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Shopping Strip

Illinois Road Center

4930 Illinois Rd, Fort Wayne, IN 46804

Listing Price: $1,220,000

Cap Rate
8.11%
Gross SF
14,224
Rentable SF
14,224
Price/Gross SF
$85.77
Lot Size
1.42 acres
Year Built
1987

Investment Overview

Marcus & Millichap is pleased to present this 14,224 Square Foot Flex-Oriented Service Center Located on 1.42 Acres Across from Jefferson Pointe Mall in Fort Wayne, Indiana.? The property is 82% occupied and offers the ability to increase the value by leasing the remaining vacant suite, converting the gross leases to NNN, and increasing the under market rents as this retail corridor continues to fill in.? It is located on Illinois Road, a major retail artery with 33,330 vehicles per day.? It offers a large pylon sign, and is 1/2 Mile to the I-69 interchange where the traffic counts exceeds 62,400.?

Investment Highlights

  • 14,224 Square Foot Flex-Oriented Service Center Located on 1.42 Acres Across from Jefferson Pointe Mall
  • Large Lighted Pylon Sign on Illinois Road – Main Retail Artery with 33,330 VPD
  • 82% Occupied and Under Market Rents | Ability to Increase the Cap Rate to 10.16% by Leasing Vacant Suite | Staggered Lease Terms | Convert Gross Leases to NNN | Priced Below Replacement Cost

Exclusively Listed By

Financing By

Listing Price: $1,220,000

Cap Rate
8.11%
Gross SF
14,224
Rentable SF
14,224
Price/Gross SF
$85.77
Lot Size
1.42 acres
Year Built
1987

Investment Highlights

  • 14,224 Square Foot Flex-Oriented Service Center Located on 1.42 Acres Across from Jefferson Pointe Mall
  • Large Lighted Pylon Sign on Illinois Road – Main Retail Artery with 33,330 VPD
  • 82% Occupied and Under Market Rents | Ability to Increase the Cap Rate to 10.16% by Leasing Vacant Suite | Staggered Lease Terms | Convert Gross Leases to NNN | Priced Below Replacement Cost

Investment Overview

Marcus & Millichap is pleased to present this 14,224 Square Foot Flex-Oriented Service Center Located on 1.42 Acres Across from Jefferson Pointe Mall in Fort Wayne, Indiana.? The property is 82% occupied and offers the ability to increase the value by leasing the remaining vacant suite, converting the gross leases to NNN, and increasing the under market rents as this retail corridor continues to fill in.? It is located on Illinois Road, a major retail artery with 33,330 vehicles per day.? It offers a large pylon sign, and is 1/2 Mile to the I-69 interchange where the traffic counts exceeds 62,400.?

Exclusively Listed By

Financing By

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