Technical
Financial
Distress signals
Property profile

1150 Milan Ave Amherst, OH 44001

OFF-MARKET
Commercial land
Property ID
US66-1757579
2.95 ac lot
Individually Owned 4-yr Hold Free & Clear
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 56.96-acre parcel in Amherst, Ohio, presents a unique opportunity for residential development. Located at 1150 Milan Ave, Amherst, OH 44001, this property boasts flexible zoning, allowing for a mix of single-family homes and multi-family apartments. The land is free and clear, with APN numbers 0500004103018, 0500004102006, 0500004102004, 0500004102005, 0500004101009, 0500004101006, and 0500004101005. While not currently serviced by city water and sewer, these utilities are readily accessible along Milan Avenue to the north and in nearby subdivisions to the east, with the city confirming sufficient capacity for residential development. The property benefits from excellent access to Ohio Route 2 and Interstate 80, and its development aligns with both the city's and seller's objectives, ensuring a cooperative and streamlined process. The Amherst school district is highly rated, adding significant appeal to potential residents. This is a rare opportunity to create a first-rate residential community in a desirable location with minimal infrastructure costs due to the proximity of utilities. The property is situated in Lorain County.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 2.95 ac (128,502 SF)
APN 05-00-004-102-004
UPID US66-1757579

Cap rate & NOI

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

Location

1150 Milan Ave Amherst, OH 44001-1320
Amherst metro Census 50301 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$245k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$245k

Owner & transaction history

since 2022
1 recorded transaction
2022
Price N/A

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
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1150 Milan Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
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