Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    10283 Us Route 224 Findlay, OH 45840

    • Retail properties
    • 10,800 SF
    • 4.73 lot acres
    For Sale
    View listing
    $550,000
    Last Sale
    Dec 28, 2022
    $225,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3189502
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail properties

    Property Details for 10283 Us Route 224

    Year built
    1929
    Construction
    STEEL FRAME
    Lot size
    4.73 lot acres
    Property size
    10,800 SF
    Property type
    Retail properties
    APN
    280001011113
    APU
    280001011113

    Description

    This exceptional commercial property, located at 10283 W US Route 224 Unit 10283 in Findlay, Ohio, presents a unique investment opportunity. Currently operating as a successful furniture store, the building boasts a versatile layout incorporating both office space and multiple showrooms, ideal for a variety of retail or commercial uses. The property sits on a substantial 4.72-acre lot, providing ample space for expansion or additional parking. Significant recent improvements include a completely replaced roof and HVAC system, ensuring low maintenance costs and operational efficiency for the new owner. The building benefits from excellent visibility and high traffic counts due to its strategic location on US Route 224, guaranteeing significant exposure to potential customers. This turnkey operation offers immediate income potential and the flexibility to adapt the space to suit diverse business needs. The asking price is $550,000. Serious inquiries are encouraged to explore this promising commercial real estate investment. The square footage will be provided upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Findlay
    County
    Hancock
    State
    Ohio
    Longitude
    -83.6827
    Latitude
    41.0578
    CBSA code
    22300
    CBSA name
    FINDLAY, OH MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,556
    $43,310
    $18,110
    $61,420
    -
    $123,750
    $51,730
    $175,480

    Comparable in this City

    • Value Estimation
      $5,645,000
      158,400 SF

      15110 Flag City Dr

      DEPARTMENT STORE • 158,400 SF
      15110 Flag City Dr, Findlay, OH 45840-8896
      View Details
    • Value Estimation
      $940,000
      24,420 SF

      10320 Us Rte 224

      DEPARTMENT STORE • 24,420 SF
      10320 Us Rte 224, Findlay, OH 45840-1934
      View Details
    • Value Estimation
      $925,000
      11,984 SF

      2250 Tiffin Ave

      DEPARTMENT STORE • 11,984 SF
      2250 Tiffin Ave, Findlay, OH 45840-9505
      View Details
    • Value Estimation
      $2,220,000
      58,750 SF

      10300 Us Rte 224

      DEPARTMENT STORE • 58,750 SF
      10300 Us Rte 224, Findlay, OH 45840-1934
      View Details
    • Value Estimation
      $7,315,000
      139,392 SF

      1077 Bright Rd

      DEPARTMENT STORE • 139,392 SF
      1077 Bright Rd, Findlay, OH 45840-6978
      View Details
    • Value Estimation by Request
      23,709 SF

      7521 Patriot Dr

      Restaurants • 23,709 SF
      7521 Patriot Dr, Findlay, OH 45840
      View Details

    Similar Nearby for Sale

    • $1,900,000
      26,116 SF

      Established Retail Center on Major Corridor

      High-visibility retail center with strong tenant mix and redevelopment potential.
      1016 Tiffin Ave, Findlay, OH 45840
      View Details
    • $899,000

      Retail Property with Included Inventory

      Retail property for sale with existing business and included inventory.
      10283 W Us Route 224, Findlay, OH 45840
      View Details
    • $309,900

      Remodeled Building on Tiffin Avenue

      Remodeled commercial building with parking in high-traffic location.
      1019 Tiffin Ave, Findlay, OH 45840
      View Details
    • $1,480,000

      High-Traffic Commercial Building For Sale

      12-unit commercial building in high-traffic area with investment potential.
      1100 Croy Dr, Findlay, OH 45840
      View Details
    • $425,000

      Former Gas Station Near University

      Former gas station and convenience store, great location near university.
      1303 Main St, Findlay, OH 45840
      View Details
    • $39,900

      Findlay Residential Land - $39,900

      Prime Findlay land, R4 zoning, great investment.
      0 Park St, Findlay, OH 45840
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,000 SF

      Findlay Retail Space - 7000 SF

      High-visibility Findlay retail space, 7000 sq ft.
      707 Blanchard St, Findlay, OH 45840
      View Details
    • $10 SF/Yr
      10,000 SF

      Findlay Industrial Space For Lease

      10,000 SF Flex Warehouse, Ohio
      11600 County Road 99, Findlay, OH 45840
      View Details
    • Contact for pricing
      9,989 SF

      Findlay Retail Strip Center

      High-Visibility Retail Space Available
      1500 Main St, Findlay, OH 45840
      View Details
    • Contact for pricing
      3,462 SF

      Retail Space in Prime Location

      Retail space in Findlay's premier retail corridor, near University.
      2205 Tiffin Ave, Findlay, OH 45840
      View Details
    • Contact for pricing
      40,000 SF

      Proposed Retail Center in Findlay

      Proposed 75,000 sq. ft. neighborhood retail center.
      45840 Usa, Findlay, OH 45840
      View Details
    • $15 SF/Yr
      23,709 SF

      Patriot Plaza: Findlay Office Space

      Findlay Office Suites - 3,000 sq ft Available
      7521 Patriot Dr, Findlay, OH 45840
      View Details
    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.
    10283 Us Route 224
    Findlay, OH 45840
    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.