centers and neighborhood-oriented properties boast a 95% occupancy rate with a diverse tenant mix of national, regional, and local businesses. The portfolio features approximately 140 tenants, with an average suite size under 3,000 square feet, simplifying management and leasing. Over 48% of the rentable square footage includes a 60-day landlord termination option, providing flexibility for future market opportunities and re-tenanting. Many leases feature personal guarantees, offering added security. The properties are fee simple interests (land and building), with lease structures including NNN, modified gross, and gross. The portfolio presents a stabilized revenue stream from long-term tenants, along with significant value-add potential through below-market rents and lease restructuring opportunities. Seller financing options are available for a limited time, allowing buyers to secure the portfolio and implement improvements before securing permanent financing. The seller is also open to offers for individual properties or portions of the portfolio. The portfolio sits on 36.83 acres and is situated in high-barrier-to-entry markets, ensuring long-term investment stability. Detailed financial information, including annual NOI and NOI per square foot, is available upon request.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Fort Wayne
- County
- Allen
- State
- Indiana
- Longitude
- -85.1253
- Latitude
- 41.1188
- CBSA code
- 23060
- CBSA name
- FORT WAYNE, IN METROPOLITAN STATISTICAL AREA
