Sign Up Successful!
You now have access to more from Realmo!
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

    233 Airport N Ofc Park Fort Wayne, IN 46825-6702

    • Office Properties & Spaces
    • 1,984 SF
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Jun 01, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1262578
    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

    • Office Properties & Spaces

    Property Details for 233 Airport N Ofc Park

    Year built
    1987
    Construction
    WOOD
    Lot size
    0.37 lot acres
    Property size
    1,984 SF
    Property type
    Office Properties & Spaces
    APN
    02-07-15-203-014.000-073
    APU
    20715203014000073

    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
    -85.1618
    Latitude
    41.1458
    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
    $3,362
    $48,400
    $79,100
    $127,500
    -
    $48,400
    $79,100
    $127,500

    Comparable in this City

    • Value Estimation by Request
      15,945 SF

      379 Washington Center Rd

      Flex space • 15,945 SF
      379 Washington Center Rd, Fort Wayne, IN 46825
      View Details
    • Value Estimation by Request
      5.45 Acres

      Coldwater Rd

      Land • 5.45 Acres
      0 Coldwater Rd, Fort Wayne, IN 46825
      View Details
    • Value Estimation by Request
      1,750 SF

      910 Cook Rd

      OFFICE (GENERAL) • 1,750 SF
      910 Cook Rd, Fort Wayne, IN 46825-3665
      View Details
    • Value Estimation by Request
      722 SF

      10339 Dawsons Crk Blvd Ste B

      OFFICE (GENERAL) • 722 SF
      10339 Dawsons Crk Blvd Ste B, Fort Wayne, IN 46825-1907
      View Details
    • Value Estimation
      $1,270,000
      8,359 SF

      2801 Dupont Rd

      OFFICE (GENERAL) • 8,359 SF
      2801 Dupont Rd, Fort Wayne, IN 46825-1668
      View Details
    • Value Estimation
      $1,055,000
      6,936 SF

      10315 Dupont Cir W Dr

      OFFICE (GENERAL) • 6,936 SF
      10315 Dupont Cir W Dr, Fort Wayne, IN 46825-1607
      View Details

    Similar Nearby for Sale

    • $680,000
      5.45 Acres

      Coldwater Road Development Land

      5.45 Acres, High-Traffic Location
      0 Coldwater Rd, Fort Wayne, IN 46825
      View Details
    • $475,000
      1.41 Acres

      Coldwater Rd Commercial Land

      1.41 Acres, High-Traffic Location
      5526 Coldwater Rd, Fort Wayne, IN 46825
      View Details
    • $650,000
      4,067 SF

      Medical Office Space For Sale

      Medical office space in NW medical corridor, up to 4,067 SF.
      10020 Dupont Circle Ct, Fort Wayne, IN 46825
      View Details
    • Contact for pricing
      2,400 SF

      Stoney Creek Office Park Condo

      Two-level office condo with five offices, conference rooms, and kitchen.
      6017 Stoney Creek Dr, Fort Wayne, IN 46825
      View Details
    • Contact for pricing
      59,792 SF

      Class A Medical Office Building

      Medical office building on Dupont Hospital campus with skywalk access.
      2512 E Dupont Rd, Fort Wayne, IN 46825
      View Details
    • $425,000
      4,960 SF

      Wells Street Warehouse/Office Space

      Historic building with warehouse and office space for sale.
      1441 North Wells Street Ext, Fort Wayne, IN 46825
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      58,220 SF

      Prime Fort Wayne Executive Suites

      Class A Office Space, 8,754 SF Available
      2720 Dupont Commerce Ct, Fort Wayne, IN 46825
      View Details
    • $19 SF/Yr
      67,247 SF

      Dupont Office Center III: Fort Wayne

      Class A Office Space, I-69 Visibility
      9910 Dupont Circle Dr, Fort Wayne, IN 46825
      View Details
    • $12 SF/Yr
      10,162 SF

      Stoney Creek Office Condos For Sale

      Fort Wayne Office Space, Two Units Available
      205 Washington Center Rd, Fort Wayne, IN 46825
      View Details
    • $15 SF/Yr
      11,481 SF

      Fort Wayne Office Sublease Opportunity

      Modern Office Space, Flexible Lease Terms
      8310 Clinton Park Dr, Fort Wayne, IN 46825
      View Details
    • 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
      View Details
    • $5 SF/Yr
      15,221 SF

      Smith Field Flex Space Available

      Fort Wayne industrial space for lease.
      7616 Disalle Blvd, Fort Wayne, IN 46825
      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.
    233 Airport N Ofc Park
    Fort Wayne, IN 46825-6702
    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.