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    Property profile & analytics

    111 Wayne St Fort Wayne, IN 46802

    • Retail properties
    • 9,505 SF
    For Sale
    View listing
    $1,100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bomberger Jon A / Attorney
    • Summit Data / Data Recovery Service / Computer Consultant
    • Kiplinger Law Firm, P.C. / Attorney / Bankruptcy Attorney
    • Baker & Daniels: Hoffman John F / Attorney
    • Wells Fargo Private Bank / Investment Service

    Property Details for 111 Wayne St

    Property size
    9,505 SF
    Property type
    Retail properties
    Property subtype
    Office Properties & Spaces

    Description

    This exceptional 9,505 square foot, single-story Class B building at 111 W Wayne St, Fort Wayne, IN 46802, is situated in the heart of downtown's revitalization area. Currently 41% occupied, with tenants including Jimmy John's and the Downtown Improvement District offices, this property presents a rare investment or owner-user opportunity. The building, renovated in 2021, features 5,605 square feet of net rentable space and is zoned DC-Downtown Core. The asking price is $1,100,000, translating to $126.25 per square foot. The property's high visibility at the corner of Wayne and Calhoun Streets offers excellent exposure. Its proximity to numerous restaurants, banks, legal, and governmental offices enhances its appeal. The existing office space is adaptable for retail use, with a reduced lease rate of $15 per square foot, full-service, available. This multi-tenant building offers a unique chance to capitalize on Fort Wayne's thriving downtown scene. The Allen County property (APN: 02-12-02-458-002.000-074) is a single building with one unit.

    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
    -85.1397
    Latitude
    41.0782

    Comparable in this City

    • Value Estimation by Request
      72,000 SF

      203 Wayne St

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      203 Wayne St, Fort Wayne, IN 46802
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      1.27 Acres

      333 Washington Blvd

      Retail properties • 1.27 Acres
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    • Value Estimation by Request
      92,137 SF

      101 Three Rivers

      Office Properties & Spaces • 92,137 SF
      101 Three Rivers, Fort Wayne, IN 46802
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    • Value Estimation by Request
      40,000 SF

      333 Washington Blvd

      Office Properties & Spaces • 40,000 SF
      333 Washington Blvd, Fort Wayne, IN 46802
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    • Value Estimation by Request
      9,505 SF

      111 Wayne St

      Medical offices • 9,505 SF
      111 Wayne St, Fort Wayne, IN 46802
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    • Value Estimation by Request
      125,000 SF

      102 Superior St

      Medical offices • 125,000 SF
      102 Superior St, Fort Wayne, IN 46802
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    Similar Nearby for Sale

    • $1,100,000
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      Downtown Fort Wayne Office/Retail

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    • $1,500,000
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      Prime 1.27-acre lot, 40,000 SF.
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      Downtown Fort Wayne Gem

      Iconic building, 101,442 SF, redevelopment opportunity
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    • $1,400,000
      14.84 Acres

      Wildwood Commons: 14 Acres

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    • Contact for pricing
      92,500 SF

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      Prime Fort Wayne investment opportunity.
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    Similar Nearby for Lease

    • $15 SF/Yr
      40,000 SF

      Historic Downtown Office Space

      Prime Allen County office, 40,000 sq ft, build-to-suit.
      333 Washington Blvd, Fort Wayne, IN 46802
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    • $19 SF/Yr
      50,715 SF

      Downtown Fort Wayne Office Space

      Prime location, 2,718 sq ft available
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    • $13 SF/Yr
      92,137 SF

      Downtown Fort Wayne Office Space

      Prime Office & Retail Suites Available
      101 Three Rivers, Fort Wayne, IN 46802
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    • $14 SF/Yr
      13,636 SF

      Historic Downtown Fort Wayne Office

      13,636 SF Office, Two Buildings
      334 Berry St, Fort Wayne, IN 46802
      View Details
    • $15 SF/Yr
      9,505 SF

      Calhoun City Center Office Space

      Downtown Fort Wayne Office, Retail Opportunity
      111 Wayne St, Fort Wayne, IN 46802
      View Details
    • $24 SF/Yr
      136,009 SF

      Downtown Fort Wayne Office Space

      12,979 SF Available, Prime Location
      111 Wayne St, Fort Wayne, IN 46802
      View Details
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    111 Wayne St
    Fort Wayne, IN 46802
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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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