Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    203 Wayne St Fort Wayne, IN 46802

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    203 Wayne St Fort Wayne, IN 46802

    View on Map
    • Office properties & Spaces
    • 72,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Intellitek Systems, Inc. / (Bike/Boat/Book/etc) Store / Corporate Office
    • June Wellness LLC / Psychotherapist
    • Forrest Legal LLC / Law Firm
    • CBD Management Services / Business Management Consultant / Professional Services
    • Addie Fath Photography / Photography Service / (Bike/Boat/Book/etc) Store

    Property Details for 203 Wayne St

    Year built
    1920
    Property size
    72,000 SF
    Property type
    Office properties & Spaces
    Property subtype
    Office Units

    Description

    This exceptional 72,000 square foot, four-story Class C office building, constructed in 1920 and renovated in 2011, offers executive and creative office spaces. Located at 203 West Wayne Street in Fort Wayne, Indiana, this property boasts a highly visible location directly across from Ash Skyline Plaza and just one block north of the Grand Wayne Center, ensuring excellent accessibility and exposure. The building features one passenger elevator and offers multiple tenancy options, with a minimum divisible space of 315 square feet and a maximum contiguous space of 1,128 square feet. Currently, 1,443 square feet of space is vacant, divided into two suites. The 0.76-acre lot is zoned DC and is situated in Allen County's Downtown submarket. Full-service lease terms are available at a competitive rate of $13.50 per square foot. The building's address is 203 West Wayne Street, with a cross street of Harrison Street, and the APN is 02-12-02-456-005.000.074. This is a rare opportunity to secure prime office space in a thriving downtown location. No on-site parking is available.

    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
    -85.1413
    Latitude
    41.078

    Comparable in this City

    • Value Estimation by Request

      110 Wayne St

      Office Units
      110 Wayne St, Fort Wayne, IN 46802
      View Details
    • Value Estimation by Request
      9,505 SF

      111 Wayne St

      Medical Office Space • 9,505 SF
      111 Wayne St, Fort Wayne, IN 46802
      View Details
    • Value Estimation by Request
      103,226 SF

      1690 Broadway

      Office Units • 103,226 SF
      1690 Broadway, Fort Wayne, IN 46802
      View Details
    • Value Estimation by Request
      136,009 SF

      111 Wayne St

      Office Units • 136,009 SF
      111 Wayne St, Fort Wayne, IN 46802
      View Details
    • Value Estimation by Request
      63,349 SF

      1626 Broadway

      Office Units • 63,349 SF
      1626 Broadway, Fort Wayne, IN 46802
      View Details
    • Value Estimation by Request
      7,736 SF

      1750 Broadway

      Office Units • 7,736 SF
      1750 Broadway, Fort Wayne, IN 46802
      View Details

    Similar Nearby for Sale

    • $139,900
      0.08 Acres

      Fort Wayne Mixed-Use Building

      Mixed-use building suitable for auto repair, body shop, or warehouse.
      1915 S Clinton St, Fort Wayne, IN 46802
      View Details
    • $1,200,000
      2,542 SF

      Historic Building Near The Landing

      Historic 3-story building near The Landing, ideal for office/retail.
      620 S Calhoun St, Fort Wayne, IN 46802
      View Details
    • Contact for pricing
      40,000 SF

      Prime Downtown Development Opportunity

      1.27 acre lot ideal for various commercial developments.
      333 E Washington Blvd, Fort Wayne, IN 46802
      View Details
    • Contact for pricing
      92,500 SF

      Historic Downtown Office Building

      Prime Fort Wayne investment opportunity.
      127 Berry St, Fort Wayne, IN 46802
      View Details
    • $3,250,000
      1,065 SF

      Historic Brick Office Building Downtown

      Five-story, 24,438 SF office building in downtown Fort Wayne.
      229 W Berry St, Fort Wayne, IN 46802
      View Details
    • Contact for pricing

      Class A Office Building

      Ten-story Class A office building in the Central Business District.
      200 E Main St, Fort Wayne, IN 46802
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing

      Prime Fort Wayne Office Space

      Excellent commercial space in a vibrant downtown Fort Wayne location.
      203 W Wayne St, Fort Wayne, IN 46802
      View Details
    • Contact for pricing

      Mixed-Use Space in Downtown Fort

      Mixed-use space for rent in downtown Fort Wayne.
      248 W Main St, Fort Wayne, IN 46802
      View Details
    • Contact for pricing
      2,593 SF

      Versatile Space in Enterprise Zone

      Office, showroom, and warehouse space available in Fort Wayne.
      1609 S Calhoun St, Fort Wayne, IN 46802
      View Details
    • Contact for pricing

      Fort Wayne Commercial Space Available

      1,566 SF commercial space with modern industrial design.
      534 W Berry St, Fort Wayne, IN 46802
      View Details
    Request Owner's contact information
    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.
    203 Wayne St
    Fort Wayne, IN 46802
    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
    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

    Thank You for Inquiry

    203 Wayne St, Fort Wayne, IN, 46802

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!