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    Property profile & analytics

    2712 Covington Rd Fort Wayne, IN 46802-6912

    • Industrial properties
    • 2,048 SF
    • 2.97 lot acres
    For Sale
    View listing
    $475,000
    Value Estimation
    Location Intelligence
    Property ID
    US31-0880158
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 2712 Covington Rd

    Year built
    1977
    Construction
    WOOD
    Lot size
    2.97 lot acres
    Property size
    2,048 SF
    Property type
    Industrial properties
    APN
    02-12-09-476-004.000-074
    APU
    21209476004000074

    Description

    This exceptional investment opportunity presents a fully operational salvage yard located at 2712 Covington Road, Fort Wayne, Indiana, 46802-6912. The property encompasses a substantial 2.97 acres and boasts a total square footage of 129,373. Currently operating as a thriving salvage business, the sale includes all existing assets, inventory, and equipment on the premises. This includes approximately 150 vehicles. The property is zoned specifically for salvage operations, including dismantling auto parts and subsequent sales. This zoning provides a clear path for continued operation or potential redevelopment within the existing framework. The asking price for this turnkey operation is $475,000. Given the size of the lot, the existing business, and the favorable zoning, this presents a rare opportunity for investors seeking a profitable venture in the automotive salvage industry. The property's location in Allen County, Fort Wayne, offers convenient access to major transportation routes and a strong local market. Serious inquiries are encouraged to explore this unique investment opportunity further.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $295,000

    • CAP approach

      CAP return
      Estimation
      6%
      $380,000
      6.5%
      $385,000
      7%
      $440,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $360,000
      Geo Method
      $385,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $395,000
      Retail
      $355,000
      Mixed-Use
      $405,000
      Hospitality
      $355,000
      Educational
      $360,000
      Residential Income
      $315,000
      Energy
      $330,000
      Income-Based Land
      $385,000
      Food Service
      $375,000

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1754
    Latitude
    41.0611
    CBSA code
    23060
    CBSA name
    FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,184
    $44,600
    $36,400
    $81,000
    -
    $44,600
    $36,400
    $81,000

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    2712 Covington Rd
    Fort Wayne, IN 46802-6912
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    Realmo Value Estimation

    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.

    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.

    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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