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Historic Centier Bank Building 127 W Berry St

92,500 SF 71% Leased Office Building Fort Wayne, IN 46802 £5,547,571 (£60/SF) 7.71% Net Initial Yield

Investment Highlights

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

Executive Summary

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.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
92,500 SF
Building Class
B
Year Built/Renovated
1923/1999
Price
£5,547,571
Price Per SF
£60
Net Initial Yield
7.71%
NOI
£427,707
Percent Leased
71%
Tenancy
Multiple
Number of Floors
13
Typical Floor Size
7,115 SF
Slab to Slab
11 ft
Building FAR
5.18
Land Acres
0.41 AC
Opportunity Zone
Yes
Zoning
DC - Downtown Core

Amenities

  • 24 Hour Access
  • Banking
  • Bus Route
  • Property Manager on Site
  • Restaurant
  • Basement
  • Demised WC facilities
  • High Ceilings
  • Air Conditioning

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • -
  • 4,232 SF
  • -
  • Plus All Utilities
  • Jan 2026

Arnold Terrill Ridenour, P.C.'s attorneys have over 75 years of combined legal experience and a great reputation in the community. Clients can be confident in their ability to develop a defense strategy to help them. They provide services in DUI, drug, expungement, felony, juvenile, traffic, gun, and white collar cases.

  • -
  • 1,117 SF
  • -
  • Modified Gross
  • -

Founded in 1919 in Milwaukee, Wisconsin, Baird’s financial advice and expertise has helped guide clients through changing market cycles and unexpected events across generations. Being privately held has enabled them to grow and manage their firm responsibly, from a position of enduring financial strength and with a long-term focus on the best interests of their clients, their associates and the communities they share. They have expanded into new markets and lines of business only where and when they know they can serve those clients well. Today, Baird serves the investment and financial planning needs of individuals, families, small businesses, foundations, schools and other public entities throughout the United States as well as corporations and institutional investors around the world. And, because they are employee-owned, their clients can trust that they all share a personal stake in the successes they strive to help them achieve.

  • Centier Bank
  • Finance and Insurance
  • 12,000 SF
  • -
  • -
  • -
  • -
  • 4,500 SF
  • -
  • -
  • -

Equity Investment Group, Inc., along with its affiliated companies, (EIG) is a diversified, private investment and holding company. Led by its Founder and President/CEO, George B. Huber, EIG has a proven, successful history of investment in and management of real estate and other operating business investments throughout the United States. Since 1990, EIG has developed or purchased for our own account over $1 billion and 20 million square feet of retail shopping centers located throughout the United States along with numerous office and other commercial properties. EIG principals also co-founded Blue Vista Capital Management, LLC, a Chicago-headquartered real estate investment management company that raised and managed in excess of $1 billion AUM and approximately $5.25 billion in total capitalization.

  • -
  • 8,158 SF
  • -
  • -
  • -

Locally owned and operated, Lupke Rice Insurance has delivered quality insurance solutions to individuals and businesses since 1917. Their team of experienced insurance professionals is committed to helping clients find a policy that fits their needs. We focus on providing personalized attention and quality customer service to create an experience that's difficult to find in today's market. They offer service in workers comp, commercial property insurance, professional liability, personal umbrella, general liability, cyber security, and more.

  • -
  • 1,200 SF
  • -
  • -
  • -

Monarch Capital Management was formed in 1994 by four trust officers from the Fort Wayne National Bank Trust Department. Since then, many of the large banks in Fort Wayne have been acquired by banks headquartered elsewhere and have altered their way of serving investors. Monarch's core focus, however, remains the same as it has always been: to provide customized investment solutions and help customers make better financial decisions. Research is the foundation of sound investment decision-making. They learn all they can about companies, their industries, and their competitors. They engage their senior managements when they can. They crunch the important numbers, such as earnings growth, cash flows, dividends, and profitability. They decide what companies are worth clients' investment dollars and at what price. Their research is applied when they meet with clients to determine the best investments for client needs in Fort Wayne.

  • -
  • 6,000 SF
  • -
  • -
  • -

Stucky, Lauer, & Young, LLP's lawyers have extensive and unique experience in civil litigation; business representation; estate and elder law planning; real estate law and litigation; family, domestic relations, criminal, and personal injury law; mediation; and collections and creditor's rights. Whether representing individuals or investors, representing businesses, vigorously defending the accused, assisting an individual or family with estate or elder planning, helping an injured person get what he or she deserves, representing an individual in a divorce or custody battle, or helping collect money owed to our clients, the attorneys of Stucky, Lauer & Young, LLP aim to represent their clients efficiently, zealously, and expertly.

  • -
  • 5,254 SF
  • £8.24
  • Modified Gross
  • Dec 2021

Tourkow, Crell, Rosenblatt & Johnston, LLP is a general practice firm headquartered in Fort Wayne, Indiana. All of their lawyers are members of the Indiana State Bar Association and the Allen County Bar Association. The firm practices in all area, state and federal courts and the firm has existed since the 1950’s in various forms. They are ready to handle legal needs in the following areas: Personal Injury, Auto Accident, Family Law, Divorce, Child Custody, Paternity, Fathers’ Rights, Adoption, Bankruptcy, Business, Real Estate, Criminal Law, Litigation, Mediation, Medical Malpractice, Nursing Home Negligence, Social Security Disability, Wills, Estates, Trusts and Workers Compensation.

  • Wisteria Home Care
  • -
  • 1,500 SF
  • -
  • -
  • -

Home health care located in Fort Wayne, IN, since 2024.

  • -
  • 2,484 SF
  • -
  • Plus All Utilities
  • Oct 2026

Xplor Commercial Real Estate is a local-owned business with principles rooted to Fort Wayne. Founded in 2018, Xplor is a full-service brokerage and property/asset management firm. With over 85 years of combined experience, Xplor’s professionals can handle any property, facility or project under their management umbrella. As a boutique commercial real estate firm, Xplor is able to specialize their offerings and customize solutions to individual client needs. Xplor currently represents all product types including office, retail, land, industrial, development and special use properties.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
- 4,232 SF - Plus All Utilities Jan 2026
- 1,117 SF - Modified Gross -
Centier Bank Finance and Insurance 12,000 SF - - -
- 4,500 SF - - -
- 8,158 SF - - -
- 1,200 SF - - -
- 6,000 SF - - -
- 5,254 SF £8.24 Modified Gross Dec 2021
Wisteria Home Care - 1,500 SF - - -
- 2,484 SF - Plus All Utilities Oct 2026
Walk Score ®
Walker's Paradise (92)
Bike Score ®
Very Bikeable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
02-12-02-453-002.000-074
Land Assessment
£281,682
Improvements Assessment
£2,535,999
Total Assessment
£2,817,681
  • Listing ID: 32886488

  • Date on Market: 20/08/2024

  • Last Updated:

  • Address: 127 W Berry St, Fort Wayne, IN 46802

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