Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1604 Walker Lake Rd, Unit 5 Ontario, OH 44906
    Back to Search
    Property profile & analytics

    1604 Walker Lake Rd, Unit 5, Ontario, OH 44906

    View on Map
    • Office buildings
    • 2,400 SF
    • 0.92 lot acres
    For Sale
    View Listing →
    Ontario Office Space For Sale For Sale
    Contact for pricing

    Ontario Office Space For Sale

    Office space for sale in Walker Lake Professional Suites.

    1604 Walker Lake Rd Suite 5, Ontario, OH 44906
    View Listing
    Property ID
    US66-1369317
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1604 Walker Lake Rd

    Year built
    1970
    Lot size
    0.92 lot acres
    Property type
    Office buildings
    APN
    038-60-185-15-000
    APU
    386018515000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 31, 2021 — B & S Property Services LLC — Deed · related $371k · First Federal Community Bank
    Aug 26, 2021 — B&s Property Services LLC Richland Partners LLC Warranty Deed —
    Nov 16, 2020 — Richland Partners LLC Renovate 1st LLC Warranty Deed $100k · First Federal Community Bank
    Apr 5, 2018 $275,000 Renovate 1st LLC Mansfield Maintence Services INC Co Warranty Deed $150k · Mansfield Maintenance Service INC
    Mar 3, 2005 — Mansfield Maintenance Service INC Mark A Weidemyre Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ontario
    County
    Richland
    State
    Ohio
    Longitude
    -82.5715
    Latitude
    40.7864
    CBSA code
    31900
    CBSA name
    MANSFIELD, OH METROPOLITAN 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
    $5,598
    $9,660
    $71,620
    $81,280
    -
    $27,600
    $204,640
    $232,240

    Comparable in this City

    • Value Estimation
      $2,085,000
      47,766 SF

      900 Springmill St

      OFFICE BUILDING (MULTI-STORY)
      900 Springmill St, Mansfield, OH 44906-2055
      View Details
    • Value Estimation by Request
      4,134 SF

      1456 Park W Ave

      OFFICE BUILDING (MULTI-STORY)
      1456 Park W Ave, Ontario, OH 44906-2700
      View Details
    • Value Estimation by Request
      3,632 SF

      2250 Vlg Mall Dr

      OFFICE BUILDING (MULTI-STORY)
      2250 Vlg Mall Dr, Ontario, OH 44906-1151
      View Details
    • Value Estimation
      $865,000
      9,553 SF

      2264 Vlg Mall Dr

      OFFICE BUILDING (MULTI-STORY)
      2264 Vlg Mall Dr, Ontario, OH 44906-1151
      View Details
    • Value Estimation
      $700,000
      5,340 SF

      615 Bally Row

      OFFICE BUILDING (MULTI-STORY)
      615 Bally Row, Mansfield, OH 44906-2967
      View Details
    • Value Estimation by Request
      1,056 SF

      990 4th St

      OFFICE BUILDING (MULTI-STORY)
      990 4th St, Ontario, OH 44906-2537
      View Details

    Similar Nearby for Sale

    • New
      $356,900
      2,400 SF

      Ontario Commercial Building For Sale

      Professional building in Ontario, ideal for office or retail.
      25 Lexington Springmill Rd, Mansfield, OH 44906
      View Details
    • $1,300,000
      35,410 SF

      Mansfield Redevelopment Opportunity

      Multi-parcel commercial redevelopment with income potential in Mansfield, OH.
      788800 Park Ave W, Mansfield, OH 44906
      View Details
    • New
      $130,000
      2.80 Acres

      Prime Commercial Land for Development

      2.8 acres of commercial land suitable for development.
      1120 Aspira Ct, Mansfield, OH 44906
      View Details
    • Contact for pricing
      Pending

      Versatile Commercial Space in Mansfield

      18,000 sq ft commercial space suitable for various businesses.
      850 W 4Th St, Mansfield, OH 44906
      View Details
    • Contact for pricing
      4,008 SF

      Prime Ontario Commercial Space Available

      Office or retail space in a great location.
      1655 W 4Th St, Ontario, OH 44906
      View Details
    • $149,900

      Mansfield Commercial Land, OH

      3.62 Acres, High Visibility Location
      0 Bally Row, Mansfield, OH 44906
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,000 SF

      Retail or Office Space Available

      15,000 SF of Class B retail or office space.
      2300 W 4Th St, Ontario, OH 44906
      View Details
    • Contact for pricing
      1,550 SF

      Retail Space Near Home Depot

      Retail space shadow-anchored by The Home Depot available for lease.
      2006-2032 August Dr, Ontario, OH 44906
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space Available For Rent

      Retail space available for lease with 1,400 square feet.
      25 Briggs Dr, Ontario, OH 44906
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Mansfield, OH

      Retail space available for lease in Mansfield, Ohio.
      311 N Lexington Springmill Rd, Mansfield, OH 44906
      View Details
    • Contact for pricing
      2,916 SF

      Former Bank Space For Lease

      2,916 SF former bank space available for lease.
      2281 W 4Th St, Ontario, OH 44906
      View Details
    • Contact for pricing
      1,660 SF

      Retail Space in Ontario, OH

      Retail space available in a convenient Ontario, OH location.
      795-805 N Lexington Springmill Rd, Ontario, OH 44906
      View Details
    View Listing
    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.
    1604 Walker Lake Rd, Unit 5
    Ontario, OH 44906
    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

    Thank You for Inquiry
    1604 Walker Lake Rd, Ontario, OH, 44906
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!