For Sale
$11,000,000

1721 Magnavox WayFort Wayne, IN 46804

Fort Wayne medical office, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 20,000-square-foot Class B medical office building, located at 1721 Magnavox Way in Fort Wayne, Indiana, presents a compelling investment opportunity. Currently 100% occupied by a well-established surgery center specializing in spine, total joint, and pain procedures, the property boasts a strong 7.27% cap rate and a projected net operating income (NOI) of $799,700. Built in 1979, this facility is strategically situated on a 2.38-acre lot within a thriving commercial park on Fort Wayne's southwest side, benefiting from high traffic counts and proximity to major shopping centers like Apple Glen, Jefferson Pointe, and Orchard Crossing. Its convenient location is also less than half a mile from the I-69 exit, and near Lutheran Hospital and the VA Northern Indiana Health Care System, ensuring strong patient access. The property includes extensive on-site equipment, including MRI and CT scanners, and is specifically designed for orthopedic surgery, encompassing preoperative areas, fully equipped operating rooms, post-surgery recovery areas, and medical office suites. A 15-year leaseback is included upon sale, providing investors with a long-term, recession-resistant asset and a stabilized NOI. The asking price is $11,000,000, representing a price per square foot of $550. This turnkey investment offers significant potential for long-term growth and stable returns. The property is zoned for medical use within Allen County, zip code 46804.

Highlights

  • State-of-the-art orthopedic surgery center with on-site MRI and CT capabilities.
  • Prime southwest Fort Wayne location in a high-traffic commercial park with strong demographics.
  • Convenient access to major retail centers (Apple Glen, Jefferson Pointe, Orchard Crossing).
  • Less than half a mile from I-69.
  • Close proximity to Lutheran Hospital and the VA Northern Indiana Health Care System.

Property Details for 1721 Magnavox Way

Property type
Office properties, Medical offices
Square Feet
20,000 SF
Class
B
Year Built
1979
Lot Size (sq. ft)
103,673 SF

Location Insight

City
Fort Wayne
County
Allen
State
Indiana
Latitude
41.0689909
Longitude
-85.221007
1721 Magnavox Way, Fort Wayne, Indiana

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1721 Magnavox Way
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