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    Property profile & analytics

    3217 State Blvd Fort Wayne, IN 46805-4826

    • Retail space
    • 4,690 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Sep 17, 2024
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1253004
    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

    • Imack Barber Lounge / Barber Shop

    Property Details for 3217 State Blvd

    Year built
    1965
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.33 lot acres
    Property size
    4,690 SF
    Property type
    Retail space
    APN
    02-08-32-154-018.000-072
    APU
    20832154018000072

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $278,000
      Market price range: $154k - $788k
      AI Estimate
      $180,000
      Market price range: $149k - $450k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.0978
    Latitude
    41.0977
    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
    $4,026
    $58,300
    $94,100
    $152,400
    -
    $58,300
    $94,100
    $152,400

    Comparable in this City

    • Value Estimation by Request
      254,264 SF

      4122 Lima Rd

      Neighborhood centers • 254,264 SF
      4122 Lima Rd, Fort Wayne, IN 46805
      View Details
    • Value Estimation
      $275,000
      2,222 SF

      3530 Clinton St

      RETAIL STORES (PERSONAL SERVICES) • 2,222 SF
      3530 Clinton St, Fort Wayne, IN 46805-1860
      View Details
    • Value Estimation
      $705,000
      16,889 SF

      2410 Coliseum Blvd

      RETAIL STORES (PERSONAL SERVICES) • 16,889 SF
      2410 Coliseum Blvd, Fort Wayne, IN 46805-3110
      View Details
    • Value Estimation
      $1,085,000
      153,893 SF

      237 Coliseum Blvd, Unit 309

      RETAIL STORES (PERSONAL SERVICES) • 153,893 SF
      237 Coliseum Blvd, Fort Wayne, IN 46805-1002
      View Details
    • Value Estimation
      $250,000
      0.08 Acres

      3920 Clinton St

      RETAIL STORES (PERSONAL SERVICES) • 0.08 Acres
      3920 Clinton St, Fort Wayne, IN 46805-1206
      View Details
    • Value Estimation
      $435,000
      6,033 SF

      3606 State Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,033 SF
      3606 State Blvd, Fort Wayne, IN 46805-4943
      View Details

    Similar Nearby for Sale

    • $3,724,380
      169,448 SF

      Fort Wayne Industrial Redevelopment

      Prime location, high-traffic area, redevelopment opportunity.
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    • $1,200,000
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      Fort Wayne Retail Building For Sale

      Fully leased retail building on Coliseum Boulevard in Fort Wayne.
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    • $640,000
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      Northcrest Shopping Center Retail Opportunity

      Former movie theatre in Northcrest Shopping Center available for sale.
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    • $1,375,000
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      Retail Property Near Glenbrook Mall

      Retail property with drive-thru potential near Glenbrook Mall.
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    • $625,000
      3,000 SF

      Remodeled Building with Parking Lot

      3,000 sq ft remodeled building with parking near downtown.
      2332 N Clinton St, Fort Wayne, IN 46805
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    • $625,000
      0.32 Acres

      Remodeled Building in Fort Wayne

      3,000 sq ft remodeled building suitable for retail or office.
      2332 N Clinton St, Fort Wayne, IN 46805
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    Similar Nearby for Lease

    • $13 SF/Yr
      1,229 SF

      Retail Space Near State Crescent

      Retail storefront or salon space with ample parking.
      2324 Crescent Ave, Fort Wayne, IN 46805
      View Details
    • Contact for pricing
      254,264 SF

      Glenbrook Commons Retail Space

      Fort Wayne retail space near Glenbrook Square.
      4122 Lima Rd, Fort Wayne, IN 46805
      View Details
    • Contact for pricing
      10,274 SF

      Retail Space in Glenbrook Commons

      High-traffic retail space in a shopping center near Glenbrook Mall.
      4020 Lima Rd, Fort Wayne, IN 46805
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    • $1,250,000
      6,138 SF

      High-Visibility Retail Space Available

      Adaptable retail space with high traffic exposure.
      3010 W 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
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    3217 State Blvd
    Fort Wayne, IN 46805-4826
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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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