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

    1704 Cass St Fort Wayne, IN 46808-3296

    • Warehouses
    • 9,152 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Feb 19, 2025
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0339400
    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

    • Unique Delivery Services / Trucking Company

    Property Details for 1704 Cass St

    Year built
    1970
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.44 lot acres
    Property size
    9,152 SF
    Property type
    Warehouses
    APN
    02-07-35-381-007.000-074
    APU
    20735381007000074

    Description

    This exceptional 9,152-square-foot industrial warehouse, located at 1704 Cass St in Fort Wayne, Indiana's Northwest submarket, presents a compelling investment or leasing opportunity. Built in 1970, the property sits on a 0.55-acre lot and is zoned I2 General Industrial, allowing for a wide range of uses. The building features a desirable clear-span layout, enhancing operational efficiency. Loading and unloading are facilitated by three convenient truck docks and two grade-level doors. High ceilings, ranging from 18 to 20 feet, provide ample vertical space for storage or specialized equipment. The property is offered for sale at $515,000, translating to $56.27 per square foot. Alternatively, it is available for lease at a competitive net-net-net (NNN) rate of $5.50 per square foot annually. The Allen County location and flexible zoning make this a highly attractive option for businesses seeking a well-maintained and strategically located industrial space. The property's parcel numbers are 02-07-35-382-007.000-074 and 02-07-35-381-006.000-074. This single-tenant property offers a rare combination of functionality, location, and pricing, making it an ideal choice for a variety of industrial operations. Don't miss this chance to acquire or lease a prime industrial asset in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $287,000
      Market price range: $288k - $802k
      AI Estimate
      $161,000
      Market price range: $161k - $337k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1442
    Latitude
    41.0907
    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
    $2,896
    $14,500
    $92,900
    $107,400
    -
    $14,500
    $92,900
    $107,400

    Comparable in this City

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      $950,000
      100,000 SF

      3625 Independence Dr

      WAREHOUSE, STORAGE • 100,000 SF
      3625 Independence Dr, Fort Wayne, IN 46808-4504
      View Details
    • Value Estimation
      $260,000
      600 SF

      615 State Blvd

      STORAGE YARD, OPEN STORAGE • 600 SF
      615 State Blvd, Fort Wayne, IN 46808-3140
      View Details
    • Value Estimation
      $660,000
      19,567 SF

      3830 Concept Ct

      WAREHOUSE, STORAGE • 19,567 SF
      3830 Concept Ct, Fort Wayne, IN 46808-1489
      View Details
    • Value Estimation
      $980,000
      129,600 SF

      3616 Independence Dr

      WAREHOUSE, STORAGE • 129,600 SF
      3616 Independence Dr, Fort Wayne, IN 46808
      View Details
    • Value Estimation by Request
      7,000 SF

      3131 Wls St

      STORAGE YARD, OPEN STORAGE • 7,000 SF
      3131 Wls St, Fort Wayne, IN 46808-1565
      View Details
    • Value Estimation
      $315,000
      4,200 SF

      1617 Production Rd

      WAREHOUSE, STORAGE • 4,200 SF
      1617 Production Rd, Fort Wayne, IN 46808-1102
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $9 SF/Yr
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      Air-conditioned warehouse/flex space with ample parking and office.
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      View Details
    • $11,340,000
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      Industrial Warehouse with Logistics Access

      I-2 Zoned warehouse with excellent logistics access and visibility.
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      View Details
    • $8 SF/Yr
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      Industrial Building with Open Warehouse

      4,200 SF industrial building for lease near Downtown.
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      View Details
    • $6 SF/Yr
      30,000 SF

      Fort Wayne Warehouse Space Available

      7,500 SF Warehouse, Office Space
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      View Details
    • $7 SF/Yr
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      3819 Superior Ridge Dr

      Distribution properties • 15,793 SF
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    • $7 SF/Yr
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      Wells Street Warehouse Opportunity

      Historic Fort Wayne Warehouse, 4,960 SF
      1441 Wells St, Fort Wayne, IN 46808
      View Details
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    Fort Wayne, IN 46808-3296
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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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