About This Restaurant
Investment Highlights
Executive Summary
Investment opportunity now available to purchase! Built in 1975, this property exhibits the nostalgic Fort Wayne business atmosphere. With a NEW roof in 2024, and a resurfaced parking lot in 2021, this location is ideal for any investor ready to acquire the property of a successful and profitable restaurant. Tenant currently owns 3 restaurants with over 40 years of experience in the restaurant industry. Over 7 years left on current lease with rental increase of 10% during term. Pro Forma Cap will be 8% in a little over 2 years.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 3,176
- Building Class C
- Year Built/Renovated 1974/2024
- Price 990,000
- Price Per SF 312
- Cap Rate 7.27
- NOI 72,000
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.11
- Land Acres 0.65 AC
Property Taxes
| Parcel Number | 02-08-19-226-008.000-072 | Improvements Assessment | $204,100 |
| Land Assessment | $94,000 | Total Assessment | $298,100 |
| Date Created: | 2024-07-16 04:13:41 | Last Updated: | 2024-07-16 04:13:41 |
| Address: | 3232 St Joe Center Rd , Fort Wayne, Indiana, 46835 | ||