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

    6605 State Blvd Fort Wayne, IN 46815-7036

    • Office Properties & Spaces
    • 9,536 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Feb 17, 2022
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0541237
    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

    • Mc Kean Philip M DDS / Dental Office
    • S & J Insurance / Insurance Agency
    • Dr. Jane E. Rackley / Alternative Medicine Practice
    • Salon K / Hair Salon
    • AtLashed Beauty Bar / Hair Salon / Nail Salon

    Property Details for 6605 State Blvd

    Year built
    1973
    Construction
    WOOD
    Lot size
    1.01 lot acres
    Property size
    9,536 SF
    Property type
    Office Properties & Spaces
    APN
    02-08-34-102-017.000-072
    APU
    20834102017000072

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $534,000
      Market price range: $269k - $1.24M
      AI Estimate
      $768,000
      Market price range: $438k - $1.42M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $705,000
      Current use
      RETAIL STORES
      $905,000
      Change: +28% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.0569
    Latitude
    41.1032
    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
    $9,626
    $116,400
    $248,000
    $364,400
    -
    $116,400
    $248,000
    $364,400

    Comparable in this City

    • Value Estimation
      $13,955,000
      117,276 SF

      7400 State Blvd

      OFFICE (GENERAL) • 117,276 SF
      7400 State Blvd, Fort Wayne, IN 46815-6502
      View Details
    • Value Estimation
      $4,610,000
      50,988 SF

      6700 Trier Rd

      OFFICE (GENERAL) • 50,988 SF
      6700 Trier Rd, Fort Wayne, IN 46815-5455
      View Details
    • Value Estimation by Request
      1,200 SF

      6026 State Blvd

      OFFICE (GENERAL) • 1,200 SF
      6026 State Blvd, Fort Wayne, IN 46815-7639
      View Details
    • Value Estimation by Request
      5,400 SF

      2030 Inwood Dr

      OFFICE (GENERAL) • 5,400 SF
      2030 Inwood Dr, Fort Wayne, IN 46815-7113
      View Details
    • Value Estimation by Request
      4,989 SF

      3442 Stellhorn Rd

      OFFICE (GENERAL) • 4,989 SF
      3442 Stellhorn Rd, Fort Wayne, IN 46815-4630
      View Details
    • Value Estimation by Request
      2,400 SF

      4328 Flagstaff Cv

      OFFICE (GENERAL) • 2,400 SF
      4328 Flagstaff Cv, Fort Wayne, IN 46815-4416
      View Details

    Similar Nearby for Sale

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      3.74 Acres

      Stellhorn Crossing Office Park Lots

      Fort Wayne Office Park Land - Two Lots Available
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      Fort Wayne Office Investment

      Well-maintained office building with long-term tenants in prime location.
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      .81-acre lot, R1 zoning, high traffic area.
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    • $87,400
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      Fort Wayne Residential Pond Lot

      Residential land near Kreager Park, NE Fort Wayne, build opportunity.
      1301 Kayenta Trl, Fort Wayne, IN 46815
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    • $87,400
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      Fort Wayne Residential Pond Lot

      Residential land near Kreager Park, NE Fort Wayne, build-ready.
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    • $285,000
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      Fort Wayne Commercial Land Opportunity

      Prime 0.47-acre site, 20,473 SF.
      9705 Maysville Rd, Fort Wayne, IN 46815-4419
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    Similar Nearby for Lease

    • Contact for pricing
      74,403 SF

      Fort Wayne Office Space Available

      Modern Office Suites, 100-5,577 SF
      3201 Stellhorn Rd, Fort Wayne, IN 46815
      View Details
    • $8 SF/Yr
      114,827 SF

      Maplewood Plaza: Office & Retail Spaces

      Prime Retail/Office Space Available; High Traffic Location
      6110 Stellhorn Rd, Fort Wayne, IN 46815
      View Details
    • $12 SF/Yr
      7,592 SF

      Fort Wayne Office Space Available

      Modern Office Suite, Stellhorn Crossing
      9071 Stellhorn Crossing Pkwy, Fort Wayne, IN 46815
      View Details
    • Contact for pricing
      4,097 SF

      Renovated Retail Space with Garage

      4,097 SF renovated retail space with garage in Fort Wayne.
      5962-6014 Stellhorn Rd, Fort Wayne, IN 46815
      View Details
    • $14 SF/Yr
      12,596 SF

      Fort Wayne Office Space Available

      Office space for lease in a high-traffic Fort Wayne location.
      3601 Hobson Rd, Fort Wayne, IN 46815
      View Details
    • $400 /Mo
      294 SF

      Office Space in Georgetown Area

      Office space for rent in the Georgetown area of Fort Wayne.
      6008 Brandy Chase Cv, Fort Wayne, IN 46815
      View Details
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    6605 State Blvd
    Fort Wayne, IN 46815-7036
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    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
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