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29903453
29903454

3401 Lake Ave, Fort Wayne, IN 46805 For Sale

NB
IN IN RB14026402
Sturges Property Group
PH
IN IN RB18000652
Sturges Property Group
IS
IN RB24001137
Sturges Property Group
Listed by Sturges Property Group
$725,000
150 days on market
Updated 56 days ago

Lake Avenue Medical Office

Details
Property Type Office
Sub Type Medical Office
Square Footage 7,857
Units 3
Cap Rate 9.00%
Occupancy 100%
Tenancy Multi
Broker Co-Op Yes
Year Built 1974
Buildings 1
Stories 1
Acreage 1.030
Zoning R3
Investment Type Stabilized

Medical Office | 9.0% CAP | 100% Occupancy | Recent Price Improvement

Marketing description

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 multi-tenant 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.

This is a 3-tenant medical office building located in one of Fort Wayne’s premier medical corridors. This asset is offered as a 100% leased stabilized opportunity for an investor with upside potential through scheduled rent escalations in renewals or conversion to triple net leases upon turnover.

The property is well-placed in one of Fort Wayne’s major medical/service districts. Neighbors include Parkview Hospital-Randallia, VA Northern Indiana Healthcare Systems, Lutheran Health Physicians, Byron Health Center, Parkview Behavioral Health, and PACE of Northeast Indiana.

Water and sewer service is provided by the City of Fort Wayne. Electrical service is provided by American Electric Power, and gas service is provided by NIPSCO.

Investment highlights

  • 3 - Tenant Medical Office building
  • Well placed in one of Fort Wayne’s major medical service districts
  • Water and sewer provided by City of Fort Wayne
  • Monument Signage

Listing Contacts

NB
IN IN RB14026402
Sturges Property Group
PH
IN IN RB18000652
Sturges Property Group
IS
IN RB24001137
Sturges Property Group
Listed by Sturges Property Group

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Additional Information

Name
Neal Bowman
License
IN RB14026402
Brokerage
Sturges Property Group
Brokerage Phone
2604248448
Title
Senior Broker
Brokerage Address
202 West Berry Street
Name
Philip Hagee
License
IN RB18000652
Brokerage
Sturges Property Group
Brokerage Phone
260.424.8448
Title
Broker
Brokerage Address
202 West Berry Street
Name
Ian Smith
License
RB24001137
Brokerage
Sturges Property Group
Title
Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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