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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1400 Medical Park Dr Fort Wayne, IN 46825-5832

    • Assisted living facilities
    • 30,244 SF
    • 3.29 lot acres
    OFF-MARKET
    Last Sale
    Nov 09, 2020
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0293798
    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

    • Aperion Care University Park / Nursing Home
    • University Park Rehabilitation and Healthcare Center / Nursing Home

    Property Details for 1400 Medical Park Dr

    Year built
    1973
    Construction
    WOOD
    Lot size
    3.29 lot acres
    Property size
    30,244 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    02-07-24-404-007.000-073
    APU
    20724404007000073

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $735,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $495,000
      Market price range: $288k - $736k

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $505,000
      Current use
      INDUSTRIAL (GENERAL)
      $925,000
      Change: +83% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1222
    Latitude
    41.1235
    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
    $47,178
    $286,600
    $1,777,000
    $2,063,600
    -
    $286,600
    $1,777,000
    $2,063,600

    Comparable in this City

    • Value Estimation
      $810,000
      77,459 SF

      1010 Washington Ctr Rd

      HOMES (RETIRED, NURSING) • 77,459 SF
      1010 Washington Ctr Rd, Fort Wayne, IN 46825-4155
      View Details
    • Value Estimation by Request
      972 SF

      1810 Dupont Rd

      HOMES (RETIRED, NURSING) • 972 SF
      1810 Dupont Rd, Fort Wayne, IN 46825-1581
      View Details
    • Value Estimation
      $605,000
      61,253 SF

      9848 Coldwater Rd

      HOMES (RETIRED, NURSING) • 61,253 SF
      9848 Coldwater Rd, Fort Wayne, IN 46825-2036
      View Details
    • Value Estimation by Request
      20,919 SF

      1716 Dupont Rd

      HOMES (RETIRED, NURSING) • 20,919 SF
      1716 Dupont Rd, Fort Wayne, IN 46825-1580
      View Details
    • Value Estimation
      $995,000
      24,709 SF

      10021 Dupont Cir Ct

      MEDICAL BUILDING • 24,709 SF
      10021 Dupont Cir Ct, Fort Wayne, IN 46825-1604
      View Details
    • Value Estimation
      $535,000
      8,393 SF

      9970 Dupont Cir E Dr

      MEDICAL BUILDING • 8,393 SF
      9970 Dupont Cir E Dr, Fort Wayne, IN 46825-1612
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      59,792 SF

      Class A Medical Office Building

      Medical office building on Dupont Hospital campus with skywalk access.
      2512 E Dupont Rd, Fort Wayne, IN 46825
      View Details
    • $3,250,000
      9.06 Acres

      Coldwater Road Commercial Land

      9 Acres, C1 Zoned, High Visibility
      6901 Coldwater Rd, Fort Wayne, IN 46825
      View Details
    • $525,000
      0.87 Acres

      Cordova Office Space for Lease

      Seven suites, 3,335 sq ft available
      5215 Coldwater Rd, Fort Wayne, IN 46825
      View Details
    • $678,000
      3.47 Acres

      Prime Fort Wayne Land - 3.46 Acres

      Exceptional vacant land, ideal for development.
      10000 Dawsons Creek Blvd, Fort Wayne, IN 46825
      View Details
    • $165,000
      0.31 Acres

      Commercial Land Near High School

      Commercial land with high traffic near US-3 and Northrup High.
      1524 W Cook Rd, Fort Wayne, IN 46825
      View Details
    • $935,233

      Land For Sale

      Land available in a fast-growing area of Fort Wayne.
      5205 Southern Hills Dr, Fort Wayne, IN 46825
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      21,025 SF

      Prime Fort Wayne Medical Office Space

      Class A medical office suites, 2,000-4,067 SF available.
      10020 Dupont Circle Ct, Fort Wayne, IN 46825
      View Details
    • $21 SF/Yr
      14,465 SF

      Dupont Medical Office

      Medical offices • 14,465 SF
      10228 Dupont Circle Dr, Fort Wayne, IN 46825
      View Details
    • Contact for pricing
      47,525 SF

      Dupont Road Retail Outparcel

      High-traffic ATM space available.
      2868 Dupont Rd, Fort Wayne, IN 46825
      View Details
    • $19 SF/Yr
      67,247 SF

      Dupont Office Center III: Fort Wayne

      Class A Office Space, I-69 Visibility
      9910 Dupont Circle Dr, Fort Wayne, IN 46825
      View Details
    • Contact for pricing
      3,400 SF

      Retail Endcap on Coldwater Road

      3,400 SF retail space available for lease.
      5624-5626 Coldwater Rd, Fort Wayne, IN 46825
      View Details
    • Contact for pricing
      1,316 SF

      Retail Space on Coldwater Road

      Retail property in high-traffic area near Glenbrook Mall.
      4535 Coldwater Rd, Fort Wayne, IN 46825
      View Details
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    Fort Wayne, IN 46825-5832
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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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