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

    9116 Lima Rd Fort Wayne, IN 46818-1804

    • Retail space
    • 1,884 SF
    • 10.76 lot acres
    OFF-MARKET
    Last Sale
    Jan 03, 2024
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    5.1%
    Retail space
    Location Intelligence
    Property ID
    US31-3405608
    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

    • Retail space

    Property Details for 9116 Lima Rd

    Year built
    1989
    Construction
    WOOD
    Lot size
    10.76 lot acres
    Property size
    1,884 SF
    Property type
    Retail space
    APN
    02-07-03-451-001.000-073
    APU
    20703451001000073

    Description

    This exceptional 2.65-acre commercial land parcel presents a unique investment opportunity in Fort Wayne, Indiana. Located at 9116 Lima Rd, Allen County, this fee-simple property boasts 350 feet of frontage on Lima Road, a major thoroughfare connecting I-69 to Huntertown. The site benefits from high visibility and easy access to I-69, experiencing a daily traffic volume of 36,000 vehicles. Zoned C3, this land is ideal for a variety of commercial uses, including retail, B2B, and industrial developments. The property will be delivered with a new entrance, city water tap, and off-site detention, simplifying the development process. The asking price is $1,600,000. Given its strategic location, high traffic count, and convenient access to major transportation routes, this property represents a compelling investment opportunity for discerning buyers seeking a prime commercial location in a thriving area. The property's existing infrastructure improvements, including the new entrance, water tap, and off-site detention, further enhance its value and appeal. This is a rare chance to acquire a significant commercial land parcel in a high-demand area of Fort Wayne. The zip code is 46818.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $300,000
      6.5%
      $280,000
      7%
      $260,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $316,000
      Market price range: $61.7k - $316k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1633
    Latitude
    41.1647
    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
    $14,652
    $536,000
    $19,600
    $555,600
    -
    $536,000
    $19,600
    $555,600

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation
      $520,000
      18,580 SF

      5820 Challenger Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 18,580 SF
      5820 Challenger Pkwy, Fort Wayne, IN 46818-1714
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    • Value Estimation
      $460,000
      15,000 SF

      6393 Cross Crk Blvd

      RETAIL STORES (PERSONAL SERVICES) • 15,000 SF
      6393 Cross Crk Blvd, Fort Wayne, IN 46818-1724
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    • Value Estimation
      $295,000
      7,200 SF

      1820 Dupont Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      1820 Dupont Rd, Fort Wayne, IN 46818-8730
      View Details
    • Value Estimation
      $585,000
      11,100 SF

      14601 Lima Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,100 SF
      14601 Lima Rd, Fort Wayne, IN 46818-8300
      View Details
    • Value Estimation
      $290,000
      6,528 SF

      9810 Lima Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,528 SF
      9810 Lima Rd, Fort Wayne, IN 46818-9515
      View Details

    Similar Nearby for Sale

    • $1,500,000
      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
    • $2,963,822
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      Prime Fort Wayne Retail Site

      High-traffic corner lot, development ready.
      13500 Lima Rd, Fort Wayne, IN 46818
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    • Contact for pricing
      56,843 SF

      Established Retail Center on Lima

      Well-maintained retail center with high visibility and ample parking.
      9105-9187 Lima Rd, Fort Wayne, IN 46818
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    • $760,000
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      Established Auto Shop on Lima Rd

      Fort Wayne Auto Repair Business - High Traffic!
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    • $575,000
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      Lima Road Commercial Land Opportunity

      High-visibility 0.8-acre lot, ideal for owner-users.
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    • $983,000
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      Restaurant Opportunity Beside Cosmo's

      Located in Walmart shopping center near other restaurants.
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    Similar Nearby for Lease

    • $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
    • $9 SF/Yr
      1,500 SF

      Lima Road Retail/Office Space

      Retail or office space available on Lima Road.
      9121 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $24 SF/Yr
      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
      View Details
    • $15 SF/Yr
      1,680 SF

      Retail Space in Cross Creek

      Retail space available in a professionally managed Fort Wayne location.
      5820-5836 Challenger Pkwy, Fort Wayne, IN 46818
      View Details
    • Contact for pricing
      1,489 SF

      Meijer In-Store Retail Space

      Fort Wayne Retail Space Available
      6309 Lima Rd, Fort Wayne, IN 46818
      View Details
    • $15 SF/Yr
      18,440 SF

      High-Traffic Retail Center Investment

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      5820 Challenger Pkwy, Fort Wayne, IN 46818
      View Details
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    9116 Lima Rd
    Fort Wayne, IN 46818-1804
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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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