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    Property profile & analytics

    205 Washington Center Rd Fort Wayne, IN 46825

    • Office Properties & Spaces
    • 1,520 SF
    • 0.21 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Jul 24, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0381200
    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

    • Wise Choices, Inc. / Counselor / Mental Health Service

    Property Details for 205 Washington Center Rd

    Year built
    1981
    Construction
    WOOD
    Lot size
    0.21 lot acres
    Property size
    1,520 SF
    Property type
    Office Properties & Spaces
    APN
    02-07-14-477-009.000-073
    APU
    20714477009000073

    Description

    This exceptional investment opportunity presents two available office condo spaces within the Stoney Creek Office Condos complex, located at 205 E Washington Center Rd, Fort Wayne, IN 46825. The property boasts a total of 10,162 square feet across a single, two-story building situated on 0.21 acres of land. Built in 1981, the building is zoned C-2 and offers multiple tenancies. The available spaces range in size from 1,693 square feet to 7,209 square feet, providing flexibility for various business needs. This prime location on Fort Wayne's northwest side offers excellent visibility and accessibility, situated on the busy Washington Center Road near the Coldwater Road intersection. The abundance of natural light creates a bright and welcoming work environment. The property's traditional office layout is ideal for a range of professional businesses. Allen County location provides easy access to local amenities and transportation routes. This is a rare opportunity to acquire established office space in a desirable Fort Wayne location. The property's size and layout offer significant potential for growth and expansion. Serious inquiries are encouraged to explore this promising investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1387
    Latitude
    41.1332
    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
    $2,579
    $36,000
    $61,800
    $97,800
    -
    $36,000
    $61,800
    $97,800

    Comparable in this City

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      $2,100,000
      22,612 SF

      7401 Coldwater Rd, Unit 7437

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      7401 Coldwater Rd, Fort Wayne, IN 46825-3401
      View Details
    • Value Estimation
      $1,610,000
      10,580 SF

      2008 Dupont Rd

      OFFICE (GENERAL) • 10,580 SF
      2008 Dupont Rd, Fort Wayne, IN 46825-1583
      View Details
    • Value Estimation by Request
      717 SF

      10355 Dawsons Crk Blvd Ste D

      OFFICE (GENERAL) • 717 SF
      10355 Dawsons Crk Blvd Ste D, Fort Wayne, IN 46825-1903
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    • Value Estimation by Request
      1,544 SF

      5015 Riviera Ct

      OFFICE (GENERAL) • 1,544 SF
      5015 Riviera Ct, Fort Wayne, IN 46825-5805
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    • Value Estimation
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      19,600 SF

      111 Ludwig Rd

      OFFICE (GENERAL) • 19,600 SF
      111 Ludwig Rd, Fort Wayne, IN 46825-4240
      View Details
    • Value Estimation by Request
      1,305 SF

      9231 Jenna Ln

      OFFICE (GENERAL) • 1,305 SF
      9231 Jenna Ln, Fort Wayne, IN 46825-7067
      View Details

    Similar Nearby for Sale

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      1.41 Acres, High-Traffic Location
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    Similar Nearby for Lease

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    • Contact for pricing
      15,945 SF

      Fort Wayne Flex Space Available

      Modern flex space, high visibility, I-69 access
      379 Washington Center Rd, Fort Wayne, IN 46825
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    • $20 SF/Yr
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      Prime Fort Wayne Executive Suites

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      Smith Field Flex Space Available

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    • $12 SF/Yr
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      Stoney Creek Office Condos For Sale

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      205 Washington Center Rd, Fort Wayne, IN 46825
      View Details
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    205 Washington Center Rd
    Fort Wayne, IN 46825
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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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