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    1734 Washington Ctr Rd Fort Wayne, IN 46818-1418
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    Property profile & analytics

    1734 Washington Ctr Rd, Fort Wayne, IN 46818-1418

    View on Map
    • Hotels
    • 46,716 SF
    • 2.61 lot acres
    Off-Market
    Property ID
    US31-0044837
    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
    $725,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Quality Inn / Hotel & Motel

    Property Details for 1734 Washington Ctr Rd

    Year built
    1982
    Construction
    WOOD
    Lot size
    2.61 lot acres
    Property type
    Hotels
    Property subtype
    Motels
    APN
    02-07-15-452-011.000-073
    APU
    20715452011000073

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 17, 2018 $2,925,000 Sara Hotels LLC Umapati INC Correction Deed · related $3.2M · First Bank
    Aug 29, 2007 — Umapati INC Jer/jameson Properties LLC Warranty Deed $1.5M · Unity Bank
    Aug 9, 2006 — Jer/jameson Properties LLC Jameson Inns INC Warranty Deed $175M · Wachovia Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $610,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $840,000
      Market price range: $638k - $5.47M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1619
    Latitude
    41.1333
    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
    $20,992
    $597,900
    $178,700
    $776,600
    -
    $597,900
    $178,700
    $776,600

    Comparable in this City

    • Value Estimation by Request
      4,510 SF

      2320 Washington Ctr Rd

      HOTEL/MOTEL
      2320 Washington Ctr Rd, Fort Wayne, IN 46818-1406
      View Details
    • Value Estimation by Request
      2,912 SF

      4527 Craftsbury Cir, Unit 4698

      HOTEL/MOTEL
      4527 Craftsbury Cir, Fort Wayne, IN 46818-2047
      View Details
    • Value Estimation
      $775,000
      53,303 SF

      5702 Challenger Pkwy

      HOTEL/MOTEL
      5702 Challenger Pkwy, Fort Wayne, IN 46818-1712
      View Details
    • Value Estimation
      $765,000
      37,914 SF

      5950 Cross Crk Blvd

      HOTEL/MOTEL
      5950 Cross Crk Blvd, Fort Wayne, IN 46818-1726
      View Details
    • Value Estimation
      $745,000
      38,157 SF

      6021 Lima Rd

      HOTEL/MOTEL
      6021 Lima Rd, Fort Wayne, IN 46818-1431
      View Details
    • Value Estimation
      $675,000
      33,100 SF

      5926 Cross Crk Blvd

      HOTEL/MOTEL
      5926 Cross Crk Blvd, Fort Wayne, IN 46818-1726
      View Details

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      Residential land close to Carroll High School with easy access.
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      Residential Land Near Bass Road

      Beautiful tree-lined residential land near amenities in Fort Wayne, IN.
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      Residential Land in Fort Wayne

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    Similar Nearby for Lease

    • 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

      Industrial Land Leaseback Opportunity

      19.33 acres in Metro Business Park for lease.
      Metro Park Dr North, Fort Wayne, IN 46818
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    • Contact for pricing
      6,000 SF

      Turnkey Office Space Near I-69

      Turnkey office space featuring a glass conference room and kitchenette.
      6030 Huguenard Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing

      Office Building in Siena Office Park

      7,133 SF office building for rent in Fort Wayne.
      9600 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      2,475 SF

      Flex Suites Available for Lease

      Two 2,475 SF suites with easy highway access.
      6415-6429 Highview Dr, Fort Wayne, IN 46818
      View Details
    • $8 SF/Yr

      Industrial Space with Truck Dock

      1,800 SF industrial space with office and warehouse components.
      6015 Highview Dr, Fort Wayne, IN 46818
      View Details
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    Fort Wayne, IN 46818-1418
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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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