for sale | industrial investment 2802-3020 ......property highlights senior investment advisor...

PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS

Senior Investment [email protected]

MARK BMARK BARINGERARINGER Rare multi-tenant industrial opportunity

16 total suites, with potential combination- currently leased

as fourteen leases

Great small business and incubator space, with office and

warehouse with overhead doors

PRESENTED BPRESENTED BYY::

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

FOR SALE | INDUSTRIAL INVESTMENT

2802-3020 CONGRESSIONAL PKWY2802-3020 Congressional Pkwy | Fort Wayne, IN 46804

SSALE OALE OVERVERVIEWVIEW PROPERPROPERTTY DESCRIPTIONY DESCRIPTION

The subject is two separate multi-tenant flex buildings on separate parcels.They are separated by one property. Built in 1988, these spaces haveexcellent appeal for wholesale, small business, incubator and secondary/regional spaces. This is a rare chance to own multi-tenant industrial spacein the Fort Wayne market. Rents are below market giving an investor upsidepotential.

LLOCOCAATION OTION OVERVERVIEWVIEW

Located just off Goshen Rd in Congressional Industrial Park, just 1.5 milesfrom I-69 and US 33/30. Industrial park location with local, national andinternational companies.

SALE PRICE: $995,000

LOT SIZE: 3.42 Acres

BUILDING SIZE: 26,400 SF

CAP RATE: 8.25%

YEAR BUILT: 1988

Fort Wayne, IN 46804

2802-3020 CONGRESSIONAL PKWYFOR SALE | INDUSTRIAL INVESTMENT


MARK BMARK BARINGERARINGER


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INVESINVESTMENT OTMENT OVERVERVIEWVIEW

Price $995,000

Price per SF $37.69

CAP Rate 8.25%-

OPERAOPERATING DTING DAATTAA

Gross Scheduled Income $160,119-

Other Income 0-

Total Scheduled Income $160,119-

Vacancy Cost 8,005-

Gross Income $152,114-

Operating Expenses $65,214-

Net Operating Income $86,900-

-


2802-3020 CONGRESSIONAL PKWYFOR SALE | INDUSTRIAL INVESTMENT





TENANTTENANTNAMENAME

UNITUNITNUMBERNUMBER

UNITUNITSIZE (SIZE (SF)SF)

LEALEASESEENDEND

ANNUANNUALALRENTRENT

% OF% OFBUILDINGBUILDING

PRICEPRICEPER SFPER SF/YR/YR

Available 2802A 1,500 $9,600 5.68 $6.40

BSN Sports 2802B 1,500 Mo/Mo $9,495 5.68 $6.33

CRS 2802C 1,500 7/31/2018 $9,000 5.68 $6.00

Green and Growing 2802D 1,500 2/28/2019 $9,750 5.68 $6.50

Clear Choice 2802E 1,500 5/31/2019 $10,500 5.68 $7.00

Rehab Medical 2802F 1,500 5/31/2017 $9,600 5.68 $6.40

Xerox 2802G 1,500 8/31/2016 $9,000 5.68 $6.00

A Johnson LLC 2802H 1,500 8/31/2017 $9,600 5.68 $6.40

Printing Press 3020A/B 3,600 Mo/Mo $21,780 13.64 $6.05

Kids Against Hunger 3020C 1,800 2/28/2016 $9,000 6.82 $5.00

Zimmerman Septic 3020D 1,800 Mo/Mo $9,594 6.82 $5.33

Available 3020E 1,800 $12,600 6.82 $7.00

Summit Corp. 3020F 1,800 Mo/Mo $9,000 6.82 $5.00

Metrology 3020G/H 3,600 9/30/2018 $21,600 13.64 $6.00

TTootals/Atals/Avvereragesages 26,40026,400 $160$160,,119119 $6.$6.0077


2802-3020 CONGRESSIONAL PKWYFOR SALE | INDUSTRIAL

ProForma

2802- 3020 Congressional Pkwy, Fort Wayne

Potential Gross Income 160,119

5% vacancy 8,005

Potential Income 152,114

Expenses 2014 actual 2015 actual

RE Taxes- actual 30,296 21,786 Could go down with one acre lot split in 2015 from 3020 Insurance 1,367 3,648

