Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    950 Fairfax Ave Fort Wayne, IN 46806-3123

    • Office Properties & Spaces
    • 36,171 SF
    • 10.37 lot acres
    OFF-MARKET
    Value Estimations
    $2,555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0680060
    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

    • Southern Heights Elementary School / High School
    • Scott Academy / High School

    Property Details for 950 Fairfax Ave

    Year built
    1950
    Construction
    TYPE NOT SPECIFIED
    Lot size
    10.37 lot acres
    Property size
    36,171 SF
    Property type
    Office Properties & Spaces
    APN
    02-12-24-333-013.000-074
    APU
    21224333013000074

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,682,000
      Market price range: $1.02M - $4.71M
      AI Estimate
      $2,426,000
      Market price range: $934k - $3.95M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,680,000
      Current use
      RETAIL STORES
      $3,430,000
      Change: +28% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1242
    Latitude
    41.0359
    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
      $965,000
      8,794 SF

      5311 Hessen Cassel Rd

      OFFICE (GENERAL) • 8,794 SF
      5311 Hessen Cassel Rd, Fort Wayne, IN 46806-3562
      View Details
    • Value Estimation by Request
      5,734 SF

      3017 Oxford St

      OFFICE (GENERAL) • 5,734 SF
      3017 Oxford St, Fort Wayne, IN 46806-4354
      View Details
    • Value Estimation by Request
      4,869 SF

      5300 Anthony Blvd

      OFFICE (GENERAL) • 4,869 SF
      5300 Anthony Blvd, Fort Wayne, IN 46806-3314
      View Details
    • Value Estimation
      $1,125,000
      8,960 SF

      5420 Anthony Blvd

      OFFICE (GENERAL) • 8,960 SF
      5420 Anthony Blvd, Fort Wayne, IN 46806-3316
      View Details
    • Value Estimation
      $2,570,000
      31,500 SF

      4001 Anthony Blvd

      OFFICE (GENERAL) • 31,500 SF
      4001 Anthony Blvd, Fort Wayne, IN 46806-1938
      View Details
    • Value Estimation
      $1,705,000
      19,048 SF

      1101 Mckinnie Ave

      OFFICE (GENERAL) • 19,048 SF
      1101 Mckinnie Ave, Fort Wayne, IN 46806-2456
      View Details

    Similar Nearby for Sale

    • $2,368,450
      67.67 Acres

      Prime Fort Wayne Industrial Land

      67 Acres, I3 Zoning, $35k/Acre
      3800 Meyer Rd, Fort Wayne, IN 46806
      View Details
    • Contact for pricing
      33 SF

      Industrial Land in Fort Wayne

      33.92 acres in industrial park, close to highways.
      4300 Allen Martin Dr, Fort Wayne, IN 46806
      View Details
    • $415,000
      5,093 SF

      Fort Wayne Fourplex Investment Opportunity

      Fourplex with three vacant units, business potential, and good income.
      315 Dalman Ave, Fort Wayne, IN 46806
      View Details
    • $126,500
      1,065 SF

      Updated Ranch Home with Garage

      Move-in ready 4-bedroom ranch with updates and spacious 2-car garage.
      4423 Bowser Ave, Fort Wayne, IN 46806
      View Details
    • Contact for pricing
      Pending

      Commercial Land on Pontiac Street

      Land available for development with urban corridor zoning.
      1117 E Pontiac St, Fort Wayne, IN 46806
      View Details
    • Contact for pricing

      Prime Fort Wayne Industrial Land

      I-2 Zoned Land Near Google
      4300 Allen Martin Dr, Fort Wayne, IN 46806
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo
      828 SF

      Renovated Office Space Available

      Move-in ready office space with flexible layout in Fort Wayne.
      3109 Oxford St, Fort Wayne, IN 46806
      View Details
    • $1,400 /Mo

      Renovated Commercial Space for Rent

      Move-in ready commercial space with flexible layout and ample parking.
      3109 Oxford St, Fort Wayne, IN 46806
      View Details
    • Contact for pricing
      7,000 SF

      Functional Warehouse Space Near I-69

      7,000 SF warehouse with dock doors and recent updates.
      4039-4149 N Clinton St, Fort Wayne, IN 46806
      View Details
    • Contact for pricing

      Development Land Near Retail Anchors

      Land available near Walmart and Menards with high traffic counts.
      Decatur Rd, Fort Wayne, IN 46806
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    950 Fairfax Ave
    Fort Wayne, IN 46806-3123
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.