4504 Parnell Ave, Unit 4516 Fort Wayne, IN 46825-5836

Property Details for 4504 Parnell Ave

Year built

1986

Construction

TYPE NOT SPECIFIED

Lot size

0.57 lot acres

Property size

10,500 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

02-07-24-451-005.000-073

APU

20724451005000073

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.

Location Insight

City

Fort Wayne

County

Allen

State

Indiana

Longitude

-85.1253

Latitude

41.1188

CBSA code

23060

CBSA name

FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments