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    6648-6656 St. Joe Rd Fort Wayne, IN 46835
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    6648-6656 St. Joe Rd Fort Wayne, IN 46835

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    • Lifestyle centers
    • 0.91 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 6648-6656 St. Joe Rd

    Year built
    1962
    Lot size
    0.91 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 16,900 square foot shopping center, located at 6648-6656 St. Joe Road in Fort Wayne, Indiana, presents a compelling investment opportunity. Built in 1962, this two-story building sits on a 0.91-acre corner lot (APN: 02-08-17-253-001.000-072) and boasts a high visibility location within the well-established Shoaff Park Plaza. Currently 95% leased, the property features both upper and lower-level rental spaces, providing diverse income streams. Recent updates enhance its appeal to tenants and investors alike. Ample parking is available both in the front and rear of the building, ensuring convenient access for shoppers and employees. This prime Fort Wayne location offers significant potential for long-term growth and return on investment. The property's strong tenancy history and desirable location make it an attractive asset for discerning buyers seeking a stable and profitable retail investment. The asking price is $749,900. Don't miss this chance to acquire a well-maintained, high-traffic retail center in a thriving Fort Wayne neighborhood.

    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
    -85.0897
    Latitude
    41.1436

    Comparable in this City

    • Value Estimation by Request
      63,543 SF

      3201 St Joe Ctr Rd

      Lifestyle centers • 63,543 SF
      3201 St Joe Ctr Rd, Fort Wayne, IN 46835
      View Details
    • Value Estimation by Request
      0.28 Acres

      4600 Maplecrest Rd

      SHOPPING CENTER, STRIP CENTER • 0.28 Acres
      4600 Maplecrest Rd, Fort Wayne, IN 46835
      View Details
    • Value Estimation
      $530,000
      13,920 SF

      10150 Maysville Rd

      SHOPPING CENTER, STRIP CENTER • 13,920 SF
      10150 Maysville Rd, Fort Wayne, IN 46835-9589
      View Details
    • Value Estimation
      $740,000
      36,200 SF

      10530 Maysville Rd

      SHOPPING CENTER, STRIP CENTER • 36,200 SF
      10530 Maysville Rd, Fort Wayne, IN 46835-9244
      View Details
    • Value Estimation by Request
      2.09 Acres

      4520 Maplecrest Rd

      SHOPPING CENTER, STRIP CENTER • 2.09 Acres
      4520 Maplecrest Rd, Fort Wayne, IN 46835-3970
      View Details
    • Value Estimation by Request
      7,326 SF

      10446 Maysville Rd

      SHOPPING CENTER, STRIP CENTER • 7,326 SF
      10446 Maysville Rd, Fort Wayne, IN 46835-9762
      View Details

    Similar Nearby for Sale

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      69,023 SF

      Maplecrest Road Retail/Industrial Space

      Retail/Industrial space with flexible layout and truck docks.
      7301 Maplecrest Rd, Fort Wayne, IN 46835
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    • $175,000

      Commercial Lot For Sale

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      Commercial Lot on Maplecrest Road

      Commercial land ideal for office, medical, retail, and restaurant.
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      Commercial Lots on St. Joe

      Seven commercially zoned lots ideal for development on busy road.
      6452 Saint Joe Center Rd, Fort Wayne, IN 46835
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      Fort Wayne Development Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      2,813 SF

      Retail Space Available For Lease

      2813 square feet of retail space for lease.
      4515 Maplecrest Rd, Fort Wayne, IN 46835
      View Details
    • $17 SF/Yr

      High-Traffic Retail Space Available

      Prime retail location with excellent visibility and accessibility in Fort Wayne.
      10178 Maysville Rd, Fort Wayne, IN 46835
      View Details
    • $21 SF/Yr
      1,667 SF

      Retail Space in High-Traffic Area

      Retail space available in a well-established Fort Wayne shopping center.
      10172-10180 Maysville Rd, Fort Wayne, IN 46835
      View Details
    • Contact for pricing

      Chapel Ridge Retail Opportunity

      Prime retail spaces available in high-traffic Fort Wayne shopping center.
      10178 Maysville Rd, Fort Wayne, IN 46835
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    • Contact for pricing

      Retail Space in Northwood Plaza

      60,441 SF retail center anchored by Target and others.
      6101 Stellhorn Rd, Fort Wayne, IN 46835
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    • $13 SF/Yr
      6,000 SF

      Retail Suites Near Kroger Center

      Retail suites available, shadow-anchored by Kroger Shopping Center.
      6202 Saint Joe Center Rd, Fort Wayne, IN 46835
      View Details
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    Fort Wayne, IN 46835
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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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