Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    123 Michigan Ave Edgerton, OH 43517-9322

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    123 Michigan Ave Edgerton, OH 43517-9322

    View on Map
    • Retail space
    • 2,860 SF
    • 0.08 lot acres
    Off-Market
    Last Sale Apr 3, 2024
    $108,700
    Property ID
    US66-3142925
    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

    • Retail space

    Property Details for 123 Michigan Ave

    Year built
    1920
    Lot size
    0.08 lot acres
    Property size
    2,860 SF
    Property type
    Retail space
    APN
    061-280-04-021.000
    APU
    6128004021000

    Description

    This exceptional single-tenant property, located at 123 N Michigan Ave in Edgerton, Ohio (zip code 43517), offers 1,300 to 1,600 square feet of versatile space ideal for retail or creative office use. Situated in the heart of downtown Edgerton, this historically preserved building is renowned for its unique character and charm. Features include original tiger oak cabinetry, real wood floors, and a distinctive tin roof, creating a captivating atmosphere. The property is served by City of Edgerton power. The exact square footage may vary slightly depending on the inclusion of cabinetry in the measurement. This property presents a rare opportunity to lease (with potential for lease-to-own options) a truly distinctive space in a thriving Ohio community. Lease terms are negotiable and adaptable to the tenant's specific needs and preferences. The property is classified as both retail and office space, making it suitable for a wide range of businesses. Its central location within the Edgerton submarket, part of the Bryan, Ohio submarket cluster, ensures excellent visibility and accessibility. This is a chance to secure a unique and historically significant commercial space in a desirable location.

    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
    Edgerton
    County
    Williams
    State
    Ohio
    Longitude
    -84.7485
    Latitude
    41.4491

    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
    $881
    $2,660
    $12,290
    $14,950
    -
    $7,600
    $35,100
    $42,700

    Comparable in this City

    • Value Estimation by Request
      1,902 SF

      108 Vine St

      RETAIL STORES (PERSONAL SERVICES) • 1,902 SF
      108 Vine St, Edgerton, OH 43517-8606
      View Details
    • Value Estimation by Request
      4,680 SF

      163 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,680 SF
      163 Michigan Ave, Edgerton, OH 43517-9322
      View Details
    • Value Estimation by Request
      1,760 SF

      3392 State Rte 49

      RETAIL STORES (PERSONAL SERVICES) • 1,760 SF
      3392 State Rte 49, Edgerton, OH 43517
      View Details
    • Value Estimation by Request
      1,380 SF

      113 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,380 SF
      113 Michigan Ave, Edgerton, OH 43517-9322
      View Details
    • Value Estimation by Request
      4,340 SF

      141 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,340 SF
      141 Michigan Ave, Edgerton, OH 43517-9322
      View Details
    • Value Estimation by Request
      4,240 SF

      144 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,240 SF
      144 Michigan Ave, Edgerton, OH 43517-9393
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,102 SF

      Former Medical Clinic For Sale

      3,102 SF former medical clinic with ample parking.
      104 N West St, Edgerton, OH 43517
      View Details
    • $520,000

      Specialty Property with Updated Systems

      Specialty property featuring updated HVAC, boiler, and roof systems.
      264 E Bement St, Edgerton, OH 43517
      View Details
    • Contact for pricing

      28,800 SF Industrial Warehouse

      Industrial warehouse with finished office and outside storage potential.
      118 Industrial Dr, Edgerton, OH 43517
      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.
    123 Michigan Ave
    Edgerton, OH 43517-9322
    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.
    Sign Up Successful!
    You now have access to more from Realmo!