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3401 Lake Ave
Fort Wayne, IN 46805
Lake Avenue Medical Office · Office Property For Sale
Investment Highlights
- 3 Tenant medical office building
- Water and sewer service is provided
- Well-placed in one of Fort Wayne's major medical service districts
Executive Summary
STURGES PROPERTY GROUP HAS BEEN APPOINTED THE EXCLUSIVE AGENT for the sale of the MyEyeDr medical office building on Lake Avenue in Fort Wayne, IN. The 7,857 square-foot multitenant building is 100% leased to three established service providers, offering investors immediate and stable cash flow. The income stream is further anchored by a corporate guarantee by Capital Vision Services, LLC on the MyEyeDr space.
THE PROPERTY BENEFITS FROM LONG-TERM TENANCY and predictable income streams in a busy medical corridor. This offering provides investors with the opportunity to acquire a stabilized healthcare asset with secure income, long-term tenants, and upside potential through future rent growth and/or conversion to triple net leases.
3401 LAKE AVENUE SEES OVER 8,000 VEHICLES PER DAY and is easily accessible to major thoroughfares as it is situated between Hobson Road and Coliseum Boulevard/SR 930.
THE PROPERTY BENEFITS FROM LONG-TERM TENANCY and predictable income streams in a busy medical corridor. This offering provides investors with the opportunity to acquire a stabilized healthcare asset with secure income, long-term tenants, and upside potential through future rent growth and/or conversion to triple net leases.
3401 LAKE AVENUE SEES OVER 8,000 VEHICLES PER DAY and is easily accessible to major thoroughfares as it is situated between Hobson Road and Coliseum Boulevard/SR 930.
Property Facts
Sale Type
Investment
Property Type
Building Size
7,857 SF
Building Class
C
Year Built
1974
Price
$750,000
Price Per SF
$95.46
Cap Rate
8.11%
NOI
$60,825
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
7,857 SF
Building FAR
0.18
Lot Size
1.03 AC
Zoning
R3
Parking
47 Spaces (5.98 Spaces per 1,000 SF Leased)
Amenities
- Monument Signage
Property Taxes
| Parcel Number | 02-08-32-351-012.000-072 | Improvements Assessment | $292,800 |
| Land Assessment | $135,100 | Total Assessment | $427,900 |
Property Taxes
Parcel Number
02-08-32-351-012.000-072
Land Assessment
$135,100
Improvements Assessment
$292,800
Total Assessment
$427,900
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