7221 Engle RdFort Wayne, IN 46804

Property Details for 7221 Engle Rd

Year built

1991

Construction

TYPE NOT SPECIFIED

Lot size

2.55 AC

Property size (Sq ft)

23,600 SF

Property type

Office properties

APN

02-11-24-129-008.000-038

APU

21124129008000038

Description

Midwestern Office Park offers exceptional office space in southwest Fort Wayne, ideally situated less than a mile from Lutheran Hospital and the I-69 interchange. This two-building complex, constructed in 1990, boasts a total of 46,937 square feet across two stories, encompassing seven suites. Currently, 26,381 square feet of space is available, with minimum divisible units of 1,501 square feet and a maximum contiguous space of 11,455 square feet. The property sits on a 4.99-acre lot and is zoned C1 - Professional Office & Personal Services (Allen County APN: 02-11-24-129-008.000-038). The property features convenient front door parking on both levels, providing ample parking at a ratio of 4 spaces per 1,000 square feet. While elevators are not present, the building offers easy access and a desirable location. Tenancy is multiple, allowing for flexibility in lease terms. The full-service leases include professional and responsive management. Enjoy a beautiful setting near ponds and walking trails, with wooded areas and lake views. The location provides easy access to a variety of amenities, including retail, banking, services, hotels, and restaurants, all within close proximity. Its strategic location also places it within seven miles of Downtown Fort Wayne and the Fort Wayne International Airport. This property presents a unique opportunity for businesses seeking a high-quality, well-located office space in a desirable setting.

• CAP approach

  CAP return

  Valuation

  6%

  $4,438,712

  6.5%

  $4,097,272

  7%

  $3,804,610

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,552,642

  Geo Method

  $464,684

• Alternative Use

  Use

  Valuation

  Residential

  $5,080,618

  Hospitality

  $4,653,818

  Educational

  $3,871,922

  Medical

  $4,005,084

  Retail

  $6,022,990

Location Insight

City

Fort Wayne

County

Allen

State

Indiana

Latitude

41.0432

Longitude

-85.2365

CBSA code

23060

CBSA name

FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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