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Property profile & analytics
OFF-MARKET
Commercial land

1150 Milan Ave Amherst, OH 44001-1320

2.95 ac lot
Individually Owned 3-yr Hold Free & Clear
Property ID
US66-1757579
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Samuel Bartlett JR · 3 yrs held
Samuel Bartlett JR
since 2022
1 recorded transaction
2022
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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