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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3707 Hillegas Rd Fort Wayne, IN 46808-1351

    • Office Properties & Spaces
    • 10,465 SF
    • 21.86 lot acres
    OFF-MARKET
    Last Sale
    Apr 13, 2023
    Value Estimations
    $1,395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0228422
    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

    • WFFT / Television Studio / Media Distribution

    Property Details for 3707 Hillegas Rd

    Year built
    1978
    Construction
    TYPE NOT SPECIFIED
    Lot size
    21.86 lot acres
    Property size
    10,465 SF
    Property type
    Office Properties & Spaces
    APN
    02-07-29-400-004.000-073
    APU
    20729400004000073

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,785,000
      6.5%
      $1,650,000
      7%
      $1,530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,361,000
      Market price range: $295k - $1.36M
      AI Estimate
      $1,171,000
      Market price range: $327k - $1.17M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $995,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.195
    Latitude
    41.1091
    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
    $17,559
    $361,200
    $272,900
    $634,100
    -
    $361,200
    $272,900
    $634,100

    Comparable in this City

    • Value Estimation by Request
      4,000 SF

      921 Coliseum Blvd

      OFFICE (GENERAL) • 4,000 SF
      921 Coliseum Blvd, Fort Wayne, IN 46808-1221
      View Details
    • Value Estimation by Request
      3,828 SF

      1424 Leesburg Rd

      OFFICE (GENERAL) • 3,828 SF
      1424 Leesburg Rd, Fort Wayne, IN 46808-2534
      View Details
    • Value Estimation
      $1,650,000
      12,398 SF

      2000 Wls St

      OFFICE (GENERAL) • 12,398 SF
      2000 Wls St, Fort Wayne, IN 46808-2495
      View Details
    • Value Estimation
      $705,000
      20,000 SF

      1415 Directors Row

      OFFICE (GENERAL) • 20,000 SF
      1415 Directors Row, Fort Wayne, IN 46808-1275
      View Details
    • Value Estimation by Request
      2,776 SF

      1341 Goshen Ave

      OFFICE (GENERAL) • 2,776 SF
      1341 Goshen Ave, Fort Wayne, IN 46808-2033
      View Details
    • Value Estimation
      $1,575,000
      46,078 SF

      2100 Goshen Rd

      OFFICE (GENERAL) • 46,078 SF
      2100 Goshen Rd, Fort Wayne, IN 46808-1493
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      60,040 SF

      Fully Leased Fort Wayne Investment

      Fully leased investment property with strong tenant and attractive NOI.
      2980 E Coliseum Blvd, Fort Wayne, IN 46808
      View Details
    • $425,000
      1,800 SF

      Downtown Fort Wayne Bar for Sale

      Historic Main Street, turnkey bar, liquor license included.
      1201 Main St, Fort Wayne, IN 46808
      View Details
    • $1,200,000
      2.70 Acres

      Hillegas Road Commercial Land

      2.7-acre commercial land, Fort Wayne, IN.
      2522 Hillegas Rd, Fort Wayne, IN 46808
      View Details
    • $550,000
      1.20 Acres

      Fort Wayne Commercial Land

      1.2 Acres, High-Traffic Location
      1329 State Blvd, Fort Wayne, IN 46808
      View Details
    • $2,600,000
      42,320 SF

      Historic Building with Redevelopment Potential

      Historic mixed-use building near Riverfront Park with redevelopment opportunities.
      200 6Th St, Fort Wayne, IN 46808
      View Details
    • Contact for pricing
      125,485 SF

      Fort Wayne Cold Storage Facility

      125,485 SF cold storage facility available for sale.
      5025 Executive Blvd, Fort Wayne, IN 46808
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      30,000 SF

      Fort Wayne Warehouse Space Available

      7,500 SF Warehouse, Office Space
      3927 Kraft Pkwy, Fort Wayne, IN 46808
      View Details
    • Contact for pricing
      11,337 SF

      Office Space Near Universities

      Three-story office buildings near Purdue University Fort Wayne.
      3500 East Coliseum Blvd, Fort Wayne, IN 46808
      View Details
    • Contact for pricing
      2,607 SF

      Retail Spaces in Kroger Anchored Center

      Retail and office spaces available in Kroger anchored shopping center.
      1201 W State Blvd, Fort Wayne, IN 46808
      View Details
    • $12 SF/Yr

      Retail Center on Bustling Street

      Retail suites available in high-traffic Fort Wayne location.
      821 W Coliseum Blvd, Fort Wayne, IN 46808
      View Details
    • Contact for pricing
      15,284 SF

      Clean Warehouse/Flex Space Available

      Air-conditioned warehouse/flex space with ample parking and office.
      5335 Bass Rd, Fort Wayne, IN 46808
      View Details
    • $6 SF/Yr
      43,560 SF

      Retail Space Near I-69

      Retail spaces available near I-69 and Downtown Fort Wayne.
      1421-1575 Goshen Ave, Fort Wayne, IN 46808
      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.
    3707 Hillegas Rd
    Fort Wayne, IN 46808-1351
    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.