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    13500 Lima Rd Fort Wayne, IN 46818
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    13500 Lima Rd, Fort Wayne, IN 46818

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    • Commercial land
    For Sale
    $3,400,000
    View Listing →
    Prime Corner for Development For Sale
    $3,400,000

    Prime Corner for Development

    Excellent commercial/retail development opportunity in a fast-growing area.

    13500 Lima Rd, Fort Wayne, IN 46818
    View Listing
    Property ID
    US31-2330946
    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

    • Commercial land

    Property Details for 13500 Lima Rd

    Year built
    1950
    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 9, 2016 — Straessie Brohers LLC R N T LLC Quitclaim Deed · related —

    Description

    Excellent Prime Corner for Commercial / Retail development This corner has a stoplight and is a very fast growing area. This listing consist of three parcels.

    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
    -85.169925
    Latitude
    41.209671

    Comparable in this City

    • $1,299,900
      6.57 Acres

      Fort Wayne Commercial Land Opportunity

      6.57 acres of land with commercial potential.
      13615 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      3 SF

      Fort Wayne Commercial Land Opportunity

      3.0± acres of C3-zoned commercial land in Fort Wayne.
      3916 Goshen Rd, Fort Wayne, IN 46818
      View Details
    • $3,400,000
      Pending

      Prime Corner Lot for Development

      Corner lot ideal for commercial or retail development in Fort Wayne.
      13525 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing

      Commercial Land Near I-69

      Commercial land with potential, conveniently located near I-69.
      5820 Huguenard Rd, Fort Wayne, IN 46818
      View Details
    • $1,499,000
      3.00 Acres

      Fort Wayne Commercial Land Opportunity

      3.0± acre commercial land for sale in Fort Wayne.
      3916 Goshen Rd, Fort Wayne, IN 46818
      View Details
    • $1,230,999
      2.21 Acres

      Prime Development Opportunity Near Stadium

      Expansive commercial land parcel near Fort Wayne FC Park.
      6715 Bass Rd, Fort Wayne, IN 46818
      View Details

    Similar Nearby for Sale

    • $499,900
      2.05 Acres

      Commercial Land on Major Corridor

      2.05 acre commercial land with high traffic frontage.
      3878-3912 W Washington Center Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing

      Prime Commercial Land on Lima

      0.8 acre commercial land with high visibility and accessibility.
      9000 Lima Rd, Fort Wayne, IN 46818
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      Commercial Land Near I-69

      Commercial land with potential, conveniently located near I-69.
      5820 Huguenard Rd, Fort Wayne, IN 46818
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      Retail Parcel Near Lima Road

      Large retail parcel with high traffic and commercial growth.
      9805 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing

      Retail Parcel on Lima Road

      Large retail parcel with high traffic and commercial growth.
      9805 Lima Rd, Fort Wayne, IN 46818
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      4.74 Acre Commercial Land Parcel

      Commercial land with excellent visibility and easy highway access.
      3915 W California Rd, Fort Wayne, IN 46818
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    Similar Nearby for Lease

    • Contact for pricing

      Industrial Land Leaseback Opportunity

      19.33 acres in Metro Business Park for lease.
      Metro Park Dr North, 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
      View Details
    • Contact for pricing

      Fort Wayne Industrial Spaces Available

      Industrial spaces available for lease in Fort Wayne, Indiana.
      3911 Merchant Rd, Fort Wayne, IN 46818
      View Details
    • 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
    • Contact for pricing

      High-Visibility Retail Space Available

      Prime retail location with excellent signage and traffic exposure.
      5820 Challenger Pkwy, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      20,936 SF

      Retail Space in Lima Marketplace

      Retail space available in a busy Fort Wayne shopping center.
      10001-10035 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.

    More about this property
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    13500 Lima Rd, Fort Wayne, IN, 46818
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