Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    4121 Norarrow Dr Fort Wayne, IN 46845

    Property Lookup

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

    4121 Norarrow Dr Fort Wayne, IN 46845

    View on Map
    • Commercial real estate
    • 4.00 lot acres
    For Sale
    $599,900
    View Listing →
    Prime Commercial Land Opportunity For Sale
    $599,900
    4.00 Acres

    Prime Commercial Land Opportunity

    4 acres near Parkview Hospital, ideal for commercial development.

    4121 Norarrow Drive, Fort Wayne, IN 46845
    View Listing
    Property ID
    US31-3399493
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4121 Norarrow Dr

    Lot size
    4.00 lot acres
    Property type
    Commercial real estate

    Description

    Exceptional commercial development opportunity in Fort Wayne, Indiana. This 4-acre parcel, part of a larger 10.71-acre offering (total price $2,350,000), is ideally situated on Norarrow Drive, directly across from Parkview Regional Hospital. Its location offers unparalleled visibility and convenience, with easy access to I-69 via nearby Union Chapel and Dupont Roads. The area is experiencing significant commercial and medical expansion, making this a strategic investment. All utilities are readily available, and the site features excellent drainage, ensuring a streamlined development process. This property presents a rare chance to capitalize on the growth in this thriving commercial hub. The property is being sold with two adjacent parcels (4321 and 4421 Norarrow Dr) to comprise the total acreage. The asking price reflects this 4-acre parcel only. This is a high-demand location with strong potential for various commercial or multi-family developments.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.0921475
    Latitude
    41.1926173

    Comparable in this City

    • $1,350,000
      6.14 Acres

      Versatile Commercial Land Opportunity

      6.14-acre commercial land suitable for retail, restaurants, multifamily, gas station.
      12205 Coldwater Rd, Fort Wayne, IN 46845
      View Details
    • $875,000
      2.58 Acres

      Prime Fort Wayne Residential Land

      2.58 Acres, $875,000 - Build Your Dream Home
      4031 Norarrow Dr, Fort Wayne, IN 46845
      View Details
    • $325,000
      2.05 Acres

      Two Acre Wooded Residential Lot

      Two acre wooded lot in Northwest Fort Wayne neighborhood.
      14570 Magnolia Run Pkwy, Fort Wayne, IN 46845
      View Details
    • Contact for pricing

      Land Near Parkview Hospital

      Land available near new Parkview Regional Hospital in Fort Wayne.
      4031 Norarrow Dr, Fort Wayne, IN 46845
      View Details
    • $1,100,000

      Prime Corner Lot Opportunity

      Nearly 2-acre hard-corner lot in a growing area.
      1901 Hathaway Rd, Fort Wayne, IN 46845
      View Details
    • Contact for pricing

      Commercial Lots on Dupont Road

      Prime commercial property in a rapidly growing Fort Wayne area.
      10150 Oak Xing, Fort Wayne, IN 46845
      View Details

    Similar Nearby for Sale

    • $1,350,000
      6.14 Acres

      Versatile Commercial Land Opportunity

      6.14-acre commercial land suitable for retail, restaurants, multifamily, gas station.
      12205 Coldwater Rd, Fort Wayne, IN 46845
      View Details
    • $875,000
      2.58 Acres

      Prime Fort Wayne Residential Land

      2.58 Acres, $875,000 - Build Your Dream Home
      4031 Norarrow Dr, Fort Wayne, IN 46845
      View Details
    • $325,000
      2.05 Acres

      Two Acre Wooded Residential Lot

      Two acre wooded lot in Northwest Fort Wayne neighborhood.
      14570 Magnolia Run Pkwy, Fort Wayne, IN 46845
      View Details
    • Contact for pricing

      Land Near Parkview Hospital

      Land available near new Parkview Regional Hospital in Fort Wayne.
      4031 Norarrow Dr, Fort Wayne, IN 46845
      View Details
    • $1,100,000

      Prime Corner Lot Opportunity

      Nearly 2-acre hard-corner lot in a growing area.
      1901 Hathaway Rd, Fort Wayne, IN 46845
      View Details
    • Contact for pricing

      Commercial Lots on Dupont Road

      Prime commercial property in a rapidly growing Fort Wayne area.
      10150 Oak Xing, Fort Wayne, IN 46845
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Rent

      Office space available for rent, approximately 1,495 square feet.
      12912 Coldwater Rd, Fort Wayne, IN 46845
      View Details
    • Contact for pricing

      Watersong Office Park

      Office space available for rent in Watersong Office Park.
      12820-C Coldwater Rd, Fort Wayne, IN 46845
      View Details
    View Listing
    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.
    4121 Norarrow Dr
    Fort Wayne, IN 46845
    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.
    Sign Up Successful!
    You now have access to more from Realmo!