Add Listing
    For Lease
    • 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

    7223 Engle Rd Fort Wayne, IN 46804

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

    Office space for lease near Lutheran Hospital and I-69.

    Property size:
    5,119 SF
    Lot size:
    2.44 Acres

    Property Features for 7223 Engle Rd

    General Information

    Size
    5,119 SF
    Lot size
    2.44 Acres

    We can help!

    Listing Contact
    Shelby Wilson
    Shelby Wilson
    Source: Moodyscre

    Listing Agency: Sturges Property Group Listing Agent: Shelby Wilson

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

    Learn more

    Property Insight Report

    Overview

    Office Space Near Lutheran Hospital

    Located in southwest Fort Wayne, less than one mile from Lutheran Hospital and I-69, this office space is situated in Midwestern Office Park. The property is within seven miles of downtown Fort Wayne and the Fort Wayne International Airport. The available space is suitable for businesses seeking to advance to the next level. The property features front-door parking on both levels. Leases are full-service and include professional management. The property contains 5119 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Performance Services Inc. Construction Company Scherer Capital Management, ... Financial Advisor All Risks, Ltd. Insurance Agency Moake Park Group ... Architect Andrea Haller Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.2372865
    Latitude
    41.0429973

    Nearby Similar for Lease

    • $17 SF/Yr
      2,734 SF

      Downtown Fort Wayne Mixed-Use Building

      Prime downtown location suitable for office, retail, or live/work.
      529 W Jefferson Blvd, Fort Wayne, IN 46802
      View Details
    • $1,400 /Mo
      828 SF

      Renovated Office Space Available

      Move-in ready office space with flexible layout in Fort Wayne.
      3109 Oxford St, Fort Wayne, IN 46806
      View Details
    • $15 SF/Yr
      4,015 SF

      Fort Wayne Retail/Office Spaces

      Prime retail/office spaces in southwest professional office park.
      4011 W Jefferson Blvd, Fort Wayne, IN 46804
      View Details
    • $500 /Mo
      216 SF

      Versatile Space in Fort Wayne

      Customizable space ideal for various business uses in Fort Wayne.
      2429 W Main St, Fort Wayne, IN 46802
      View Details
    • Sponsored
      Contact for pricing

      Fort Wayne, IN - Indiana Michigan Power Building

      Discover many ways to work your way in WA, Seattle - Andover Park W
      110 Wayne St, Fort Wayne, IN 46802
      View Details
    • $1,500 /Mo
      905 SF

      Prime Office Location For Lease

      Office space for lease near I-69 and Illinois Rd.
      1319 Magnavox Ste 400 Way, Fort Wayne, IN 46804
      View Details
    • $1,200 /Mo
      504 SF

      Office Space Near I-69

      Office space for lease near I-69 and Illinois Rd.
      1319 Magnavox Ste 200 Way, Fort Wayne, IN 46804
      View Details
    • $2,100 /Mo
      1,625 SF

      Versatile Commercial Space For Rent

      Adaptable commercial space suitable for retail, services, or creative enterprises.
      6720 Old Trail Rd, Fort Wayne, IN 46809
      View Details
    • $2,250 /Mo
      8,360 SF

      Versatile Downtown Fort Wayne Warehouse

      Functional industrial space in downtown Fort Wayne, ideal for various uses.
      1205 W Main St, Fort Wayne, IN 46808
      View Details
    • $750 /Mo
      700 SF

      Historic Carriage House Office Space

      Charming office space in a historic Fort Wayne carriage house.
      916 Fairfield Ave, Fort Wayne, IN 46802
      View Details
    • $750 /Mo
      690 SF

      Creative Office Space Downtown

      Historic carriage house with industrial vibe, ideal for creative business.
      916 Fairfield Ave, Fort Wayne, IN 46802
      View Details
    • $700 /Mo
      570 SF

      Fort Wayne Office/Retail Space

      Office/retail space available on a busy corner in Fort Wayne.
      2325 Spy Run Avenue Ext, Fort Wayne, IN 46805
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for lease near Lutheran Hospital and I-69.
    Where is this office units located?
    The property is located at 7223 Engle Rd Fort Wayne, IN.
    What are key features of this property?
    This property features: - Prime location less than one mile from Lutheran Hospital and I-69.; - Convenient front-door parking on both levels.; - Full-service leases available.
    (260) 424-8448 Call to check price and availability
    Request Owner's contact information
    7223 Engle Rd Fort Wayne, IN 46804
    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.
    7223 Engle Rd
    Fort Wayne, IN 46804
    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
    7223 Engle Rd Fort Wayne, IN 46804
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Shelby Wilson
    Shelby Wilson
    Real Estate License ID: RB23001509
    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!