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

    9700 Coverdale Rd Fort Wayne, IN 46809

    • Commercial real estate
    • 57.06 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0378678
    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

    • Commercial real estate

    Property Details for 9700 Coverdale Rd

    Lot size
    57.06 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional ±57.06-acre parcel of commercial and industrial land presents a compelling investment opportunity in Fort Wayne, Indiana. Strategically located near the Fort Wayne airport, this property boasts convenient access to major interstate highways, ensuring seamless transportation and logistics. Utilities are readily available at or near the site, simplifying development plans. The land is situated within a rapidly expanding industrial corridor, promising significant future development potential. Its size and prime location make it particularly attractive for large-scale projects. The asking price of $1,141,200 is highly competitive and presents a strong value proposition, especially for investors seeking a 1031 exchange opportunity. The seller is motivated, making this a timely investment with considerable upside potential. The property's address is 9700 Coverdale Rd, Fort Wayne, IN 46809, in Allen County. This is a rare chance to acquire a substantial land holding in a thriving area with excellent infrastructure and growth prospects. Don't miss this chance to secure a significant piece of Fort Wayne's burgeoning industrial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.22083
    Latitude
    40.99117

    Comparable in this City

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    • $935,000
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      Fort Wayne Industrial Land - 6.6 Acres

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      2.00 Acres

      Fort Wayne Industrial Land Opportunity

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    • $400,000
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      3231 Engle Rd

      Land • 2.25 Acres
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      107.91 Acres

      Prime Fort Wayne Industrial Land

      107 Acres, AG Zoning, Development Ready
      11402 Buskirk Rd, Fort Wayne, IN 46809
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      776,000 SF

      Versatile Warehouse and Flex Space

      Warehouse, flex, and office space near Fort Wayne Airport.
      3320 Ferguson Rd, Fort Wayne, IN 46809
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    Similar Nearby for Sale

    • $400,000
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      3231 Engle Rd

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    • $935,000
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      Fort Wayne Industrial Land - 6.6 Acres

      6.6-acre industrial land, shovel-ready lots.
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    • $142,702
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      Prime Fort Wayne Industrial Land

      3.64 Acres, I2 Zoning, $142,702
      9390 Yeager Dr, Fort Wayne, IN 46809
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      2.00 Acres

      Fort Wayne Industrial Land Opportunity

      Divisible land near I-69 & airport.
      5117 Lower Huntington Rd, Fort Wayne, IN 46809
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      107.91 Acres

      Prime Fort Wayne Industrial Land

      107 Acres, AG Zoning, Development Ready
      11402 Buskirk Rd, Fort Wayne, IN 46809
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    • Contact for pricing
      776,000 SF

      Versatile Warehouse and Flex Space

      Warehouse, flex, and office space near Fort Wayne Airport.
      3320 Ferguson Rd, Fort Wayne, IN 46809
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    Similar Nearby for Lease

    • $5 SF/Yr
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    • $7 SF/Yr
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      Fort Wayne Warehouse - 30,000 SF

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      150,000 SF

      Fort Wayne Warehouse Ready

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    • $6 SF/Yr
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      Airport Drive Industrial Complex

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    • $7,000,000
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      Versatile Industrial Facility in Fort Wayne

      120,040 SF industrial building with expansion potential.
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    • Contact for pricing
      10,970 SF

      Industrial Facility with Office Space

      10,970 SF industrial space with 1,500 SF office.
      4232 Earth Dr, Fort Wayne, IN 46809
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    9700 Coverdale Rd
    Fort Wayne, IN 46809
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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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