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    Two-Story Medical and Fitness Building Title is generated by Realmo AI

    1245 Glen Drive, Millersburg, OH 44654

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    For Sale
    $1,200,000

    COMMERCIAL - Millersburg, OH

    Property size:
    16,000 SF
    Lot size:
    1.31 Acres
    Price / SF:
    $75/SF
    Added:
    Mar 4, 2026
    Days on Market:
    93
    Last Refresh:
    Jun 4 at 11:06 pm

    Property Features for 1245 Glen Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active
    APN
    07-01655-025
    Lot size
    1.31 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    18762

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    2004

    We can help!

    Listing Contact
    Jon Mast

    Listing agent Jon Mast License #2001016484

    Listing office Howard Hanna Real Estate Services 4146 Burbank Rd, Wooster, OH

    Listing date Mar 4, 2026

    MLS# 5189387

    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.

    HighLights

    • 16,000 SF, 2‑story building (6,000 SF upper; 10,000 SF lower) currently configured for medical offices and a gym
    • Separate entrances from two concrete parking lots, with both lots providing access to Glen Drive
    • Upper level: medical office space set up for multiple tenants with shared common space; currently used for chiropractic offices
    • Lower level: 10,000 SF gym space with its own entrance and concrete parking lot access
    • Construction features include split face concrete block and a standing seam steel roof
    • Forced air heating with natural gas

    Overview

    The property is a two-story commercial building totaling 16,000 sq. ft., built with split-face concrete block construction and a standing seam steel roof. The upper level provides 6,000 sq. ft. of medical office space configured for chiropractic use, with options for multiple tenants in a shared common area. The lower level is approximately 10,000 sq. ft. and is currently operated as a gym.

    Both floors have separate entrances off their own concrete parking lots, allowing independent access for upper- and lower-level users. The parking lots each have access to Glen Drive, supporting straightforward arrivals and pick-up/drop-off for daily operations.

    While the building is currently used as a medical facility and gym, the described layout and finishes provide flexibility for other commercial uses. The two separate levels with independent entrances and parking can support tenant separation, mixed-use operations, or repurposing by an owner-operator seeking a building that can accommodate different program requirements within the same structure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

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

    Similar Places Nearby

    • Wolf Creek Veterinarian Services — 333 Parkview Dr, Millersburg, OH 44654
    • Wolf Creek Veterinary Services- Mary Uhl DVM — 333 Parkview Dr, Millersburg, OH 44654
    • Wolf Creek Veterinary Services-Dr. Mary Uhl — 333 Parkview Dr, Millersburg, OH 44654

    Location Insight

    • Map
    • Local Demand
    City
    Millersburg
    County
    Holmes
    State
    Ohio
    Longitude
    -81.914258
    Latitude
    40.541822

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    FAQs

    What type of property is this?
    Medical Office Space - Two-level building with separate entrances and parking supporting medical offices on top and gym use below.
    Where is this medical office space located?
    The property is located at 1245 Glen Drive Millersburg, OH.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 16,000 SF, 2‑story building (6,000 SF upper; 10,000 SF lower) currently configured for medical offices and a gym; Separate entrances from two concrete parking lots, with both lots providing access to Glen Drive; Upper level: medical office space set up for multiple tenants with shared common space; currently used for chiropractic offices
    (330) 763-3883
    We can help!
    Listing Contact
    Jon Mast
    Real Estate License ID: 2001016484
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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.

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