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    Property profile & analytics

    6720 Old Trail Rd Fort Wayne, IN 46809

    • Retail space
    • 1,625 SF
    • 0.11 lot acres
    For Lease
    View listing
    $2,100 /Mo
    Last Sale
    Jul 21, 2022
    Value Estimations
    $235,000
    Cap Rate Potential
    6.1%
    Retail space
    Location Intelligence
    Property ID
    US31-0395013
    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

    • L&L Nail Lounge / Eyelash Salon / Barber Shop

    Property Details for 6720 Old Trail Rd

    Year built
    1940
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    1,625 SF
    Property type
    Retail space
    APN
    02-12-28-433-032.000-074
    APU
    21228433032000074

    Description

    This 1,625-square-foot commercial property in Fort Wayne's Waynedale submarket, located at 6720 Old Trail Rd, offers a unique opportunity for businesses seeking flexible space. Built in 1925, this single-story Class C building sits on a 0.1-acre lot and features a total of 2302 suites. Currently, the entire 1,625 square feet is vacant and available for lease. The space is divisible to a minimum of 450 square feet, providing options for various business needs. Its previous uses included a barbershop and flower shop, highlighting its adaptability for retail, office, or creative uses. The property boasts high visibility and ample foot traffic, making it an ideal location for businesses seeking strong customer interaction. Its convenient location near the cross street of Lower Huntington Road in the 46809 zip code offers easy accessibility for both customers and employees. The open and adaptable layout allows for customization to suit specific business requirements. This property presents a compelling investment opportunity for entrepreneurs and established businesses alike. The property's location in the Waynedale submarket of Fort Wayne, Indiana, provides access to a thriving community and strong local demographics.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $260,000
      6.5%
      $240,000
      7%
      $225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $193,000
      Market price range: $53.2k - $273k
      AI Estimate
      $178,000
      Market price range: $70.8k - $245k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1719
    Latitude
    41.0205
    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
    $2,721
    $11,800
    $89,100
    $100,900
    -
    $11,800
    $89,100
    $100,900

    Comparable in this City

    • Value Estimation
      $220,000
      1,400 SF

      7712 Bluffton Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      7712 Bluffton Rd, Fort Wayne, IN 46809-2912
      View Details
    • Value Estimation by Request
      360 SF

      4100 Blk Sandpoint Rd

      RETAIL STORES (PERSONAL SERVICES) • 360 SF
      4100 Blk Sandpoint Rd, Fort Wayne, IN 46809
      View Details
    • Value Estimation
      $290,000
      1,932 SF

      1944 Bluffton Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,932 SF
      1944 Bluffton Rd, Fort Wayne, IN 46809-1307
      View Details
    • Value Estimation
      $265,000
      6,617 SF

      3113 Lowr Huntington Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,617 SF
      3113 Lowr Huntington Rd, Fort Wayne, IN 46809-2646
      View Details
    • Value Estimation
      $395,000
      11,100 SF

      1818 Bluffton Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,100 SF
      1818 Bluffton Rd, Fort Wayne, IN 46809-1306
      View Details
    • Value Estimation
      $315,000
      6,600 SF

      7002 Bluffton Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,600 SF
      7002 Bluffton Rd, Fort Wayne, IN 46809-2706
      View Details

    Similar Nearby for Sale

    • $499,000
      0.61 Acres

      Freestanding Retail Building For Sale

      7,000 SF retail building in great location.
      6441 Bluffton Rd, Fort Wayne, IN 46809
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    • $1,030,000
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      Bluffton Road Convenience Store

      Profitable Dollar General investment. High traffic location.
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    • $1,030,000
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      Stand Alone Retail Opportunity

      Stand alone retail property available for sale.
      6320 Bluffton Rd, Fort Wayne, IN 46809
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    • $1,250,000
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      Restaurant and Airbnb Opportunity

      Restaurant and Airbnb with equipment included for sale.
      5700 Bluffton Rd, Fort Wayne, IN 46809
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    • $1,400,000
      4,756 SF

      Fort Wayne Restaurant & Airbnb

      Profitable restaurant & Airbnb, fully equipped.
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    • $489,900
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      Iconic Restaurant Opportunity in Fort Wayne

      Turnkey restaurant for sale with real estate included.
      1820 Bluffton Rd, Fort Wayne, IN 46809
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    Similar Nearby for Lease

    • $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
    • $11 SF/Yr
      988 SF

      Updated Retail Space in Waynedale

      Updated storefront with excellent visibility and natural light.
      6704 Old Trail Rd, Fort Wayne, IN 46809
      View Details
    • $1,200 /Mo
      676 SF

      Freestanding Commercial Building For Lease

      Well-maintained commercial building in a community-oriented neighborhood.
      2801 Lower Huntington Rd, Fort Wayne, IN 46809
      View Details
    • $12,000 /Mo
      1,625 SF

      Fort Wayne Commercial Space

      Versatile Waynedale Office/Retail
      6720 Old Trail Rd, Fort Wayne, IN 46809
      View Details
    • $6 SF/Yr
      232,780 SF

      Airport Drive Industrial Complex

      Two Warehouses, Abundant Space Available
      9501 Airport Dr, 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
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    Fort Wayne, IN 46809
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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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