2980 Coliseum BlvdFort Wayne, IN 46805

For Sale
$7,000,000

60,040 SF Office/Industrial Complex

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a 60,040-square-foot, Class B commercial property located at 2980-2990 E. Coliseum Blvd, Fort Wayne, Indiana, 46805. The property, built in 1959 and extensively renovated in 2018, features a blend of executive office space (32,700 SF) and warehouse/manufacturing space (27,340 SF), currently operating under a single, 100% occupied, triple net (NNN) lease with five years remaining. The property sits on a 5.51-acre lot and benefits from a highly desirable location adjacent to Purdue Fort Wayne Business School, offering convenient access to banks, restaurants, hotels, and shopping. The attractive features include ponds, fountains, and walking paths, enhancing the property's aesthetic appeal and creating a pleasant work environment. The building is fully air-conditioned and incorporates high-security infrastructure. The asking price is $7,000,000, translating to $117 per square foot, with a strong net operating income (NOI) of $660,440 and a compelling 9.4% capitalization rate. The property is zoned BTI/Business Technology, making it suitable for a variety of uses. This is a rare opportunity to acquire a well-maintained, high-performing commercial property in a prime Fort Wayne location. The original lease commenced in 2013.

Highlights

  • Triple-net lease with five years remaining.
  • Prime location with attractive landscaping including ponds, fountains, and walking paths.
  • Excellent access to banks, restaurants, hotels, and shopping.
  • Adjacent to Purdue Fort Wayne Business School.
  • Net operating income (NOI) of $660,440.
  • $7,000,000 sale price ($117 per square foot).

Property Details for 2980 Coliseum Blvd

Property type
Other warehouses, Other office properties
Square Feet
60,040 SF
Class
B
Year Built/Renovated
1959/2018
Lot Size (sq. ft)
240,016 SF
Units
1

Location Insight

City
Fort Wayne
County
Allen
State
Indiana
Latitude
41.1095339
Longitude
-85.100863
2980 Coliseum Blvd, Fort Wayne, Indiana

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2980 Coliseum Blvd
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