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

    8045 Oriole Ave Fort Wayne, IN 46804-0015

    • Hotels
    • 3,544 SF
    • 11.46 lot acres
    OFF-MARKET
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    8.4%
    Hotels
    Location Intelligence
    Property ID
    US31-0988762
    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

    • Hotels

    Property Details for 8045 Oriole Ave

    Year built
    2016
    Construction
    WOOD
    Lot size
    11.46 lot acres
    Property size
    3,544 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    02-11-23-400-019.000-038
    APU
    21123400019000038

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $210,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $295,000
      6.5%
      $275,000
      7%
      $255,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $215,000
      Current use
      COMMERCIAL (GENERAL)
      $325,000
      Change: +52% Conversion: Difficult
      RETAIL STORES
      $180,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.2478
    Latitude
    41.0335
    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
    $267,890
    $1,031,400
    $16,013,000
    $17,044,400
    -
    $1,031,400
    $16,013,000
    $17,044,400

    Comparable in this City

    • Value Estimation
      $245,000
      2,824 SF

      7051 Pointe Inverness Way

      HOTEL/MOTEL • 2,824 SF
      7051 Pointe Inverness Way, Fort Wayne, IN 46804-7905
      View Details
    • Value Estimation
      $840,000
      57,993 SF

      5925 Ellison Rd

      HOTEL/MOTEL • 57,993 SF
      5925 Ellison Rd, Fort Wayne, IN 46804-4711
      View Details
    • Value Estimation
      $1,065,000
      65,912 SF

      8621 Us Hwy 24th W

      HOTEL/MOTEL • 65,912 SF
      8621 Us Hwy 24th W, Fort Wayne, IN 46804-4743
      View Details
    • Value Estimation by Request
      2,983 SF

      6700 Covington Crk Trl

      HOTEL/MOTEL • 2,983 SF
      6700 Covington Crk Trl, Fort Wayne, IN 46804-2870
      View Details
    • Value Estimation
      $815,000
      53,084 SF

      5501 Coventry Ln

      HOTEL/MOTEL • 53,084 SF
      5501 Coventry Ln, Fort Wayne, IN 46804-7144
      View Details
    • Value Estimation
      $355,000
      2,820 SF

      4499 Coventry Pkwy

      HOTEL/MOTEL • 2,820 SF
      4499 Coventry Pkwy, Fort Wayne, IN 46804-7107
      View Details

    Similar Nearby for Sale

    • $1,188,000
      0.57 Acres

      Mixed-Use Property in Fort Wayne

      Mixed-use property suitable for motel, business, or apartments.
      5634 W Jefferson Blvd, Fort Wayne, IN 46804
      View Details
    • Contact for pricing

      Fort Wayne Hotel Portfolio Opportunity

      Two hotels with value-add potential in growing Fort Wayne.
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    • $413,000
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      Ellison Road Commercial Land

      1.58 Acres, Prime Fort Wayne Location
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    • $137,900
      1.72 Acres

      Engle Road Commercial Land Parcel

      1.72 Acres, C-1 Zoning, Fort Wayne
      7209 Engle Rd, Fort Wayne, IN 46804
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    • $1,188,000
      0.57 Acres

      Fort Wayne Commercial Land Investment

      Prime 0.57-acre commercial lot, 24,829 SF.
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    • $2,500,000
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      Illinois Road Commercial Land

      Prime Fort Wayne location, high traffic, versatile
      5200 Illinois Rd, Fort Wayne, IN 46804
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    Similar Nearby for Lease

    • $9 SF/Yr
      140,484 SF

      Fort Wayne Office/Warehouse Space

      Move-in ready office & warehouse, ideal location.
      7235 Vicksburg Pike, Fort Wayne, IN 46804
      View Details
    • $17 SF/Yr
      46,937 SF

      Midwestern Office Park: Fort Wayne Office Space

      Prime SW Fort Wayne office space near I-69.
      7221 Engle Rd, Fort Wayne, IN 46804
      View Details
    • $17 SF/Yr
      17,845 SF

      Fort Wayne Executive Office Suites

      Modern Office Space, I-69 Access
      6110 Constitution Dr, Fort Wayne, IN 46804
      View Details
    • $16 SF/Yr
      355,012 SF

      Magnavox Way Office Center

      Fort Wayne, IN Class A Office Space
      1700 Magnavox Way, Fort Wayne, IN 46804
      View Details
    • Contact for pricing

      Commercial Land Near Jefferson Pointe

      Commercial land available across from Jefferson Pointe Mall.
      4120 Illinois Rd, Fort Wayne, IN 46804
      View Details
    • $14 SF/Yr
      55,005 SF

      Office Park West Office Space

      Office spaces for lease in southwest Fort Wayne.
      4646 W Jefferson Blvd, Fort Wayne, IN 46804
      View Details
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    8045 Oriole Ave
    Fort Wayne, IN 46804-0015
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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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