3401 Lake AveFort Wayne, IN 46805

Property Details for 3401 Lake Ave

Year built

1974

Construction

WOOD

Lot size

1.03 AC

Property size (Sq ft)

7,880 SF

Property type

Office properties

Property subtype

Other office properties

APN

02-08-32-351-012.000-072

APU

20832351012000072

Description

This 770-square-foot office suite, located at 3401 Lake Avenue in Allen County, Indiana, presents a fantastic leasing opportunity. Situated in a single-story, 7,880-square-foot Class B building constructed in 1974, this space boasts excellent visibility from a high-traffic street. The suite is situated on the front of the building, providing optimal exposure. The building offers convenient access between Coliseum Boulevard and Hobson Road, benefiting from the high traffic volume of approximately 30,000 vehicles daily on Coliseum Boulevard. This location is surrounded by a diverse mix of businesses, including medical facilities, retail establishments, and residential areas. Notable neighbors include Parkview Behavioral Health Institute, Parkview Hospital Randallia, VA Northern Indiana Health Care System, and the Byron Health Center. The property features ample parking with 47 spaces available. The building is zoned R3. While the building itself does not have elevators, this single-story building offers easy accessibility. The property's APN is 02-08-32-351-012.000-072. This is a rare opportunity to secure a well-located office space in a thriving area of Fort Wayne. The minimum divisible space is 770 square feet, making this an ideal space for a variety of businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $1,482,078

  6.5%

  $1,368,072

  7%

  $1,270,353

• Comparable approach

  Method

  Valuation

  Relative Method

  $245,968

  Geo Method

  $155,157

• Alternative Use

  Use

  Valuation

  Residential

  $1,696,410

  Hospitality

  $1,553,902

  Educational

  $1,292,828

  Medical

  $1,337,291

  Retail

  $2,011,066

Location Insight

City

Fort Wayne

County

Allen

State

Indiana

Latitude

41.0907

Longitude

-85.0949

CBSA code

23060

CBSA name

FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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