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    Versatile Commercial Property in Monroeville Title is generated by Realmo AI

    19 Fort Monroe Parkway, Monroeville, OH 44847

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    Claim this Listing
    For Sale
    $2,300,000

    COMMERCIAL - Monroeville, OH

    Lot size:
    3.00 Acres
    Added:
    Jun 25, 2025
    Days on Market:
    326
    Last Refresh:
    May 16 at 12:06 pm

    Property Features for 19 Fort Monroe Parkway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    42-0040-05-019-0000
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    SEC 4 GL 10, 15 & OL 47, 4823 AC CORR23 COMB/W 42-045A-01-002-0600 & 001-0300
    Tax Annual Amount
    2401

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Radiant
    Cooling system
    ENERGY STAR Qualified Equipment, Central Air
    Water source
    Public

    Building Details

    Year built
    2024
    Floors in Building
    1
    Roof type
    Aluminum

    We can help!

    Listing Contact
    Trista E Tharp
    Trista E Tharp

    Listing agent Trista E Tharp License #2015005494

    Listing office Russell Real Estate Services 201 N Leavitt Road, Strongsville, OH

    Listing date Jun 25, 2025

    MLS# 5134365

    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

    • Versatile 11,250 sq ft space suitable for office or light industrial use.
    • Radiant heat extends to parking areas, forced‑air central air in office areas.
    • Features three 14‑foot high overhead doors with openers and robust 3‑phase electric service.
    • Newly built in 2024 with a durable metal standing seam roof and Energy Star efficiency.
    • Situated on approximately 3 acres with significant development potential.
    • Equipped with essential utilities, ADA‑compliant reception area, two bathrooms in the office area, a kitchenette, and additional bathrooms and a mechanical room on the shop floor.

    Overview

    Located at 19 Fort Monroe Parkway in Monroeville, this newly built commercial property offers approximately 11,250 square feet of versatile space suitable for office or light industrial applications. The building is equipped with electric, gas, water, and sewer utilities. A climate control system features a dual mini-split system and radiant heat extending to parking areas, along with forced-air central air in the office areas. The interior includes an ADA-compliant reception area, two bathrooms, adaptable spaces for offices or small conference rooms, and a kitchenette, all designed for Energy Star efficiency. The property features a durable metal standing seam roof with a 30ft eve on the low side and a 31'6" back, along with three 14-foot high overhead doors with openers. It also includes robust 3-phase electric service. The shop floor includes two additional bathrooms and a mechanical room. The building is suited for installation of a 10 ton overhead crane. Zoned for Commercial, Industrial, and Agricultural use, the property offers development potential with a lot split, encompassing approximately 3 acres with the existing building. An additional 5 vacant acres for future expansion or multi-tenant opportunities can be discussed. It is suited for light industrial and manufacturing, warehousing and distribution centers, contractor and automotive service companies, as well as agricultural-related businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Auto Parts Store HVAC Service Storage Facility Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroeville
    County
    Huron
    State
    Ohio
    Longitude
    -82.714336
    Latitude
    41.250054

    FAQs

    What type of property is this?
    Manufacturing property - New commercial property with versatile space, ideal for various businesses.
    Where is this manufacturing property located?
    The property is located at 19 Fort Monroe Parkway Monroeville, OH.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Versatile 11,250 sq ft space suitable for office or light industrial use.; Radiant heat extends to parking areas, forced‑air central air in office areas.; Features three 14‑foot high overhead doors with openers and robust 3‑phase electric service.
    (440) 452-9117
    We can help!
    Listing Contact
    Trista E Tharp
    Trista E Tharp
    Real Estate License ID: 2015005494
    Learn More
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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
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