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    Property profile & analytics

    2929 Engle Rd Fort Wayne, IN 46809-1105

    • Office properties & Spaces
    • 79,774 SF
    • 18.36 lot acres
    OFF-MARKET
    Value Estimations
    $6,445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1765492
    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

    • Kekionga Middle School / High School

    Property Details for 2929 Engle Rd

    Year built
    1960
    Construction
    TYPE NOT SPECIFIED
    Lot size
    18.36 lot acres
    Property size
    79,774 SF
    Property type
    Office properties & Spaces
    APN
    02-12-21-202-001.000-074
    APU
    21221202001000074

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,915,000
      Market price range: $2.25M - $10.4M
      AI Estimate
      $6,978,000
      Market price range: $2.22M - $11.4M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,915,000
      Current use
      RETAIL STORES
      $7,565,000
      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
    -85.1766
    Latitude
    41.0438
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $875,000
      10,845 SF

      3933 Winters Rd

      OFFICE (GENERAL) • 10,845 SF
      3933 Winters Rd, Fort Wayne, IN 46809-3129
      View Details
    • Value Estimation by Request
      768 SF

      4011 Mcclure Ct

      OFFICE (GENERAL) • 768 SF
      4011 Mcclure Ct, Fort Wayne, IN 46809-1158
      View Details
    • Value Estimation
      $535,000
      6,637 SF

      4100 Blk Sandpoint Rd

      OFFICE (GENERAL) • 6,637 SF
      4100 Blk Sandpoint Rd, Fort Wayne, IN 46809
      View Details
    • Value Estimation
      $3,485,000
      26,391 SF

      8515 Bluffton Rd

      OFFICE (GENERAL) • 26,391 SF
      8515 Bluffton Rd, Fort Wayne, IN 46809-3022
      View Details
    • Value Estimation
      $3,205,000
      22,326 SF

      8811 Baer Rd

      OFFICE (GENERAL) • 22,326 SF
      8811 Baer Rd, Fort Wayne, IN 46809-9723
      View Details
    • Value Estimation
      $2,615,000
      32,874 SF

      6011 Bluffton Rd

      OFFICE (GENERAL) • 32,874 SF
      6011 Bluffton Rd, Fort Wayne, IN 46809-2256
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

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      Functional office and warehouse space with excellent visibility and access.
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      1,728 SF

      Office Building with Walk-in Vault

      1,728 SF office building with modern amenities and vault.
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    • $400,000
      2.25 Acres

      3231 Engle Rd

      Land • 2.25 Acres
      3231 Engle Rd, Fort Wayne, IN 46809
      View Details
    • Contact for pricing
      30,000 SF

      Fort Wayne Warehouse - 30,000 SF

      Modern Industrial Warehouse, I-69 Access
      9245 Conservation Way, Fort Wayne, IN 46809
      View Details
    • $69,900
      0.57 Acres

      Waynedale Commercial Land Opportunity

      Prime commercial land for redevelopment in Waynedale's business district.
      3325 Lower Huntington Rd, Fort Wayne, IN 46809
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    • $59,995
      0.52 Acres

      Residential Land in Fort Wayne

      Vacant residential lot offers over half an acre of possibilities.
      2600 Blk Timbers Dr, Fort Wayne, IN 46809
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    Similar Nearby for Lease

    • $12,000 /Mo
      1,625 SF

      Fort Wayne Commercial Space

      Versatile Waynedale Office/Retail
      6720 Old Trail Rd, Fort Wayne, IN 46809
      View Details
    • $6 SF/Yr
      232,780 SF

      Airport Drive Industrial Complex

      Two Warehouses, Abundant Space Available
      9501 Airport Dr, Fort Wayne, IN 46809
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    • $2,100 /Mo
      1,625 SF

      Versatile Commercial Space For Rent

      Adaptable commercial space suitable for retail, services, or creative enterprises.
      6720 Old Trail Rd, Fort Wayne, IN 46809
      View Details
    • $7 SF/Yr
      10,800 SF

      Earth Drive Industrial Warehouse

      10,800 SF Warehouse, 6,313 SF Vacant
      4211 Earth Dr, Fort Wayne, IN 46809
      View Details
    • $7 SF/Yr
      30,000 SF

      Fort Wayne Warehouse - 30,000 SF

      Spacious industrial warehouse, ideal for various uses.
      9245 Conservation Way, Fort Wayne, IN 46809
      View Details
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    2929 Engle Rd
    Fort Wayne, IN 46809-1105
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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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