Add Listing
    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

    4230 Lake Ave Fort Wayne, IN 46815

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Hard corner lot with high visibility and traffic counts.

    Lot size:
    3.00 Acres

    Property Features for 4230 Lake Ave

    General Information

    Lot size
    3.00 Acres

    Building Details

    Year built
    1990

    We can help!

    Listing Contact
    Rachel Romary
    Rachel Romary
    Source: Naiglobal

    Listing Agency: NAI Hanning & Bean Listing Agent: Rachel Romary

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Corner Land Parcel For Sale

    This commercial land parcel, ranging from 1.5 to 3 acres, is available for sale, ground lease, or build-to-suit options. The property is located on the corner of Coliseum Boulevard and Lake Avenue, offering excellent visibility, easy access, and high traffic counts. The location benefits from strong demographics and combined traffic counts exceeding 40,000 vehicles per day. Zoned C-3, the site offers drive-thru possibilities and ample parking. The property provides convenient access to downtown Fort Wayne, the Glenbrook Mall retail area, and New Haven. This site is located along the busy Coliseum Boulevard retail corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    JT Paintball Sports Field & Court Empire Paintball Department Store Tippmann Sports LLC Sports Field & Court

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.0856805
    Latitude
    41.0903598

    Nearby Similar for Sale

    • $379,999
      0.33 Acres

      Retail Ready Commercial Property

      High-visibility corner lot suitable for retail or convenience operations.
      2915 S Calhoun St, Fort Wayne, IN 46807
      View Details
    • $450,000
      0.28 Acres

      Iconic Restaurant Opportunity in Fort Wayne

      Turnkey restaurant for sale in a prime Fort Wayne location.
      1820 Bluffton Rd, Fort Wayne, IN 46809
      View Details
    • $895,000
      2,546 SF

      Fort Wayne Retail Opportunity

      Retail space for sale in Fort Wayne, Indiana.
      101 W Washington Center Rd, Fort Wayne, IN 46825
      View Details
    • New
      $650,000
      7,114 SF

      Historic Landmark Ready for Renovation

      Five-story mixed-use building in downtown Fort Wayne, ready for renovation.
      812 S Calhoun St, Fort Wayne, IN 46802
      View Details
    • $620,000
      3,000 SF

      Remodeled Building Near Downtown

      3,000 sq ft remodeled building suitable for retail or office.
      2332 N Clinton St, Fort Wayne, IN 46805
      View Details
    • $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
    • $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
    • $225,000
      0.05 Acres

      Turnkey Restaurant/Bar in Fort Wayne

      Commercial property in Fort Wayne's historic Main Street district.
      1201 W Main St, Fort Wayne, IN 46808
      View Details
    • $499,000
      3,406 SF

      Six-Unit Investment Property in Fort Wayne

      Six-unit property with income potential near local amenities.
      4013 S Swayne Ave, Fort Wayne, IN 46807
      View Details
    • $189,900
      2,500 SF

      Fort Wayne Office For Sale

      2500 SF office space in central Fort Wayne location.
      7319 W Jefferson Blvd, Fort Wayne, IN 46804
      View Details
    • $1,200,000
      8,325 SF

      Modern Industrial Flex Space

      Versatile manufacturing/warehouse facility in Centennial Industrial Park.
      3209 Clearfield Ct, Fort Wayne, IN 46808
      View Details
    • $789,900
      2,947 SF

      Mixed-Use Property Near Google Center

      1.27-acre C2 zoned property with restaurant/bar and residential home.
      7405/7409 Wayne Trce, Fort Wayne, IN 46816
      View Details

    FAQs

    What type of property is this?
    Land - Hard corner lot with high visibility and traffic counts.
    Where is this land located?
    The property is located at 4230 Lake Ave Fort Wayne, IN.
    What are key features of this property?
    This property features: - Excellent visibility on the busy Coliseum Boulevard retail corridor; - High traffic counts of over 40,000 vehicles per day; - Ample parking available
    (260) 341-0230
    Request Owner's contact information
    4230 Lake Ave Fort Wayne, IN 46815
    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.
    4230 Lake Ave
    Fort Wayne, IN 46815
    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
    4230 Lake Ave Fort Wayne, IN 46815
    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
    Rachel Romary
    Rachel Romary
    Real Estate License ID: #RB14043846
    (260) 341-0230 (260) 422-2150
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!