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    1918 S Harrison Street Fort Wayne, IN 46802

    View on Map
    Pending
    $95,000

    Commercial Land - Fort Wayne, IN

    Lot size:
    0.08 Acres
    Added:
    Jun 12, 2025
    Days on Market:
    295
    Last Refresh:
    Apr 2 at 7:06 pm

    Property Features for 1918 S Harrison Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    APN
    02-12-11-260-011.000-074
    Lot size
    0.08 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    427.48

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Mina Patel
    Mina Patel

    Listing agent Mina Patel License #RB14042279

    Listing office Coldwell Banker Real Estate Gr 7553 W Jefferson Blvd., Fort Wayne, IN

    Listing date Jun 12, 2025

    MLS# 202522378 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Commercial Land with Auto Shop

    This offering presents a rare opportunity to own a mechanic or auto body shop, along with additional commercial and residential lots. There are four buildable lots available, three of which are designated for commercial use. The property at 1918 S Harrison St features a mechanic/auto body garage equipped with a gas heater, electricity, a large air compressor, and an alarm system. This lot is suitable for auto body detailing, auto rentals, or auto sales. The lot at 1920 S Harrison St includes a shed with electricity, making it ideal for storage or other purposes. Additionally, 1914 S Harrison St is a vacant lot. The fourth lot, located at 1917 Webster St, is a double residential lot. All four lots are being offered for a single price, presenting various possibilities for business ownership.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • PONTIAC TIRES LLC. — 611 E Pontiac St, Fort Wayne, IN 46803
    • Trujillo’s Auto Repair — 2125 Fairfield Ave, Fort Wayne, IN 46802
    • E & M Tire Services — 2609 S Clinton St, Fort Wayne, IN 46803
    • Bent Wrench — 2517 Calhoun St, Fort Wayne, IN 46807
    • 3M- Auto Collision — 601 E Pontiac St, Fort Wayne, IN 46803

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.140038
    Latitude
    41.068048

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    FAQs

    What type of property is this?
    Auto shop - Four buildable lots ideal for auto body or sales.
    Where is this auto shop located?
    The property is located at 1918 S Harrison Street Fort Wayne, IN.
    What is the asking price?
    The asking price for this property is $95,000.
    What are key features of this property?
    This property features: Mechanic/auto body shop garage included: equipped with gas heater, electricity, large air compressor, and alarm system.; Four buildable lots included: three commercial lots and one double residential lot.; Versatile commercial potential: ideal for auto body detail, auto rental, or auto sales.
    (203) 589-3778
    We can help!
    Listing Contact
    Mina Patel
    Mina Patel
    Real Estate License ID: RB14042279
    Learn More
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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.

    More about this property
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