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Property profile & analytics
OFF-MARKET
Estimated value
$2,490,000
Turn key restaurants
118 Columbia St Fort Wayne, IN 46802-1725
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-3430414
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1890
Construction
TYPE NOT SPECIFIED
Total area
65,100 SF
Lot
0.23 ac (10,125 SF)
APN
02-12-02-405-004.000-074
UPID
US31-3430414
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
GnomeTown Brewing Co Production Facility Brewery & Distillery
-
Utopian Coffee + Kitchen Cafe & Coffee Shop
-
Paper Mill Workspace Coworking & Hybrid Office
-
Grow My Ads Marketing & Advertising Advertising Agency
-
3BG Supply Co. Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.49M
Owner & transaction history
The Landing I LLC · 6 yrs held
The Landing I LLC
since 2019
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Wayne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$38 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$80,881
Tax year 2023
Assessed value
$3,128,200
Assessed 2023
Previous assessed
$3,128,200
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$151,900
Assessed improvement
$2,976,300
Land market value
$151,900
Improvement market value
$2,976,300
Total market value
$3,128,200
Applied tax rate
91.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1890
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
7
Units
18
Total area
65,100 SF
Lot
0.23 ac (10,125 SF)
APN
02-12-02-405-004.000-074
UPID
US31-3430414
Jurisdiction
ALLEN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1890
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
7
Units
18
Lot
0.23 ac
Current owner
From public records · entity-resolved
The Landing I LLC
Entity
Free & Clear · 6 yrs held
Mailing address
1826 RACE ST, CINCINNATI, OH 45202-7720
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2019
—
Utopian Coffee Company LLC
—
Deed
related
$1,960,000 · Rose Urban Green Sub Cde Xviii LLC
Aug 8, 2019
—
The Landing I LLC
The Landing I LLC
Intrafamily Transfer
related
—
Aug 6, 2018
—
Teh Landing I LLC
—
Deed
related
$4,410,000 · Fwnmrf Cde Vi LLC
May 15, 2018
—
The Landing I LLC
—
Deed
related
$4,388,598 · Old National Bank
Dec 31, 2014
—
Fort Wayne Downtown Development Tru
Flashback Building At LLC
Warranty Deed
—
May 28, 2008
—
Flashback Building At LLC
Fishers Building INC
Corporation Deed
$618,608 · First Merchants Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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