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    Property profile & analytics

    8113 Lima Rd Fort Wayne, IN 46818-2162

    • Parking lots & garages
    • 13,465 SF
    • 0.86 lot acres
    OFF-MARKET
    Value Estimations
    $895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0023412
    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

    • IBEW 723 / Advocacy Group

    Property Details for 8113 Lima Rd

    Year built
    1987
    Lot size
    0.86 lot acres
    Property size
    13,465 SF
    Property type
    Parking lots & garages
    APN
    02-07-10-182-018.000-073
    APU
    20710182018000073

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $892,000
      Market price range: $329k - $1.49M

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $895,000
      Current use
      RESTAURANT
      $1,255,000
      Change: +41% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $985,000
      Change: +10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $790,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.166
    Latitude
    41.1549
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.92 Acres

      9430 Lima Rd

      PARKING LOT • 3.92 Acres
      9430 Lima Rd, Fort Wayne, IN 46818-8678
      View Details
    • Value Estimation by Request
      1,980 SF

      2330 Centralyard Ct

      PARKING GARAGE, PARKING STRUCTURE • 1,980 SF
      2330 Centralyard Ct, Fort Wayne, IN 46818-8974
      View Details
    • Value Estimation by Request
      3.01 Acres

      Transportation Dr

      PARKING LOT • 3.01 Acres
      Transportation Dr, Fort Wayne, IN 46818
      View Details
    • Value Estimation by Request
      3,330 SF

      5202 Washington Ctr Rd

      PARKING GARAGE, PARKING STRUCTURE • 3,330 SF
      5202 Washington Ctr Rd, Fort Wayne, IN 46818-9750
      View Details
    • Value Estimation by Request
      1.50 Acres

      8970 Lima Rd

      PARKING LOT • 1.50 Acres
      8970 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Value Estimation by Request
      1.57 Acres

      Commodity Ct

      PARKING LOT • 1.57 Acres
      Commodity Ct, Fort Wayne, IN 46818
      View Details

    Similar Nearby for Sale

    • New
      $760,000
      0.90 Acres

      Profitable Auto Repair Business Opportunity

      Established auto repair shop for sale on high-traffic road.
      7709 Lima Rd Rds, Fort Wayne, IN 46818
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      2,228 SF

      Profitable Auto Repair Business Opportunity

      Operating auto repair business for sale on high-traffic road.
      7709 Lima Rd, Fort Wayne, IN 46818
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    • $983,000
      Pending

      Restaurant Opportunity Beside Cosmo's

      Located in Walmart shopping center near other restaurants.
      9931 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing

      Established Retail Center on Lima

      Well-maintained retail center with high visibility and ample parking.
      9105-9187 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      3,948 SF

      High-Profile Corner Retail Opportunity

      Retail property on high-traffic corner near hospitals and restaurants.
      2929 E Dupont 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

    Similar Nearby for Lease

    • Contact for pricing
      1,666 SF

      Retail Space on Dupont Road

      Retail space for lease with high visibility and traffic.
      2868-2898 East Dupont Rd, Fort Wayne, IN 46818
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    • Contact for pricing
      1,558 SF

      Lima Road Retail/Office Space

      Retail or office space available on Lima Road.
      9121 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity with high visibility and customer traffic.
      6309 Lima Rd, Fort Wayne, IN 46818
      View Details
    • Contact for pricing

      High-Visibility Retail Space Available

      Prime retail location with excellent signage and traffic exposure.
      5820 Challenger Pkwy, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      20,936 SF

      Retail Space in Lima Marketplace

      Retail space available in a busy Fort Wayne shopping center.
      10001-10035 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $15 SF/Yr
      4,273 SF

      Retail Space Near I-69

      4,273 SF end cap retail space for lease.
      2910-2936 E Dupont Rd, Fort Wayne, IN 46818
      View Details
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    8113 Lima Rd
    Fort Wayne, IN 46818-2162
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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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