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Property profile & analytics
OFF-MARKET
Estimated value
$2,870,000
Office Spaces
7230 Engle Rd Fort Wayne, IN 46804-2209
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-1039255
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1990
Construction
TYPE NOT SPECIFIED
Total area
21,960 SF
Lot
0.51 ac (22,216 SF)
APN
02-11-24-127-001.001-075
UPID
US31-1039255
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Revenue Department State Government Office Accounting
-
Metro Infusion Center Medical Clinic
-
Midwest Oral and Maxillofacial Surgery Dental Office
-
Reifeis Jr Robert L DDS Dental Office
-
Child's Play Plus - Jefferson Park Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.46M
Comparable Approach
Comparable
$2.31M
Blend (final)
Blend
$2.87M
Owner & transaction history
Financial Holding Corp · 18 yrs held
Financial Holding Corp
since 2008
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.1M
+27.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Wayne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,745,000
6.5%
$3,460,000
7%
$3,210,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,085,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$2.87M
Range $2.58M – $3.16M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$131 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$45,609
Tax year 2023
Assessed value
$1,952,300
Assessed 2023
Previous assessed
$1,952,300
+0.0% YoY
Effective rate
2.34%
On assessed value
Assessed land
$66,700
Assessed improvement
$1,885,600
Land market value
$66,700
Improvement market value
$1,885,600
Total market value
$1,952,300
Applied tax rate
59.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
3
Total area
21,960 SF
Lot
0.51 ac (22,216 SF)
APN
02-11-24-127-001.001-075
UPID
US31-1039255
Jurisdiction
ALLEN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$2.1M
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Buildings
2
Lot
0.51 ac
Current owner
From public records · entity-resolved
Financial Holding Corp
Entity
Free & Clear · 18 yrs held
Mailing address
5725 DRAGON WAY STE #400, CINCINNATI, OH 45227-4519
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2019
—
Alea Properties Office I LLC
—
Deed
related
$3,055,000 · First Federal Bank Of The Midwest
Jun 26, 2019
—
Alea Properties Office I LLC
—
Deed
related
$250,000 · First Federal Bank Of The Midwest
Nov 8, 2018
—
Alea Properties Office I LLC
—
Deed
related
$600,000 · First Federal Bank Of The Midwest
Dec 5, 2017
—
Alea Propeties Office I LLC
—
Deed
related
$1,298,500 · First Federal Bank Of The Midwest
Apr 9, 2008
$3,001,272
Financial Holding Corp
Medical Park Partners
Correction Deed
related
—
May 25, 2007
$3,001,272
Financial Holding Corp
Medical Park Partners
Sheriffs Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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