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    11115 Lima Rd Fort Wayne, IN 46818
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    11115 Lima Rd, Fort Wayne, IN 46818

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    • Medical Office Space
    • 4,366 SF
    • 1.18 lot acres
    For Lease
    $24 SF/Yr
    View Listing →
    Well-Equipped Office Building For Rent For Lease
    $24 SF/Yr
    6,152 SF

    Well-Equipped Office Building For Rent

    Two-story office building with kitchen, parking, and high visibility.

    11115 Lima Rd, Fort Wayne, IN
    View Listing
    Property ID
    US31-0347056
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dental Consultants-Ne Indiana / Dental Office
    • Dr. Matthew D. Haller, DMD / Dental Office
    • Dr. Crystal Jencks / Pediatrician / Physician

    Property Details for 11115 Lima Rd

    Year built
    2004
    Construction
    WOOD
    Lot size
    1.18 lot acres
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    02-02-32-156-009.000-091
    APU
    20232156009000091

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 28, 2022 — Scott Investors LLC — Deed · related $1.3M · Lake City Bank
    Jul 5, 2013 $415,269 Scott Investors LLC Titan Exchange 1 LLC Deed —
    May 15, 2013 $420,000 Titan Exchange 1 LLC Salin Bank And Trust Co Corporation Deed —
    Jan 25, 2012 $375,000 Salin Bank & Trust Company Matthew D Haller Sheriffs Deed · related —
    Oct 27, 2006 — Matthew D Haller Matthew Haller Intrafamily Transfer · related —

    Description

    This exceptional 6,875 square foot medical office building, constructed in 2004, is situated on a 1.18-acre lot in Fort Wayne, Indiana, and zoned AR. The property boasts excellent visibility and signage due to its location directly off Lima Road. Currently, one suite of 5,924 square feet is available for immediate occupancy. This move-in ready space features numerous labs and exam rooms, a fully equipped kitchen, a staff break room, administrative office space, and a private provider office complete with a full bathroom including a shower. The building offers ample paved parking and attractive landscaping. The multiple-tenancy building presents a fantastic opportunity for medical professionals seeking a well-appointed and conveniently located practice space. The property's features and location make it an ideal setting for a thriving medical practice. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1669
    Latitude
    41.1848
    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
    $15,928
    $154,200
    $467,700
    $621,900
    -
    $154,200
    $467,700
    $621,900

    Comparable in this City

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    • Value Estimation
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      12404 Lima Xing Dr

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    • Value Estimation
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      4,992 SF

      10505 Lima Rd

      MEDICAL BUILDING
      10505 Lima Rd, Fort Wayne, IN 46818-9536
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    • Value Estimation by Request
      1,804 SF

      9536 Lima Rd

      MEDICAL BUILDING
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      3,318 SF

      7505 Lima Rd

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    • Value Estimation
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      12,402 SF

      9021 Lima Rd

      MEDICAL BUILDING
      9021 Lima Rd, Fort Wayne, IN 46818
      View Details

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    Similar Nearby for Lease

    • $16 SF/Yr

      Office Space in Siena Office Park

      7,133 SF office space for lease in high-traffic area.
      9600 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      6,152 SF

      Well-Equipped Office Building For Rent

      Two-story office building with kitchen, parking, and high visibility.
      11115 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      120,000 SF

      High-Quality Office Space Available

      Office, manufacturing, and distribution space for lease in Fort Wayne.
      1919 W Cook Rd, Fort Wayne, IN 46818
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      Office/Retail Space on Lima Road

      2,400 SF office/retail space in North Fort Wayne.
      9013 Lima Rd, Fort Wayne, IN 46818
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    • Contact for pricing

      High-Quality Office Space Available

      Office, manufacturing, and distribution space for lease in Fort Wayne.
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    • Contact for pricing
      1,050 SF

      Lima Road Retail/Office Space

      Retail or office space available on Lima Road.
      9121 Lima Rd, Fort Wayne, IN 46818
      View Details
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    Fort Wayne, IN 46818
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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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