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

    3505 Brooklyn Ave Fort Wayne, IN 46809-1308

    • Commercial real estate
    • 11,172 SF
    • 1.13 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0848830
    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

    • Brookelyn Motors / Car Dealership
    • Family Traditions / Auto Repair Shop

    Property Details for 3505 Brooklyn Ave

    Year built
    1965
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.13 lot acres
    Property size
    11,172 SF
    Property type
    Commercial real estate
    APN
    02-12-15-327-001.000-074
    APU
    21215327001000074

    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
    -85.164
    Latitude
    41.0528
    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
    $5,456
    $73,800
    $109,600
    $183,400
    -
    $73,800
    $109,600
    $183,400

    Comparable in this City

    • Value Estimation by Request
      0.05 Acres

      6817 Old Trl Rd

      SHOW ROOM, WAREHOUSE • 0.05 Acres
      6817 Old Trl Rd, Fort Wayne, IN 46809-2709
      View Details
    • Value Estimation by Request
      1.00 Acres

      6500 Blk Ideal Ave

      COMMERCIAL (GENERAL) • 1.00 Acres
      6500 Blk Ideal Ave, Fort Wayne, IN 46809
      View Details
    • Value Estimation
      $2,385,000
      16,604 SF

      9138 Bluffton Rd

      COMMERCIAL (GENERAL) • 16,604 SF
      9138 Bluffton Rd, Fort Wayne, IN 46809-3057
      View Details
    • Value Estimation by Request
      240 SF

      6600 Blk Ideal Ave

      SHOW ROOM, WAREHOUSE • 240 SF
      6600 Blk Ideal Ave, Fort Wayne, IN 46809
      View Details
    • Value Estimation by Request
      1,611 SF

      9823 Ardmore Ave

      COMMERCIAL (GENERAL) • 1,611 SF
      9823 Ardmore Ave, Fort Wayne, IN 46809-9626
      View Details
    • Value Estimation by Request
      4,320 SF

      6333 Ardmore Ave

      SHOW ROOM, WAREHOUSE • 4,320 SF
      6333 Ardmore Ave, Fort Wayne, IN 46809-9503
      View Details

    Similar Nearby for Sale

    • $935,000
      6.60 Acres

      Fort Wayne Industrial Land - 6.6 Acres

      6.6-acre industrial land, shovel-ready lots.
      0 Majic Port Ln, Fort Wayne, IN 46809
      View Details
    • $400,000
      2.25 Acres

      3231 Engle Rd

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

      Prime Fort Wayne Commercial Land

      37 Acres, I-69 Access, Development Ready
      3521 Lower Huntington Rd, Fort Wayne, IN 46809
      View Details
    • $142,702
      3.64 Acres

      Prime Fort Wayne Industrial Land

      3.64 Acres, I2 Zoning, $142,702
      9390 Yeager Dr, Fort Wayne, IN 46809
      View Details
    • $489,900
      0.28 Acres

      Iconic Restaurant Opportunity in Fort Wayne

      Turnkey restaurant for sale with real estate included.
      1820 Bluffton Rd, Fort Wayne, IN 46809
      View Details
    • Contact for pricing
      232,780 SF

      Fort Wayne Industrial Buildings For Sale

      Two industrial buildings totaling 232,780 SF near Fort Wayne Airport.
      9501 Airport Dr, Fort Wayne, IN 46809
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      232,780 SF

      Airport Drive Industrial Complex

      Two Warehouses, Abundant Space Available
      9501 Airport Dr, Fort Wayne, IN 46809
      View Details
    • $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
    • $7,000,000
      120,040 SF

      Versatile Industrial Facility in Fort Wayne

      120,040 SF industrial building with expansion potential.
      2425 American Way, Fort Wayne, IN 46809
      View Details
    • $13,000,000
      150,000 SF

      Fort Wayne Warehouse Ready

      Warehouse in Fort Wayne's Airport Business Center for lease.
      8645 Aviation Dr, Fort Wayne, IN 46809
      View Details
    • $6 SF/Yr
      7,992 SF

      Office Space Near Engle Road

      Office space for lease near Engle Rd. and Ardmore Ave.
      4423 Ardmore Ave, 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
    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.
    3505 Brooklyn Ave
    Fort Wayne, IN 46809-1308
    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.