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    Property profile & analytics

    1901 Hathaway Rd Fort Wayne, IN 46845

    • Showrooms
    • 2,560 SF
    • 1.81 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-2935630
    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

    • Curb-Tastic Creations / Landscape Designer

    Property Details for 1901 Hathaway Rd

    Year built
    1994
    Construction
    WOOD
    Lot size
    1.81 lot acres
    Property size
    2,560 SF
    Property type
    Showrooms
    APN
    02-02-29-100-001.000-058
    APU
    20229100001000058

    Description

    This exceptional 1.81-acre commercial property, located at 1901 Hathaway Rd, Fort Wayne, IN 46845 (APN: 02-02-29-100-001.000-058), presents a remarkable investment opportunity. Situated on a hard corner at the intersection of Hathaway and Lima Roads, this property boasts unparalleled visibility and accessibility. Built in 1994 and renovated in 2009, the property features a Class B designation and is currently 100% occupied. The permitted zoning is AR, making it ideal for a variety of uses. The property includes ample surface, gravel parking and features grade-level doors measuring 12 ft x 12 ft and 3 ft x 7 ft (four total). Ceiling heights range from 8 to 12 feet. Utilities are on-site, with NIPSCO supplying gas, Huntertown Municipal providing water and sewer, and AEP supplying power (220 volts). This prime location in a rapidly growing area of Fort Wayne offers significant potential for retail development or owner-user occupancy, benefiting from ongoing infrastructure improvements and high demand. The property's strategic position ensures maximum exposure and attracts businesses seeking increased services and amenities. This is a rare opportunity to acquire a high-visibility, versatile property in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $435,000
      6.5%
      $405,000
      7%
      $375,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $190,000
      Current use
      RETAIL STORES
      $245,000
      Change: +28% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1705
    Latitude
    41.2059
    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
    $1,346
    $56,800
    $22,800
    $79,600
    -
    $56,800
    $22,800
    $79,600

    Comparable in this City

    • Value Estimation
      $350,000
      1,930 SF

      10505 Tonkel Rd

      FINANCIAL BUILDING • 1,930 SF
      10505 Tonkel Rd, Fort Wayne, IN 46845-8513
      View Details
    • Value Estimation by Request
      2,760 SF

      12635 Coldwater Rd

      CONVENIENCE STORE • 2,760 SF
      12635 Coldwater Rd, Fort Wayne, IN 46845-9792
      View Details
    • Value Estimation
      $520,000
      12,911 SF

      1703 Carroll Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,911 SF
      1703 Carroll Rd, Fort Wayne, IN 46845-9372
      View Details
    • Value Estimation
      $485,000
      5,970 SF

      10601 Tonkel Rd

      FINANCIAL BUILDING • 5,970 SF
      10601 Tonkel Rd, Fort Wayne, IN 46845-8512
      View Details
    • Value Estimation
      $465,000
      9,624 SF

      12628 Coldwater Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,624 SF
      12628 Coldwater Rd, Fort Wayne, IN 46845-9792
      View Details
    • Value Estimation
      $485,000
      16,492 SF

      10812 Coldwater Rd

      RETAIL STORES (PERSONAL SERVICES) • 16,492 SF
      10812 Coldwater Rd, Fort Wayne, IN 46845-1200
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.81 Acres

      Fort Wayne Commercial Land

      High-visibility corner lot, prime location.
      1901 Hathaway Rd, Fort Wayne, IN 46845
      View Details
    • $400,000

      Coldwater Road Commercial Land

      Fort Wayne retail land, high traffic.
      12309 Coldwater Rd, Fort Wayne, IN 46845
      View Details
    • $1,500,000
      2.00 Acres

      Dupont Commons: Prime Commercial Land

      2-Acre C3 Zoned Site, High Traffic Area
      10633 Dupont Oaks Blvd, Fort Wayne, IN 46845
      View Details
    • $658,000
      3.00 Acres

      Fort Wayne Commercial Land - $658,000

      3-Acre Commercial Development Site
      4421 Norarrow Dr, Fort Wayne, IN 46845
      View Details
    • $425,000
      0.73 Acres

      Prime Commercial Land, Fort Wayne

      0.73 Acres, High-Traffic Location
      11000 Lima Rd, Fort Wayne, IN 46845
      View Details
    • $869,500
      4.00 Acres

      Fort Wayne Commercial Land - $869,500

      Prime Commercial Development, High-Growth Area
      4121 Norarrow Dr, Fort Wayne, IN 46845
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Development in High-Growth Area

      New retail development with high visibility in growing Huntertown area.
      1955 Copper Mine Psge, Fort Wayne, IN 46845
      View Details
    • $15 SF/Yr

      Watersong Office Park Space

      Office space for lease in Watersong Office Park.
      12820-C Coldwater Rd, Fort Wayne, IN 46845
      View Details
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    1901 Hathaway Rd
    Fort Wayne, IN 46845
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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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