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    Property profile & analytics

    1919 Cook Rd Fort Wayne, IN 46818

    • Office Properties & Spaces
    • 248,016 SF
    • 50.67 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Last Sale
    May 14, 2024
    $5,500,000
    Value Estimations
    $5,500,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0866235
    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

    • Parkview Education Center / Medical Clinic
    • Tim Hortons / Cafe & Coffee Shop
    • Harris corp ft wayne indianna / Corporate Office
    • L3Harris / Corporate Office
    • Harris\Parkview Health Center / Corporate Office / Factory

    Property Details for 1919 Cook Rd

    Year built
    1987
    Construction
    TYPE NOT SPECIFIED
    Lot size
    50.67 lot acres
    Property size
    248,016 SF
    Property type
    Office Properties & Spaces
    APN
    02-07-15-126-017.000-073
    APU
    20715126017000073

    Description

    This exceptional Class A office property, totaling 120,000 square feet, presents a unique leasing opportunity in a high-growth area of Fort Wayne, Indiana. Located at 1919 W Cook Rd, this three-building complex boasts 1,000 parking spaces and sits on a generous 52.53-acre lot. Built in 1987, the two-story buildings offer flexible space, divisible into units as small as 25,000 square feet, with a maximum contiguous space of 120,000 square feet. Currently, the entire 120,000 square feet is available for lease. The property is zoned C1, allowing for a variety of uses, including executive, medical, and traditional office spaces, as well as research and development, and even light manufacturing and distribution (subject to zoning approval). Its strategic location along Lima Road, a major retail corridor with high traffic volume (over 37,900 cars daily), provides excellent visibility and accessibility. Nearby retail anchors include Lowe's, Home Depot, Costco, Meijer, and more. The property benefits from its position in one of Fort Wayne's fastest-growing areas, exceeding both national and state average projected growth within a 5-mile radius over the next 5 years. The lease rate is $20.00 per square foot (modified gross). Elevators are available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,500,000
      ML approach
      $5,500,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1663
    Latitude
    41.1441
    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
    $263,170
    $3,482,100
    $6,497,100
    $9,979,200
    -
    $3,482,100
    $6,497,100
    $9,979,200

    Comparable in this City

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      2650 Hathaway Rd

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      7211 Carrington Blvd

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      13,500 SF

      6222 Bass Rd

      OFFICE (GENERAL) • 13,500 SF
      6222 Bass Rd, Fort Wayne, IN 46818-9603
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    • Value Estimation
      $2,910,000
      43,800 SF

      7117 Venture Ln

      OFFICE (GENERAL) • 43,800 SF
      7117 Venture Ln, Fort Wayne, IN 46818-8805
      View Details
    • Value Estimation
      $1,465,000
      11,643 SF

      2455 Till Rd

      OFFICE (GENERAL) • 11,643 SF
      2455 Till Rd, Fort Wayne, IN 46818-9561
      View Details
    • Value Estimation by Request
      7,992 SF

      2014 Wallen Rd

      OFFICE (GENERAL) • 7,992 SF
      2014 Wallen Rd, Fort Wayne, IN 46818-1025
      View Details

    Similar Nearby for Sale

    • $760,000
      2,228 SF

      Established Auto Shop on Lima Rd

      Fort Wayne Auto Repair Business - High Traffic!
      7709 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $983,000
      3.59 Acres

      Prime Allen County Land

      $983K, 3.59 Acres, High Traffic
      9931 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $2,963,822
      11.43 Acres

      Lima Road Commercial Land Opportunity

      Prime corner lot, high traffic, three parcels.
      13525 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $475,000
      1.72 Acres

      Prime Fort Wayne Land - 1.72 Acres

      Commercial/Residential potential, near I-69.
      5820 Huguenard Rd, Fort Wayne, IN 46818
      View Details
    • $89,500
      0.50 Acres

      Residential Land in Fort Wayne

      Land available for building a Windsor Home in Valdosta.
      1478 Paradise Cay Ct, Fort Wayne, IN 46818
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    • $85,900
      0.22 Acres

      Residential Land in Fort Wayne

      Residential land near Carroll High School with easy access.
      5494 Broad Fld Cv, Fort Wayne, IN 46818
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    Similar Nearby for Lease

    • $20 SF/Yr
      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
    • $15 SF/Yr
      280,526 SF

      Fort Wayne Office Space Available

      Executive & Creative Office Suites, 5,200-49,500 SF
      5001 Us Highway 30, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      1,500 SF

      Lima Road Retail/Office Space

      Retail or office space available on Lima Road.
      9121 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $16 SF/Yr
      7,133 SF

      Siena Office Park: Medical Office Space

      Modern Medical Office Building, Fort Wayne, IN
      9600 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      3,500 SF

      Turnkey Office Space in Fort Wayne

      Furnished office space with flexible layout and security system.
      7114 Innovation Blvd, Fort Wayne, IN 46818
      View Details
    • 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
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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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