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

    3420 State Blvd Fort Wayne, IN 46805-5605

    • Assisted living facilities
    • 40,207 SF
    • 1.80 lot acres
    OFF-MARKET
    Value Estimations
    $655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0630042
    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

    • Jenniter L. Thomas, PTA / Physical Therapist / Physical Therapy Clinic
    • Gina M. Copelenad, PTA / Physical Therapist / Physical Therapy Clinic
    • Ryan Myers, PTA / Physical Therapist / Physical Therapy Clinic
    • Amber E. Bell, Cota / Physical Therapist / Occupational Therapist
    • Celebrate Senior Living of Fort Wayne / Assisted Living Facility / Nursing Home

    Property Details for 3420 State Blvd

    Year built
    1975
    Construction
    WOOD
    Lot size
    1.80 lot acres
    Property size
    40,207 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    02-08-32-302-002.000-072
    APU
    20832302002000072

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $720,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $588,000
      Market price range: $383k - $979k

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $670,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,130,000
      Change: +68% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.0959
    Latitude
    41.0967
    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
    $64,378
    $108,000
    $2,344,300
    $2,452,300
    -
    $108,000
    $2,344,300
    $2,452,300

    Comparable in this City

    • Value Estimation
      $755,000
      29,891 SF

      3811 Parnell Ave

      HOMES (RETIRED, NURSING) • 29,891 SF
      3811 Parnell Ave, Fort Wayne, IN 46805-1409
      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
    • Value Estimation
      $260,000
      3,568 SF

      3320 State Blvd

      HOMES (RETIRED, NURSING) • 3,568 SF
      3320 State Blvd, Fort Wayne, IN 46805-5601
      View Details
    • Value Estimation
      $445,000
      160,355 SF

      1900 Randallia Dr

      HOMES (RETIRED, NURSING) • 160,355 SF
      1900 Randallia Dr, Fort Wayne, IN 46805-4632
      View Details

    Similar Nearby for Sale

    • $1,350,000
      9,500 SF

      Fort Wayne Adult Club Business

      Thriving Adult Club, Prime Location
      1002 Coliseum Blvd, Fort Wayne, IN 46805
      View Details
    • $640,000
      24,446 SF

      Northcrest Shopping Center Retail Opportunity

      Former movie theatre in Northcrest Shopping Center available for sale.
      931 Northcrest Shopping Ctr, Fort Wayne, IN 46805
      View Details
    • $1,749,000
      42,817 SF

      Industrial Property in Fort Wayne

      42,817 SF industrial property with flexible floor plan.
      137 Chambeau Rd, Fort Wayne, IN 46805
      View Details
    • $150,000
      0.90 Acres

      Coliseum Blvd Frontage Land Available

      0.9 acre commercial land with frontage on Coliseum Blvd.
      1727 N Coliseum Blvd, Fort Wayne, IN 46805
      View Details
    • $235,000
      Pending

      Adaptable Office on East State

      Commercial property with flexible space in a high-traffic location.
      3409 E State Blvd, Fort Wayne, IN 46805
      View Details
    • $199,000
      0.28 Acres

      Prime Commercial Land, Fort Wayne

      0.276 Acres, High Visibility, C-3 Zoning
      545 State Blvd, 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
    • $12 SF/Yr
      770 SF

      Office Space on Lake Avenue

      Office space for rent with excellent visibility and convenient location.
      3401 Lake Ave, Fort Wayne, IN 46805
      View Details
    • $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
    • $12 SF/Yr
      575 SF

      Lake Avenue Executive Office Suite

      Downtown-adjacent office space, 575 sq ft available.
      2250 Lake Ave, Fort Wayne, IN 46805
      View Details
    • $4 SF/Yr
      89,080 SF

      Office/Flex Space For Rent

      Office and flex space with high visibility and easy access.
      909-929 N Coliseum Blvd, Fort Wayne, IN 46805
      View Details
    • Contact for pricing
      7,930 SF

      Former Medical Office Space Available

      7,930 SF medical office for lease on 1.33 acres.
      3909 Lake Ave, 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.
    3420 State Blvd
    Fort Wayne, IN 46805-5605
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.