Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2001 Hobson Rd Fort Wayne, IN 46805

    • Assisted living facilities
    • 57,557 SF
    • 3.46 lot acres
    For Sale
    View listing
    $349,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0658175
    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

    • Amanda M. Smithson, COTA / Physician
    • Heritage Park / Nursing Home
    • Covington Commons / Nursing Home / Retirement Community
    • Paolo Miguel Dumadag / Physician
    • Rutvik Patel / Physician

    Property Details for 2001 Hobson Rd

    Year built
    1974
    Construction
    WOOD
    Lot size
    3.46 lot acres
    Property size
    57,557 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    02-08-31-428-002.000-072
    APU
    20831428002000072

    Description

    This exceptional 1.87-acre commercial development site, located at 2001 Hobson Road in Fort Wayne, Indiana (zip code 46805), presents a rare opportunity. Priced at $349,000 ($186,631/acre), this vacant land boasts a highly desirable C-2 zoning designation, allowing for a multitude of commercial uses. Situated just south of the recently constructed Dream Plaza gas station, convenience store, and strip center, the property benefits from exceptional visibility and proximity to a thriving retail corridor. The site is strategically positioned near a concentration of restaurants, medical facilities, professional offices, and financial institutions, ensuring high foot traffic and customer accessibility. All utilities are available at the site, and a curb cut is already in place, simplifying the development process. The Allen County property features a Tax ID number of 02-08-31-427-020.000-072 (Portion of Parcel). This is one of the last remaining development sites in this high-demand area, making it an ideal investment for discerning buyers seeking a prime location for their next commercial venture. Don't miss this chance to capitalize on this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $695,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $987,000
      Market price range: $548k - $1.40M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $960,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.0991
    Latitude
    41.0946
    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
    $94,063
    $138,400
    $3,976,000
    $4,114,400
    -
    $138,400
    $3,976,000
    $4,114,400

    Comparable in this City

    • Value Estimation
      $655,000
      40,207 SF

      3420 State Blvd

      HOMES (RETIRED, NURSING) • 40,207 SF
      3420 State Blvd, Fort Wayne, IN 46805-5605
      View Details
    • Value Estimation
      $1,825,000
      125,484 SF

      1661 Beacon St

      HOMES (RETIRED, NURSING) • 125,484 SF
      1661 Beacon St, Fort Wayne, IN 46805-4746
      View Details
    • Value Estimation
      $985,000
      160,355 SF

      1900 Randallia Dr

      HOMES (RETIRED, NURSING) • 160,355 SF
      1900 Randallia Dr, Fort Wayne, IN 46805-4632
      View Details
    • Value Estimation
      $660,000
      42,120 SF

      2940 Clinton St

      HOMES (RETIRED, NURSING) • 42,120 SF
      2940 Clinton St, Fort Wayne, IN 46805-1910
      View Details
    • Value Estimation
      $600,000
      24,804 SF

      3310 State Blvd

      HOMES (RETIRED, NURSING) • 24,804 SF
      3310 State Blvd, Fort Wayne, IN 46805
      View Details
    • Value Estimation
      $760,000
      41,778 SF

      1649 Spy Run Ave

      HOMES (RETIRED, NURSING) • 41,778 SF
      1649 Spy Run Ave, Fort Wayne, IN 46805-4032
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      169,448 SF

      Roller Dome North Redevelopment Opportunity

      Redevelopment opportunity near shopping, retail, and industrial corridors.
      444 Coliseum Blvd West, Fort Wayne, IN 46805
      View Details
    • $4,000,000
      36,533 SF

      Fort Wayne Industrial Investment Opportunity

      36,533 SF building with 5 units, 100% occupancy.
      3427-3425 North Clinton St, Fort Wayne, IN 46805
      View Details
    • Contact for pricing

      Commercial Land on Coldwater Road

      Highly visible commercial land suitable for various business types.
      Coldwater Rd, Fort Wayne, IN 46805
      View Details
    • Contact for pricing

      Highly Visible Commercial Lot

      Commercial lot with high visibility and traffic count.
      545 E State Blvd, Fort Wayne, IN 46805
      View Details
    • $315,000

      Multifamily Property with Rental Income

      8-unit multifamily property with additional room and strong rental income.
      840-842 Columbia Ave, Fort Wayne, IN 46805
      View Details
    • $214,900
      Pending

      Fort Wayne Triplex For Sale

      Fully occupied triplex, great investment opportunity in Fort Wayne.
      2102 California Ave, Fort Wayne, IN 46805
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      37,939 SF

      State Blvd Medical Office Space

      Fort Wayne medical office, 2,611 SF available.
      3123 State Blvd, Fort Wayne, IN 46805
      View Details
    • $7 SF/Yr
      44,172 SF

      Lake Avenue Office Suites

      Fort Wayne executive/creative office space
      3030 Lake Ave, Fort Wayne, IN 46805
      View Details
    • $15 SF/Yr
      60,422 SF

      Fort Wayne Executive Office Sublease

      14,926 SF High-Tech Office Space
      3400 Coliseum Blvd, Fort Wayne, IN 46805
      View Details
    • $8 SF/Yr
      12,077 SF

      2980 Coliseum Blvd

      Office space • 12,077 SF
      2980 Coliseum Blvd, Fort Wayne, IN 46805
      View Details
    • Contact for pricing
      254,112 SF

      Glenbrook Commons Retail Space

      Fort Wayne Shopping Center: Space Available
      4200 Lima Rd, Fort Wayne, IN 46805
      View Details
    • $18 SF/Yr
      8,911 SF

      Statewood Plaza Retail Space

      Fort Wayne retail space, ample parking.
      3905-3931 State Blvd, Fort Wayne, IN 46805
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2001 Hobson Rd
    Fort Wayne, IN 46805
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!