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    The Largest CRE Database in the US with Over 1 Million Listings

    Patrick Romary, New Haven, IN

    License ID: (IN)RB20002160
    North Eastern Group Realty
    Years of Experience
    3

    Service Locations

    Contact details

    Phone:
    (260) 410-1103

    Performance

    Listings
    13
    Total transactions
    29
    Total transactions amount
    $7M
    Price range
    $110k - 475k
    Average price
    $241k

    Listings

    For Sale (6)

    View map
    • $1,500,000
      10.46 Acres

      Chestnut Hills Commercial Land

      10.46 Acres, Prime Fort Wayne Location
      1102 Chestnut Hills Pkwy, Fort Wayne, IN 46814
      View Details
    • $1,500,000

      Commercial Land in Fort Wayne

      10.46 acre commercial lot in southwest Fort Wayne.
      1102 Chestnut Hills Pkwy, Fort Wayne, IN 46814
      View Details
    • $678,000

      Fort Wayne Residential Rental Portfolio

      Residential rental portfolio in Fort Wayne, Indiana, on 3.23 acres.
      3704 Chestnut St, Fort Wayne, IN 46803
      View Details
    • $275,000

      Highway Frontage Commercial Land Parcel

      5.02 acre commercial land with highway visibility.
      3360 E Lincolnway, Columbia City, IN 46725
      View Details
    • $129,000

      Commercial Land Near Southtown Center

      1.81-acre commercial land with high visibility and accessibility.
      7900 S Hanna St, Fort Wayne, IN 46816
      View Details
    • $350,000

      Commercial/Industrial Land on Hillegas Rd

      1.25 acre raw land with high visibility and access.
      2707 Hillegas Rd, Fort Wayne, IN 46808
      View Details

    For Lease (7)

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    • $13 SF/Yr
      130,693 SF

      Historic Centier Building, Fort Wayne

      Downtown Fort Wayne Office Space: Prestigious, Historic Location
      127 Berry St, Fort Wayne, IN 46802
      View Details
    • $20 SF/Yr
      3,441 SF

      Office Space Near Chestnut Hills

      Premier office space in Southwest Fort Wayne near Chestnut Hills.
      901-991 Chestnut Hills Pkwy, Fort Wayne, IN 46814
      View Details
    • $15 SF/Yr
      1,200 SF

      Prime Commercial Space for Lease

      Exceptional leasing opportunity in a thriving Fort Wayne location.
      7401 Coldwater Rd, Fort Wayne, IN 46825
      View Details
    • $1,450 /Mo
      1,210 SF

      Renovated Office Space Available

      Newly renovated office space with utilities and WiFi included.
      4630 W Jefferson Blvd, Fort Wayne, IN 46804
      View Details
    • $15 SF/Yr
      1,100 SF

      Prime Retail Space in Fort Wayne

      Exceptional leasing opportunity in a high-traffic retail corridor.
      10376 Leo Rd, Fort Wayne, IN 46825
      View Details
    • $11 SF/Yr
      988 SF

      Updated Retail Space in Waynedale

      Updated storefront with excellent visibility and natural light.
      6704 Old Trail Rd, Fort Wayne, IN 46809
      View Details
    • $1,200,000
      1,466 SF

      Historic Building Near The Landing

      Historic 3-story building near The Landing, ideal for office/retail.
      620 S Calhoun St, Fort Wayne, IN 46802
      View Details

    Leases and Sales on Map

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    Patrick Romary, New Haven, IN
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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