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    Downtown Fort Wayne Art Deco Office Title is generated by Realmo AI

    809 S Calhoun St, Fort Wayne, IN 46802

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    Unique downtown office space with iconic neon patio.

    Type:Office
    Property size:
    4,956 SF
    Added:
    Apr 17, 2020
    Days on Market:
    2234
    Last Refresh:
    May 12 at 11:39 pm

    Property Features for 809 S Calhoun St

    General Information

    Standard status
    Active
    Size
    4,956 SF
    Property subtype
    Office

    Spaces For Lease

    at 809 S Calhoun St Contact us

    Suite 200 $14/Mo

    Size
    3,525 SF
    Type
    Office
    Recently remodeled second floor office space available for lease. This space has...
    show more
    Contact us

    Suite 307 $14/Mo

    Size
    713 SF
    Type
    Office
    713 SF full-service office lease available at 809 S Calhoun St Ste 307. This suite...
    show more
    Contact us

    We can help!

    Listing Contact
    Jill Hieber
    Jill Hieber

    Listing agent Jill Hieber License #IN RB14040317

    Listing office Steffen Group Auctioneers & Real Estate

    Listing date Apr 17, 2020

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Steffen Group Auctioneers & Real Estate

    HighLights

    • Iconic neon patio space overlooking Calhoun Street.
    • Unique Art Deco building in downtown Fort Wayne.
    • Two private floors (6th & 7th) with a private staircase.
    • Rooftop patio access from the 7th‑floor executive office/conference room.
    • 4,956 SF suite with a mix of reception, private offices, and open workspace.
    • Prime downtown location near the Allen County Courthouse, Convention Center, and Parkview Field.

    Overview

    Located in the heart of downtown Fort Wayne, The Murphy Building stands as one of the area's only Art Deco style buildings. One suite remains available, offering 4,956 square feet of office space. The building overlooks the renovated South Calhoun Corridor, positioning it half a block from the Historic Allen County Courthouse and within walking distance of the Convention Center and Parkview Field. Suite 600 and 700 offers a mix of reception area, private offices, and open concept workspace. Accessed by a private staircase, the 7th floor features a large private executive office or conference room with access to the rooftop patio, along with another large open office, private bathroom, and a kitchen. This suite is suitable for attorneys, design professionals, and other businesses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Christopher C Myers ... Law Firm Three Rivers Bankruptcy Law Firm Anthony Wayne Credit ... Credit Union Fort Wayne 360 ... Photography Service Myers & Wallace, LLP Law Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1393589
    Latitude
    41.0789134

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    FAQs

    What type of property is this?
    Office units - Unique downtown office space with iconic neon patio.
    Where is this office units located?
    The property is located at 809 S Calhoun St Fort Wayne, IN.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Iconic neon patio space overlooking Calhoun Street.; Unique Art Deco building in downtown Fort Wayne.; Two private floors (6th & 7th) with a private staircase.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jill Hieber
    Jill Hieber
    Real Estate License ID: IN RB14040317
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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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