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STNL Industrial in Fort Wayne IN | Inflation Hedge Annual Increases of 2.9%

3405 Engle Road, Fort Wayne, IN, USA Map
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Listing Price $3,808,750

Status Closed
Lease Type Double Net
Property Type Industrial
CAP Rate 8%
GLA (Sq. Ft.) 110,000
NOI $304,700
Lease Term Remaining 5 Years
Increases 2.9% Annually
Options 1 x 5 Year
State (BOR) IN
Broker of Record Josh Caruana
License # (BOR) RB14034355
Close Date Aug 11, 2023

Investment Highlights

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  • Subject is a Prime 110,000 Square-Foot Industrial Building
    on a Ten Acre Lot and Features Ample Parking and Easy
    Ingress/Egress
  • Features an NN Lease with a Five-Year Base Term and
    Minimal Landlord Responsibility | Average 2.9% Annual
    Rental Increases, 1 x 5-Year Option
  • Subject Includes 8 Docking Bays, 15-16 Foot Ceiling Heights
    throughout, and 125 Parking Spaces for Employees and Visitors
  • Tenant Nelson Global was Founded in 1939 and Has
    Operations in Seven Countries, with Revenue Greater than
    $400 Million Dollars
  • Well Established Industrial Corridor | Nearby National Tenants
    Include: Coca-Cola, Johnson Controls, Seavac, International
    Paper, Mitsubishi, LH Carbide, and Sabert
  • Affluent Community in Fort Wayne Metropolitan Statistical
    Area with a Population of 146,173 and an Average
    Household Income of Over $59,766 Within Five Miles of the
    Subject Asset, as of 2021
  • Robust Traffic Counts on Engle Road (13,501 Vehicles Per
    Day), and About One Mile From Jefferson Blvd (29,141
    Vehicles Per Day) (Source: CoStar 2022)
  • Subject is less than 4 Miles from Ft Wayne International
    Airport, Serving 600 Thousand Passengers Annually
    (fwairport.com)
  • Parks and Outdoor Recreational Facilities Nearby Include:
    Eagle Marsh Nature Preserve, Foster Park, Fox Island County
    Park, Orchard Ridge Country Club, and Little River Wetlands

Investment Overview

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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