Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5008 Mcclellan St Fort Wayne, IN 46807

    Sponsored
    For Sale
    Contact for pricing

    Residential Land - Fort Wayne, IN

    Lot size:
    0.10 Acres
    Days on Market:
    216
    Last Refresh:
    Jan 26 at 4:06 am

    Property Features for 5008 Mcclellan St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    02-12-23-405-014.000-074
    Lot size
    0.10 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Megan Honn

    RE/MAX Results (260) 490-1590

    Listing agent Megan Honn (260) 490-1590

    Listing date Jun 25, 2025

    MLS# 202512478 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.

    Learn more

    Property Insight Report

    Overview

    Residential Land in Fort Wayne

    This residential land lot presents an opportunity for investment in a developing area. Its location offers proximity to key attractions, situated within 6 miles of both the airport and the Fort Wayne Zoo. The property is located South of 5008 Mc Clellan Street in Fort Wayne, Indiana. The lot size is 0.1 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.140682
    Latitude
    41.037148

    Nearby Similar for Sale

    • $580,000
      0.43 Acres

      Unique Stone Castle-Inspired Retail Space

      Distinctive property with high visibility, adaptable layout, and ample parking.
      6623 Sr 930, Fort Wayne, IN 46803
      View Details
    • $305,900
      2,820 SF

      Duplex Near Electric Works

      Duplex with potential for short-term rentals near Electric Works.
      1814 College St, Fort Wayne, IN 46802
      View Details
    • $415,000
      5,093 SF

      Fort Wayne Fourplex Investment Opportunity

      Fourplex with three vacant units, business potential, and good income.
      315 Dalman Ave, Fort Wayne, IN 46806
      View Details
    • $330,000
      2,448 SF

      Turnkey Fourplex Near Lakeside Park

      Fully occupied fourplex near Lakeside Park, generating stable monthly income.
      1027 Lake Ave, Fort Wayne, IN 46805
      View Details
    • New
      $319,900
      Pending

      Updated Mixed-Use Building in Fort Wayne

      Solid, updated building suitable for business, home, or both.
      2402 Broadway Blvd, Fort Wayne, IN 46807
      View Details
    • $126,500
      1,065 SF

      Updated Ranch Home with Garage

      Move-in ready 4-bedroom ranch with updates and spacious 2-car garage.
      4423 Bowser Ave, Fort Wayne, IN 46806
      View Details
    • $1,200,000
      0.93 Acres

      Versatile Commercial Property on Engle Road

      High-visibility commercial asset with redevelopment potential in Fort Wayne, IN.
      3339 Engle Rd, Fort Wayne, IN 46809
      View Details
    • $169,999
      0.05 Acres

      Barbershop with Development Potential

      Commercial space with redevelopment potential, currently operating as a barbershop.
      1017 E Pontiac St, Fort Wayne, IN 46803
      View Details
    • $489,900
      0.28 Acres

      Iconic Restaurant Opportunity in Fort Wayne

      Turnkey restaurant for sale with real estate included.
      1820 Bluffton Rd, Fort Wayne, IN 46809
      View Details
    • $750,000
      0.27 Acres

      Fort Wayne Storefront Building For Sale

      Storefront building with large lot, ideal for development.
      1902 Broadway St, Fort Wayne, IN 46802
      View Details
    • $219,900
      1,790 SF

      Well-Maintained Duplex in Fort Wayne

      Duplex with income potential and garage currently used by business.
      2404 N Clinton St, Fort Wayne, IN 46805
      View Details
    • New
      $299,000
      4,600 SF

      Downtown Fort Wayne Bar Property

      Bar/Restaurant property in vibrant downtown Fort Wayne, near key attractions.
      1407 S Calhoun St, Fort Wayne, IN 46802
      View Details

    FAQs

    What type of property is this?
    Land - Land near airport and zoo offers investment potential.
    Where is this land located?
    The property is located at 5008 Mcclellan St Fort Wayne, IN.
    What is the asking price?
    The asking price for this property is $6,000.
    What are key features of this property?
    This property features: - Investment opportunity in a developing area.; - Located within 6 miles of the airport.; - Located within 6 miles of the Fort Wayne Zoo.
    (906) 360-8258
    Request Owner's contact information
    5008 Mcclellan St Fort Wayne, IN 46807
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5008 Mcclellan St
    Fort Wayne, IN 46807
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    5008 Mcclellan St Fort Wayne, IN 46807
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Megan Honn
    Real Estate License ID: RB24002140
    (906) 360-8258
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.