9930 Illinois Rd - Freestanding FOR SALE


Fort Wayne, IN 46804- Southwest Fort Wayne
$5,300,000 USD
260-424-8448
9930 Illinois Rd, Fort Wayne, IN for Sale
$5,300,000 USD
Freestanding - FOR SALE
1/6
null | Request Cap Rate

9930 Illinois Rd
Fort Wayne, IN 46804
Southwest Fort Wayne


HIGHLIGHTS

  • 100% retail investment opportunity in southwest Fort Wayne
  • Monument and façade signage available

OVERVIEW

Shorewood Shops is a multi-tenant neighborhood shopping center in Fort Wayne, Indiana. The building was completed for occupancy in 2007 and has received extensive renovations to tenant spaces and building since 2020. The property is conveniently located on Illinois Road/SR 14, the major east-west corridor through the southwest portion of Fort Wayne, just west of I-69. The property is easily accessible via multiple access points to Illinois Road and a secondary access point to Scott Road. This property offers an owner/investor stable cash flow in a highly desirable retail submarket. Income demographics are some of the highest in the state with an average household income of $121,678. Retail vacancy rates within the submarket have historically been much lower than other similar submarkets within the region. The area is experiencing tremendous growth with several new retail, medical, and residential developments within close proximity. Shorewood Shops has a diverse tenant mix, which includes national retailers Verizon Wireless, F45 Training, and Great Clips. Medical users include Priority Endodontics, TMJ & Sleep Therapy, and Focus Eyecare. Tenants also include a mix of other local retailers and restaurants. The leases are landlord-friendly and all suites are professionally managed. All tenants reimburse CAM, real estate taxes, and insurance. Recent improvements to the building include new HVAC rooftop units and new sidewalks. Nearby retailers include Kroger, Starbucks, CVS, Walgreens, Pizza Hut, Burger King, and Do It Best. The property is located in one of the highest income areas in the state of Indiana, with an average household income of $121,678. Less than a mile to the north, multiple subdivisions are being developed which will add additional homes to an already robust poulation density. To sign a confidentiality agreement and view detailed financial information on Shorewood Shops, please contact Neal Bowman, Philip Hagee, or Ian Smith.

FOR SALE DETAILS

PRICE

$5,300,000 USD

PRICE/SF

$221 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Shorewood Shops

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

157

LAND DETAILS

LAND ACRES

3.34 AC

LAND SF

145,490 SF

ZONING

NC - Neighborhood Center

APN/PARCEL ID

02-11-03-454-010.000-075

ASK ABOUT THIS PROPERTY

Neal BowmanSturges Property GroupMore Info
260-424-8448

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Neal BowmanSturges Property GroupMore Info
260-424-8448

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.