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

    0 Walker Lake Road Ontario, OH 44906

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,500,000

    10 acres of commercial land with utilities and traffic light.

    Lot size:
    10.00 Acres
    Added:
    Jun 24, 2024
    Days on Market:
    667
    Last Refresh:
    Apr 1 at 8:26 pm

    Property Features for 0 Walker Lake Road

    General Information

    Standard status
    Active
    Lot size
    10.00 Acres
    Property subtype
    Other

    We can help!

    Listing Contact
    Chris Trease

    Listing agent Chris Trease

    Listing office Key Realty

    Listing date Jun 24, 2024

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Key Realty

    Overview

    Prime Commercial Land Opportunity

    This commercial property offers a development opportunity on 10 acres with traffic light access and available public utilities. The parcel is located approximately 0.75 miles from the Route 30 interchange and 10 miles from Interstate 71. Situated in Ontario, Ohio, the property is zoned B2, allowing for various potential uses. Mansfield Lahm Regional Airport is located nearby. Additional parcels including a house, stocked pond, and 5 acres are available separately.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Ontario
    County
    Richland
    State
    Ohio
    Longitude
    -82.5716653
    Latitude
    40.7863637

    Nearby Similar for Sale

    • $3,200
      4,008 SF

      Ontario, OH Office/Retail Space

      Prime 4,008 SF office or retail space for lease.
      1655 W. 4th St., Ontario, OH 44906
      View Details
    • $799,900
      1,924 SF

      Ontario, OH Commercial Land

      5-acre commercial B2 zoned land near shopping hub.
      1980 Walker Lake Road, Ontario, OH 44906
      View Details
    • $44,700

      Ontario, OH Homesite Opportunity

      Exceptional homesite suitable for a walkout lower level ranch.
      1721 Scarletts Way, Ontario, OH 44906
      View Details
    • $48,900

      Ontario Homesite for Custom Build

      Exceptional Ontario homesite suited for a ranch-style home.
      1711 Scarletts Way, Ontario, OH 44906
      View Details
    • $39,000

      Vacant Corner Lot in Ontario

      Corner lot near shopping and restaurants with public utilities.
      3308 Park Avenue West, Ontario, OH 44906
      View Details
    • $39,900

      Ontario, OH Acreage For Sale

      One-acre corner lot in Ontario Schools, partially cleared, driveway in.
      3516 Muirfield Drive, Ontario, OH 44906
      View Details
    • $219,900

      9.9 Acres Wooded Land

      9.9 acres of wooded land in Lexington School District.
      OH-314, Ontario, OH 44903
      View Details
    • $875,000
      7,200 SF

      Retail/Flex Building on Large Lot

      7,200 SF retail/flex building on 7.53 acres for sale.
      653 Home Rd N, Ontario, OH
      View Details
    • $3,500,000

      Prime Commercial Land Opportunity

      10 acres of B2 zoned land with utilities.
      2005 Walker Lake Rd, Ontario, OH
      View Details
    • $3,500,000

      Prime Commercial Development Opportunity

      10 acres of B2 zoned land with utilities available.
      0 Walker Lake Road, Ontario, OH 44906
      View Details

    FAQs

    What type of property is this?
    Commercial land - 10 acres of commercial land with utilities and traffic light.
    Where is this commercial land located?
    The property is located at 0 Walker Lake Road Ontario, OH.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Prime commercial development opportunity on 10 acres with traffic light access.; All public utilities are available on the lot.; Located 3/4 mile from Route 30 interchange and 10 miles from Interstate 71.
    (877) 539-7589
    We can help!
    Listing Contact
    Chris Trease
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!