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    Lake Avenue Medical Corridor Space Title is generated by Realmo AI

    3030 Lake Ave, Fort Wayne, IN 46805

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    Medical/office space for lease in Fort Wayne's medical district.

    Type:Office
    Added:
    Jan 4, 2021
    Days on Market:
    1971
    Last Refresh:
    May 12 at 11:00 pm

    Property Features for 3030 Lake Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1972

    Spaces For Lease

    at 3030 Lake Ave Contact us

    Suite 25 $14/Mo

    Size
    914 SF
    Type
    Office
    Contact us

    Suite 25A $14/Mo

    Size
    1,078 SF
    Type
    Office
    Contact us

    Suite 19 $14/Mo

    Size
    2,039 SF
    Type
    Office
    Contact us

    Suite 8 $14/Mo

    Size
    905 SF
    Type
    Office
    Abundant space for lease in the heart of the Lake Avenue medical corridor. This building...
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    Contact us

    Suite 23 $12/Mo

    Size
    1,388 SF
    Type
    Office
    Abundant space for lease in the heart of the Lake Avenue medical corridor. This building...
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    Suite 4 $14/Mo

    Size
    1,220 SF
    Type
    Office
    Abundant space for lease in the heart of the Lake Avenue medical corridor. This building...
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    Suite 21 $14/Mo

    Size
    2,483 SF
    Type
    Office
    Abundant space for lease in the heart of the Lake Avenue medical corridor. This building...
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    Suite 30 $2/Mo

    Size
    186 SF
    Type
    Office
    Contact us

    Suite 32 $10/Mo

    Size
    3,675 SF
    Type
    Office
    Contact us

    Suite 30/32 $10/Mo

    Size
    3,861 SF
    Type
    Office
    Contact us
    Show more

    We can help!

    Listing Contact
    Neal Bowman
    Neal Bowman

    Listing agent Neal Bowman License #IN RB14026402

    Listing office Sturges Property Group

    Listing date Jan 4, 2021

    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 Sturges Property Group

    HighLights

    • Located in the heart of the Lake Avenue medical corridor
    • Recently underwent $250,000 in improvements, including facade upgrades and common area renovations
    • Units available in a variety of sizes and configurations, each with dedicated restrooms and extensive plumbing
    • ADA compliant with four separate entrances and plenty of surface parking
    • Located near major medical facilities, including Parkview Hospital and VA Northern Indiana Health Care System
    • Lease rates range from $10.00 - $14.00 per square foot per year

    Overview

    Located in the heart of the Lake Avenue medical corridor, this building offers abundant space for lease with units in a variety of sizes and configurations. Each unit includes dedicated restrooms and extensive plumbing. The building is ADA compliant and features four separate entrances and ample surface parking. The property has undergone over $250,000 in improvements under new ownership. These improvements include facade upgrades, signage, mechanical and electrical improvements, common area renovations, LED lighting, parking lot sealcoat and striping, and the addition of a gourmet vending machine. Situated on the south side of Lake Avenue, just west of Hobson Road, 3030 Lake Avenue is well-placed in one of Fort Wayne’s major medical and service districts. Nearby neighbors include Parkview Hospital - Randallia, VA Northern Indiana Health Care System, St. Anne Home & Retirement Community, Crossroad Child & Family Services, and the newly-developed $38 million Byron Health Center. The property is suitable for medical office and general office use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Luarde Deborah M ... Dental Office Patsy A. Donn, EdD Physician Hoosier Physical Therapy Physician Parkview Physicians Group Physician Referral Service Van Den Driess ... Geriatric Care Provider

    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.

    Similar Places Nearby

    • East State Veterinary Clinic — 3319 E State Blvd, Fort Wayne, IN 46805
    • East State Veterinary Clinic: Dziak Kelly J DVM — 3319 E State Blvd, Fort Wayne, IN 46805
    • East State Veterinary Clinic: Clemente Paul F DVM — 3319 E State Blvd, Fort Wayne, IN 46805
    • Humane Fort Wayne Wellness Clinic — 1333 Maycrest Dr, Fort Wayne, IN 46805
    • Humane Fort Wayne — 1333 Maycrest Dr, Fort Wayne, IN 46805

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.0996493
    Latitude
    41.0899573

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    FAQs

    What type of property is this?
    Medical Office Space - Medical/office space for lease in Fort Wayne's medical district.
    Where is this medical office space located?
    The property is located at 3030 Lake Ave Fort Wayne, IN.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Located in the heart of the Lake Avenue medical corridor; Recently underwent **$250,000 in improvements**, including facade upgrades and common area renovations; Units available in a variety of sizes and configurations, each with dedicated restrooms and extensive plumbing
    (260) 424-8448 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Neal Bowman
    Neal Bowman
    Real Estate License ID: IN RB14026402
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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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