Utilities- 7,930 8,406

Repairs- 19,053 23,498

Lndscaping.snow 6,568 3,487

Total expenses 65,214 60,825

ProForma Net Operating Income 86,900 91,289

The real estate taxes are actual, but may go down after a lot split of rear land (approximately 1 acre). Owners from Ohio self manage the properties , and bring maintenance people from Ohio. Above Income is proforma with a better managed property.






2802-3020 CONGRESSIONAL PKWYPROPERTY OVERVIEW





* Demographic data derived from 2010 US Census

1 MILE1 MILE 5 MILES5 MILES 10 MILES10 MILES

TTootal populatal population -tion - HHispaispanicnic 135 10,982 26,558

% H% Hispaispanicnic 5.7% 8.8% 7.3%


TTootal populatal population - Whittion - Whitee 1,987 98,249 278,396

%% WhitWhitee 84.1% 78.8% 76.9%

TTootal populatal population -tion - BlackBlack 123 12,345 50,777

% Black% Black 5.2% 9.9% 14.0%

TTootal populatal population -tion - AAsiasiann 129 3,328 10,067

% A% Asiasiann 5.5% 2.7% 2.8%

TTootal populatal population -tion - HHaawwaiiaaiiann 0 0 154

% H% Haawwaiiaaiiann 0.0% 0.0% 0.0%

TTootal populatal population -tion - IIndiandiann 7 490 1,028

% I% Indiandiann 0.3% 0.4% 0.3%

TTootal populatal population -tion - OtherOther 57 5,346 11,467

% Other% Other 2.4% 4.3% 3.2%


TTootal householdstal households 997 51,248 143,070

TTootal pertal persons per hhsons per hh 2.4 2.4 2.5

AAvvererage hh incage hh incomeome $58,937 $48,496 $58,085

AAvvererage house vage house valuealue $117,332 $97,281 $129,697


TTootal populatal populationtion 2,362 124,648 362,190

MMediaedian agen age 34.9 33.3 34.8

MMediaedian age (n age (malemale)) 33.7 32.4 33.4

MMediaedian age (n age (ffemaleemale)) 35.9 34.2 36.0









Mark BaringerSenior Investment AdvisorSVN | Parke Group

Mark Baringer serves as a Senior Investment Advisor with Sperry VanNess Parke Group in Fort Wayne. He specializes in the sale ofinvestment properties, including shopping centers, multifamily, andsingle tenant NNN properties. Other product types includedevelopment and agricultural land parcels. His work in NNNproperties in predominantly in Indiana and Ohio, but includes workassignments across the country.

His clients and customers have included real estate investmenttrusts, corporations, partnerships, banks and regional, national andinternational investors. He has been an advisor in commercial andinvestment real estate for 28 years. He is licensed in Indiana andOhio.

Prior to commercial and investment brokerage, Baringer was involvedin the banking and appraisal field for seven years. He served in RealEstate Administration for SunTrust Bank in Florida, working onvaluation and special projects on a local, regional and national level.He also worked for an independent MAI firm.

Baringer has proven experience in creating value for his clients duringboth the acquisition and disposition processes, and helping solvechallenges in both individual assets and portfolios.

Mark is also an original board member of Children's Lantern, a faithbased 501c foundation helping helpless children. The areas of concerninclude feeding children, freeing sex slaves, funding adoptions andfostercare, both nationally and internationally.www.ChildrensLantern.org

Phone: 260.489.8500

Email: [email protected]

Memberships & Affiliations

National Association of RealtorsIndiana Commercial Board of RealtorsInternational Council of Shopping Centers(ICSC)

Fax: 260.489.8544

Cell: 260.715.0626

Address: 409 E. Cook Rd., Suite 300


for sale | industrial investment 2802-3020 ......property highlights senior investment advisor...

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