Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1494 Park W Ave Ontario, OH 44906-2719
    Back to Search
    Property profile & analytics

    1494 Park W Ave Ontario, OH 44906-2719

    View on Map
    • Investment properties
    • 3,296 SF
    • 0.51 lot acres
    Off-Market
    Last Sale Feb 20, 2025
    $284,900
    Property ID
    US66-2195913
    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

    • Investment properties

    Property Details for 1494 Park W Ave

    Year built
    1970
    Lot size
    0.51 lot acres
    Property size
    3,296 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    027-03-132-06-000
    APU
    270313206000

    Description

    This exceptional mixed-use property in Ontario, OH, presents a compelling investment opportunity. Located at 1494 Park Avenue W, this 3,296 square foot building sits on a 0.51-acre lot in a high-visibility area, ensuring excellent exposure. The property is currently fully leased, providing immediate and consistent cash flow. Two commercial units are secured with three-year leases, guaranteeing stable income for the foreseeable future. The upper level features a fully updated residential apartment, currently owner-occupied, boasting a modern kitchen, new appliances, fresh paint, and new flooring. This versatile space offers a blend of residential and commercial zoning, maximizing potential uses and rental income. Ample parking is available on-site. The combination of strong rental income from long-term leases, a desirable location, and minimal maintenance requirements makes this property an ideal investment for those seeking a low-risk, high-return opportunity. The property's size and layout offer flexibility for future expansion or adaptation to changing market demands. This is a rare chance to acquire a turnkey investment property with proven profitability and significant long-term potential. The asking price is $284,900.

    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
    -82.5696
    Latitude
    40.7601
    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
    $2,834
    $17,140
    $22,910
    $40,050
    -
    $48,970
    $65,450
    $114,420

    Comparable in this City

    • Value Estimation by Request
      9,581 SF

      514 Park W Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 9,581 SF
      514 Park W Ave, Mansfield, OH 44906-3726
      View Details
    • Value Estimation
      $1,995,000
      27,616 SF

      600 3rd St

      OFFICE/RESIDENTIAL (MIXED USE) • 27,616 SF
      600 3rd St, Mansfield, OH 44906-2633
      View Details
    • Value Estimation by Request
      4,252 SF

      893 Park W Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,252 SF
      893 Park W Ave, Mansfield, OH 44906-2971
      View Details
    • Value Estimation by Request
      4,160 SF

      400 Park W Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,160 SF
      400 Park W Ave, Mansfield, OH 44906-3116
      View Details
    • Value Estimation by Request
      7,045 SF

      437 Park W Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,045 SF
      437 Park W Ave, Mansfield, OH 44906-3153
      View Details
    • Value Estimation by Request
      7,076 SF

      409 Park W Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,076 SF
      409 Park W Ave, Mansfield, OH 44906-3115
      View Details

    Similar Nearby for Sale

    • $1,300,000
      35,410 SF

      Mansfield Redevelopment Opportunity

      Multi-parcel commercial property with redevelopment potential in Mansfield, OH.
      788800 Park Ave West, Mansfield, OH 44906
      View Details
    • $699,900
      5.00 Acres

      Secluded Ontario Property with Pond

      5-acre property with home, pond, and business potential.
      1980 Walker Lake Rd, Ontario, OH 44906
      View Details
    • $259,000

      Commercial Property with Income Potential

      Mixed-use commercial property featuring shop, warehouse, and residential unit.
      419 6Th Ave, Mansfield, OH 44906
      View Details
    • $3,500,000

      Prime Commercial Development Opportunity

      10 acres of B2 zoned land with utilities available.
      Walker Lake Rd, Ontario, OH 44906
      View Details
    • Contact for pricing
      0.64 Acres

      Mansfield Mixed-Use Investment Opportunity

      Prime 0.64-acre Mansfield property. Mixed-use potential.
      Mansfield, OH 44906
      View Details
    • Contact for pricing
      Pending

      Versatile Commercial Space in Mansfield

      18,000 sq ft commercial space ideal for diverse operations.
      850 4Th St, Mansfield, OH 44906
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      750 SF

      Retail Space Near Kroger

      Retail space available near multiple retailers and Richmond Mall.
      1139-1157 Park Ave W, Mansfield, OH 44906
      View Details
    • Contact for pricing

      Prime Retail Land for Lease

      Two tracts available in major retail area for lease.
      2078 Park Ave W, 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
    • $12 SF/Yr
      7,000 SF

      Freestanding Retail Building in Ontario

      7,000 SF retail building with open floor plan and parking.
      976 W 4Th St, Ontario, OH 44906
      View Details
    • 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
    • $800 /Mo
      100 SF

      Retail Space with Salon Features

      Retail space featuring salon infrastructure, ready for immediate occupancy.
      667 Lindaire Ln E, Mansfield, OH 44906
      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.
    1494 Park W Ave
    Ontario, OH 44906-2719
    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
    1494 Park W Ave, 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!