Property profile

166 Milan Ave Norwalk, OH 44857

OFF-MARKET
Office buildings
Property ID
US66-2761442
3,600 SF 1.29 ac lot Built 1956
Individually Owned 7-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 1,000 square foot office space is available for sublease at 166 Milan Avenue in Norwalk, Ohio. Situated on a 1.29-acre lot, this property boasts high visibility and excellent accessibility with two curb cuts, catering to a daily traffic count of 12,283 vehicles. The lease includes all property taxes, insurance, maintenance, and utilities, simplifying budgeting and operational costs. The space features five handicap-accessible offices currently undergoing renovations, providing a modern and inclusive work environment. Shared amenities include a conference room, breakroom, and restrooms, enhancing convenience and collaboration. A private entrance and integrated security and sprinkler systems ensure safety and peace of mind. The current rental price is $2000, but is negotiable depending on the tenant's space requirements. A large open space at the rear of the building may be included in the lease agreement. This build-to-suite option offers flexibility for businesses seeking to customize their workspace. Located in the heart of Huron County, this property offers an ideal location for businesses seeking high visibility and convenient access. The November 2024 update includes the possibility of including a large open space in the back of the building as part of the lease.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1956
Total area 3,600 SF
Lot 1.29 ac (56,192 SF)
APN 33-0290-03-001-0000
UPID US66-2761442

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Gas Company
  • Computer & Electronic Repair

Location

166 Milan Ave Norwalk, OH 44857-1146
Norwalk metro Census 915500 NORWALK, OH MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$343k
Blend (final) Blend
$285k

Owner & transaction history

since 2019
1 recorded transaction
2019
Price N/A

Zoning & alternative use

Top alternative use upside
Commercial (general) $355,000 +31.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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