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    The Largest CRE Database in the US with Over 1 Million Listings

    9505 Milan Rd Milan, OH 44846

    Sponsored
    For Sale
    Pending
    $299,000

    SINGLE_FAMILY - Milan, OH

    Type:Retail
    Lot size:
    0.94 Acres
    Days on Market:
    9
    Last Refresh:
    Jan 23 at 4:06 pm

    Property Features for 9505 Milan Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential
    Property subtype
    Retail
    TransactionType
    Standard
    Standard status
    Pending
    APN
    52-00018-002
    Parking
    60
    Parking features
    Parking Lot
    Lot size
    0.94 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Propane (Heating)
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1997
    Floors in Building
    1
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Jennifer R Craig

    Russell Real Estate Services (440) 268-9491

    Listing agent Jennifer R Craig (419) 656-1105 License #2002022180

    Listing date Jan 15, 2026

    MLS# 5174675

    Copyright © 2026 MLS Now. 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

    Commercial Property on High-Visibility Corridor

    This commercial property is located on Milan Road/US 250, along one of the area's highest-visibility corridors. Situated on nearly one acre, the site offers flexibility for various commercial uses and space for future expansion. The property includes the main building plus four additional structures, providing space for storage, operations, or equipment. Generous parking capacity supports customer traffic, employee parking, and commercial vehicles. The location is minutes from historic Milan Square, Kalahari Resorts, the Ohio Turnpike, and nearby shopping, dining, and the Sandusky/Lake Erie region. High-traffic visibility along Milan Road/US 250 makes this property suitable for businesses seeking frontage in a commercial area. The sale is for real estate only, excluding the business, name, equipment/supplies, inventory, and all operations. The lot size is 0.9398 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sbu250 Shed Builder

    Suggested Use

    Realty agency Wholesale Shop Building Supply Food Market Grocery Store Garden Center Discount Store Travel Agency Nursing Home Assisted Living Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Milan
    County
    Erie
    State
    Ohio
    Longitude
    -82.633995
    Latitude
    41.353171

    Nearby Similar for Sale

    • $990,000
      18.00 Acres

      Milan Road Commercial Land & Building

      18+ Acres, Commercial Zoning, High Visibility
      11004 Milan Rd, Milan, OH 44846
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime commercial opportunity with high visibility and expansion potential.
    Where is this retail property located?
    The property is located at 9505 Milan Rd Milan, OH.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Prime location on high-visibility Milan Road/US 250.; - Nearly one acre of land with space for future expansion.; - Main building plus four additional structures.
    (419) 656-1105
    Request Owner's contact information
    9505 Milan Rd Milan, OH 44846
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    Milan, OH 44846
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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
    9505 Milan Rd Milan, OH 44846
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    We can help!
    Listing Contact
    Jennifer R Craig
    Real Estate License ID: 2002022180
    (419) 656-1105
    Learn more
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