1050 Coliseum BlvdFort Wayne, IN 46805

Property Details for 1050 Coliseum Blvd

Year built

2022

Construction

TYPE NOT SPECIFIED

Lot size

1.15 AC

Property size (Sq ft)

1,404 SF

Property type

Auto shops

APN

02-07-25-128-005.000-073

APU

20725128005000073

Description

This exceptional investment opportunity presents a 1,421-square-foot Take 5 Oil Change located at 1050 E. Coliseum Blvd, Fort Wayne, Indiana, 46805. Situated on a 0.32-acre lot, this property boasts a strong 6.75% cap rate and a substantial net operating income (NOI) of $124,278. The property is subject to a 15-year triple-net (NNN) lease, commencing December 27, 2022, and expiring December 31, 2037, leaving a remaining lease term of approximately 13.1 years. The lease is guaranteed by a franchisee, backed by Baldwin Capital Partners, which operates 24 Take 5 Oil Change locations, providing significant financial stability. The lease includes a built-in rent escalator, featuring a 10% increase every five years, ensuring consistent income growth. Built in 2023, this well-maintained property offers a secure, long-term investment with a price of $1,841,156 ($1,295.68 per square foot). The property's strong tenant, favorable lease terms, and prime location in Fort Wayne, Allen County, make it an attractive addition to any investment portfolio. The 100% occupancy rate further solidifies its value and potential for future returns. This is a rare opportunity to acquire a high-performing, passively managed asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $388,177

  6.5%

  $358,317

  7%

  $332,723

• Comparable approach

  Method

  Valuation

  Relative Method

  $110,464

  Geo Method

  $69,665

• Alternative Use

  Use

  Valuation

  Residential

  $302,254

  Hospitality

  $276,863

  Educational

  $230,347

  Medical

  $238,269

  Retail

  $358,317

Location Insight

City

Fort Wayne

County

Allen

State

Indiana

Latitude

41.1171

Longitude

-85.1263

CBSA code

23060

CBSA name

FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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