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    901 Chestnut Hills Pkwy Fort Wayne, IN 46814

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    901 Chestnut Hills Pkwy Fort Wayne, IN 46814

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    • Office properties & Spaces
    • 19,780 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • appliance repair in Fort Wayne / Home Appliance Store
    • Chestnut Hills Office park / Business Service Center / Corporate Office
    • American Senior Communities / Hotel & Motel / Bed & Breakfast

    Property Details for 901 Chestnut Hills Pkwy

    Year built
    2003
    Property size
    19,780 SF
    Property type
    Office properties & Spaces
    Property subtype
    Office Units

    Description

    This exceptional Class A office space, located at 901 Chestnut Hills Pkwy in Fort Wayne, Indiana, offers a prime opportunity for businesses seeking flexible and modern accommodations. The Chestnut Hills Office Park is a well-established complex featuring four buildings, each boasting attractive common areas and convenient front door parking for clients. This single-story building, constructed in 2003, totals 19,780 square feet and is zoned C1A-P within Allen County. Currently, 7,305 square feet of vacant space is available, divisible into units as small as 1,948 square feet, with a maximum contiguous space of 3,162 square feet. The property offers a variety of configurations to suit various business needs, from traditional office layouts to executive suites. The park's beautifully landscaped entrance, complete with a traffic light, ensures easy access and high visibility. This is an ideal location for businesses seeking a professional and convenient workspace in a thriving area of Fort Wayne. The property's location in Allen County, Indiana, and its proximity to major roadways, provides excellent accessibility for employees and clients alike. The available space presents a unique opportunity to establish or expand your business in a highly desirable and well-maintained office park.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.2908
    Latitude
    41.0755

    Comparable in this City

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      7127 Homestead Rd Ste I

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    • Value Estimation by Request
      900 SF

      7127 Homestead Rd Ste J

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    • Value Estimation
      $13,275,000
      143,900 SF

      4312 Homestead Rd

      OFFICE (GENERAL) • 143,900 SF
      4312 Homestead Rd, Fort Wayne, IN 46814-5400
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    • Value Estimation by Request
      1,200 SF

      7127 Homestead Rd Ste D

      OFFICE (GENERAL) • 1,200 SF
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    • Value Estimation by Request
      900 SF

      7127 Homestead Rd Ste H

      OFFICE (GENERAL) • 900 SF
      7127 Homestead Rd Ste H, Fort Wayne, IN 46814-4601
      View Details

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      Commercial Land in Fort Wayne

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    Similar Nearby for Lease

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      Retail/Office Space Ready

      Retail and office spaces available for build out.
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      Office Space in Fort Wayne

      Office space available for lease in southwest Fort Wayne, Indiana.
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    • $16 SF/Yr
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      Class A Office Space Available

      Office space for sublease in Chestnut Hills Office Park.
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      1,500 SF

      Retail Space in Homestead Center

      Retail space available in Homestead retail and office center.
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    Fort Wayne, IN 46814
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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.

    More about this property
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    901 Chestnut Hills Pkwy, Fort Wayne, IN, 46814

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