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

    5702 Challenger Pkwy Fort Wayne, IN 46818-1712

    • Hotels
    • 53,303 SF
    • 2.01 lot acres
    OFF-MARKET
    Value Estimations
    $775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0239548
    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

    • Hilton Inn / Restaurant
    • Hampton Inn & Suites Ft. Wayne-North / Hotel & Motel

    Property Details for 5702 Challenger Pkwy

    Year built
    1996
    Construction
    WOOD
    Lot size
    2.01 lot acres
    Property size
    53,303 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    02-07-22-202-004.000-073
    APU
    20722202004000073

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $595,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $958,000
      Market price range: $728k - $6.24M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1631
    Latitude
    41.1299
    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
    $65,819
    $437,800
    $2,058,000
    $2,495,800
    -
    $437,800
    $2,058,000
    $2,495,800

    Comparable in this City

    • Value Estimation by Request
      4,510 SF

      2320 Washington Ctr Rd

      HOTEL/MOTEL • 4,510 SF
      2320 Washington Ctr Rd, Fort Wayne, IN 46818-1406
      View Details
    • Value Estimation by Request
      2,912 SF

      4527 Craftsbury Cir, Unit 4698

      HOTEL/MOTEL • 2,912 SF
      4527 Craftsbury Cir, Fort Wayne, IN 46818-2047
      View Details
    • Value Estimation
      $620,000
      30,710 SF

      6601 Innovation Blvd

      HOTEL/MOTEL • 30,710 SF
      6601 Innovation Blvd, Fort Wayne, IN 46818-1391
      View Details
    • Value Estimation
      $1,045,000
      77,968 SF

      5750 Challenger Pkwy

      HOTEL/MOTEL • 77,968 SF
      5750 Challenger Pkwy, Fort Wayne, IN 46818-1712
      View Details
    • Value Estimation
      $725,000
      46,716 SF

      1734 Washington Ctr Rd

      HOTEL/MOTEL • 46,716 SF
      1734 Washington Ctr Rd, Fort Wayne, IN 46818-1418
      View Details
    • Value Estimation
      $730,000
      40,590 SF

      5810 Challenger Pkwy

      HOTEL/MOTEL • 40,590 SF
      5810 Challenger Pkwy, Fort Wayne, IN 46818-1714
      View Details

    Similar Nearby for Sale

    • $1,650,000
      56.41 Acres

      Vicksburg Pike Industrial Land Sale

      56 Acres, I2P Zoned Industrial Land
      0 Bass Rd, Fort Wayne, IN 46818
      View Details
    • $72,900
      0.26 Acres

      Residential Land in Fort Wayne

      Residential land near Carroll High School with easy access to Lima Road.
      5053 Silverstone Psge, Fort Wayne, IN 46818
      View Details
    • $344,900
      3.57 Acres

      Fort Wayne Land with Potential

      3.57 acre lot with commercial and development potential.
      2605 W Dupont Rd, Fort Wayne, IN 46818
      View Details
    • $575,000

      Prime Commercial Land on Lima

      0.8 acre commercial land with high visibility and accessibility.
      9000 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $250,000
      1.00 Acre

      9805 Lima Rd

      Land • 1.00 Acre
      9805 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $1,300,000
      4.00 Acres

      Prime Fort Wayne Commercial Land

      4 Acres, C2 Zoning, High Traffic
      5725 Hatfield Rd, Fort Wayne, IN 46818
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr

      Fort Wayne Industrial/Flex Space

      11,440 SF industrial/flex space in Fort Wayne, Indiana.
      3911 Merchant Rd, Fort Wayne, IN 46818
      View Details
    • $16 SF/Yr

      Office Space in Siena Office Park

      7,133 SF office space for lease in high-traffic area.
      9600 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      1,680 SF

      Retail Space in Cross Creek

      Retail space available in a professionally managed Fort Wayne location.
      5820-5836 Challenger Pkwy, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      24,000 SF

      Industrial Land Leaseback Opportunity

      19.33 acres in Metro Business Park for lease.
      Metro Park Dr North, Fort Wayne, IN 46818
      View Details
    • $20 SF/Yr
      120,000 SF

      High-Quality Office Space Available

      Office, manufacturing, and distribution space for lease in Fort Wayne.
      1919 W Cook Rd, Fort Wayne, IN 46818
      View Details
    • $15 SF/Yr
      280,526 SF

      Fort Wayne Office Space Available

      Executive & Creative Office Suites, 5,200-49,500 SF
      5001 Us Highway 30, Fort Wayne, IN 46818
      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.
    5702 Challenger Pkwy
    Fort Wayne, IN 46818-1712
    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.