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    1241 Monroe NW St New Philadelphia, OH 44663-4139
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    Property profile & analytics

    1241 Monroe NW St, New Philadelphia, OH 44663-4139

    View on Map
    • Super regional malls
    • 24,491 SF
    • 2.03 lot acres
    Off-Market
    Property ID
    US66-1175270
    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
    $1,765,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 1241 Monroe NW St

    Year built
    1975
    Lot size
    2.03 lot acres
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    43-06965.002
    APU
    4306965002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 2, 2022 — Monroe Plaza Oh LLC — Deed · related $816k · Tri-county Bank & Trust Co
    Dec 11, 2018 $900,000 Monroe Plaza Oh LLC Bruening Shepler Associates INC Warranty Deed $630k · The Commercial & Savings Bank
    Dec 18, 2008 — Bruening Shepler Associates INC Bruening Shepler Associates INC Warranty Deed $3.8M · The Huntington National Bank

    Description

    This exceptional 1,300 square foot retail space, located at 1241 Monroe NW in New Philadelphia, Ohio, presents a fantastic leasing opportunity. Situated on a 2.034-acre lot, this single-story, Class B building was constructed in 1975 and offers a versatile layout ideal for a variety of businesses. The space includes a welcoming reception room, a comfortable waiting area, four private offices perfect for individual work or small teams, a spacious open bullpen area for collaborative work, a convenient breakroom, two restrooms, and ample storage. The property's convenient location in Tuscarawas County (APN 4306965002) provides excellent visibility and accessibility. A Net, Net, Net (NNN) lease is available at a rate of $2.95 per square foot per year, totaling $319.58 per month. This NNN fee encompasses real estate taxes, insurance, snow removal and salting, landscaping, exterior window maintenance, security lighting, and trash removal. The total monthly rent, inclusive of the NNN fee, is $1,294.58, plus utilities. This property is ready for immediate occupancy and offers a cost-effective solution for businesses seeking a well-maintained and functional space in a desirable location. The zip code is 44663.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,870,000
      AUTO REPAIR, GARAGE
      $2,815,000
      OFFICE BUILDING
      $2,555,000
      RESTAURANT
      $2,480,000
      MEDICAL BUILDING
      $2,300,000
      RETAIL STORES
      $2,095,000
      INDUSTRIAL (GENERAL)
      $1,870,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Philadelphia
    County
    Tuscarawas
    State
    Ohio
    Longitude
    -81.4564
    Latitude
    40.5061
    CBSA code
    35420
    CBSA name
    NEW PHILADELPHIA-DOVER, 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
    $15,307
    $81,360
    $855,940
    $937,300
    -
    $81,360
    $855,940
    $937,300

    Comparable in this City

    • Value Estimation
      $1,760,000
      3.54 Acres

      400 Ml SE Ave, Unit 1

      REGIONAL SHOPPING CENTER, MALL
      400 Ml SE Ave, New Philadelphia, OH 44663-3875
      View Details
    • Value Estimation
      $9,525,000
      50,400 SF

      Sese Ml Ave

      REGIONAL SHOPPING CENTER, MALL
      Sese Ml Ave, New Philadelphia, OH 44663
      View Details
    • Value Estimation by Request
      2.95 Acres

      Sese Ml Ave

      REGIONAL SHOPPING CENTER, MALL
      Sese Ml Ave, New Philadelphia, OH 44663
      View Details
    • Value Estimation
      $9,995,000
      520,402 SF

      400 Ml SE Ave, Unit 1

      REGIONAL SHOPPING CENTER, MALL
      400 Ml SE Ave, New Philadelphia, OH 44663-3875
      View Details
    • Value Estimation
      $6,475,000
      89,184 SF

      1260 Monroe St Nw Ste 25l

      REGIONAL SHOPPING CENTER, MALL
      1260 Monroe St Nw Ste 25l, New Philadelphia, OH 44663-4147
      View Details
    • Value Estimation by Request
      3.09 Acres

      400 Ml SE Ave, Unit 1

      REGIONAL SHOPPING CENTER, MALL
      400 Ml SE Ave, New Philadelphia, OH 44663-3875
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      62,088 SF

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      Retail property with national tenants, freeway access, and outlot potential.
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    • $899,900
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      Profitable Restaurant in New Philadelphia

      Turn-key restaurant with D-1 liquor license in high-traffic location.
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      Thriving Restaurant and Bar Opportunity

      Well-maintained restaurant and bar with expansion potential in New Philadelphia.
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      13,200 SF

      Mixed-Use Investment Opportunity

      Retail, office, and warehouse spaces available for lease or sale.
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    • $1,700,000

      Ohio Hotel & House Package

      Profitable Hotel, 3-Bedroom Home Included
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    Similar Nearby for Lease

    • $1,853 /Mo
      314,242 SF

      Versatile Retail Space Available

      4,680 SF retail space in a high-traffic business hub.
      1260 Monroe St NW, New Philadelphia, OH 44663
      View Details
    • New
      Contact for pricing
      4,000 SF

      Divisible Retail Space with Drive-Through

      Retail building with inline space and a site suited to drive-through operations, available for lease.
      324 Bluebell Dr NW, New Philadelphia, OH 44663
      View Details
    • $10 SF/Yr

      Established Shopping Plaza in New Philadelphia

      Professionally managed plaza with ample parking in a convenient location.
      1239 Monroe St Northwest, New Philadelphia, OH 44663
      View Details
    • Contact for pricing

      Monroe Plaza Retail and Office

      Professionally managed plaza with convenient location and ample parking.
      1257-1309 Monroe St NW New Philadelphia, New Philadelphia, OH 44663
      View Details
    • Contact for pricing

      Retail Space in New Philadelphia

      Retail space available in a desirable Ohio market.
      324 Bluebell Dr NW, New Philadelphia, OH 44663
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in New Philadelphia

      3,000 SF retail space available in New Philadelphia, Ohio.
      240-408 Bluebell Dr NW, New Philadelphia, OH 44663
      View Details
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    New Philadelphia, OH 44663-4139
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    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
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