Add Listing
    For Sale
    • 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

    945 Mill Rd Loudonville, OH 44842

    View on Map
    Sponsored
    For Sale
    $230,000

    Commercial - Loudonville, OH

    Property size:
    23,000 SF
    Lot size:
    3.30 Acres
    Days on Market:
    39
    Last Refresh:
    Mar 14 at 11:06 pm

    Property Features for 945 Mill Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    B05-035-0-0003-01, **See Remarks
    Size
    23,000 SF
    Lot size
    3.30 Acres

    Utilities

    Heating system
    Baseboard
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1922
    Roof type
    Aluminum
    Architectural style
    Other

    We can help!

    Listing Contact
    Chelsey Jones

    Sluss Realty Co. (419) 529-3047

    Listing agent Chelsey Jones (419) 529-3047

    Listing date Feb 3, 2026

    MLS# 9060190 Listing URL

    Copyright © 2026 Mansfield Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Unique Industrial Property in Loudonville

    The industrial property at 945 Mill Road, Loudonville, OH, is situated on 3.3 acres. It features a six-story concrete and steel factory building, formerly used as a flour mill, with an attached office space offering various potential uses. A large grain silo is also located on the property. The property is equipped with heavy-duty three-phase electrical power. With a building size of 23000 square feet, this property presents a unique opportunity for investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ardent Mills, LLC Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Loudonville
    County
    Ashland
    State
    Ohio
    Longitude
    -82.241332
    Latitude
    40.644551

    Nearby Similar for Sale

    • New
      $1,990,000
      1,536 SF

      Unique Recreational Farm on Two Rivers

      113-acre farm with river frontage near Mohican State Park.
      6620 Township Road 451, Loudonville, OH 44654
      View Details
    • $285,000
      4,847 SF

      Loudonville Mixed-Use Investment Property

      Mixed-use property with commercial unit and four residential apartments.
      435 Haskell St, Loudonville, OH 44842
      View Details
    • $289,900

      Mixed-Use Investment Property For Sale

      Mixed-use property with commercial unit and four apartments, updated in 2023.
      435 E Haskell St, Loudonville, OH 44842
      View Details
    • $265,000
      3,660 SF

      Loudonville Mixed-Use Property

      1.69 Acres, 3660 sq ft, Great Potential
      16531 State Route 3, Loudonville, OH 44842
      View Details
    • $230,000

      Unique Industrial Property with Silo

      Six-story factory with office space and grain silo on 3.3 acres.
      945 Mill Rd, Loudonville, OH 44842
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - Six-story factory with office space and grain silo.
    Where is this manufacturing property located?
    The property is located at 945 Mill Rd Loudonville, OH.
    What is the asking price?
    The asking price for this property is $230,000.
    What are key features of this property?
    This property features: - Expansive six-story concrete and steel factory building.; - Large 3.3-acre property.; - Additional attached office space.
    (606) 422-9113
    Request Owner's contact information
    945 Mill Rd Loudonville, OH 44842
    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.
    945 Mill Rd
    Loudonville, OH 44842
    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
    945 Mill Rd Loudonville, OH 44842
    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

    We can help!
    Listing Contact
    Chelsey Jones
    (606) 422-9113 (419) 529-3047
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!