127 W Berry St - Office FOR SALE


Fort Wayne, IN 46802
$7,090,000 USD
260-487-3699
127 W Berry St, Fort Wayne, IN for Sale
$7,090,000 USD
Office - FOR SALE
1/13
null | 7.71% Cap Rate

127 W Berry St
Fort Wayne, IN 46802


HIGHLIGHTS

  • Anchor tenant, Centier Bank's regional headquarters
  • Stable tenancy - some with 30-40 years in the building
  • Most tenants newly signed, or renewed, since 2021 or post covid
  • Historic building with central location within downtown
  • Potential value-add opportunity

OVERVIEW

Cash required for purchase is $1,550,000 with assumable loan of $5,540,000 at 4.26% fixed, non-recourse, maturity July 2029. 92,500 SF historic building with flexibility to accommodate wide variety of office uses. 12% cash on cash return for this office building investment. Once known as the tallest bank and office building in Northern Indiana, originally named The Commerce Building, is a historical masterpiece in downtown Fort Wayne. Large limestone pillars, glazed terracotta capped cornices, and elaborate carved stonework adorn the beautifully preserved exterior. Designed by architect William Weatherhog and drawn by Thomas M James in 1923, the lobby hosts beautiful murals depicting original scenes of the canal, gold leaf crown molding, granite tile walls, and 33' ceilings. The property is a beacon for the city with prestigious tenants, notable address, and location in the heart of Downtown.

FOR SALE DETAILS

PRICE

$7,090,000 USD

PRICE/SF

$59 USD /SF

CAP RATE

7.71%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Historic Centier Bank Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

13

BUILDING CLASS

B

YEAR BUILT

1923

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

DC

APN/PARCEL ID

02-12-02-453-002.000-074

ASK ABOUT THIS PROPERTY

Dennis CallisonXplor Commercial Real Estate Corp.More Info
260-487-3699

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Dennis CallisonXplor Commercial Real Estate Corp.More Info
260-487-3699

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