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    Property profile & analytics

    1521 Michigan St Sidney, OH 45365-2450

    • Manufacturing properties
    • 167,000 SF
    • 32.71 lot acres
    OFF-MARKET
    Value Estimations
    $5,170,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3116708
    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.

    Current Use by Public Records

    • Reliable Castings / Industrial Manufacturer / Production Facility

    Property Details for 1521 Michigan St

    Lot size
    32.71 lot acres
    Property size
    167,000 SF
    Property type
    Manufacturing properties
    APN
    01-1835126.008
    APU
    11835126008

    Description

    This bankruptcy sale presents a unique opportunity to acquire a substantial industrial facility totaling 165,230 square feet situated on a 33.819-acre lot in Sidney, Ohio. The property boasts an excellent location with over 2,000 feet of I-75 frontage, ensuring high visibility and convenient highway access. The facility, formerly occupied by Reliable Castings, comprises five buildings constructed between 1953 and 2018, offering a mix of heavy manufacturing, machine shop, warehouse, distribution, and office space. Ceiling heights range from 13'8" to 23'9", and the property includes 14 dock-high doors and 6 loading docks. The zoning is IIM - Industry Innovation Manufacturing, allowing for diverse uses. Nineteen percent of the building area has been added since 2012, reflecting significant recent investment. The ample land provides opportunities for expansion or multi-tenant development. The property will be delivered vacant on February 1, 2025, presenting a blank canvas for a new owner/user or investor. Given the limited industrial supply in the submarket (2.3% vacancy rate, per CoStar), this is a compelling investment opportunity. The asking price is $4,900,000, translating to $29.66 per square foot and $144,889 per acre for the land. The property is offered fee simple.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,365,000
      Market price range: $1.70M - $8.54M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,780,000
      Current use
      WAREHOUSE, STORAGE
      $4,820,000
      Change: +27% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sidney
    County
    Shelby
    State
    Ohio
    Longitude
    -84.1803
    Latitude
    40.285
    CBSA code
    43380
    CBSA name
    SIDNEY, 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
    $60,959
    $434,600
    $938,900
    $1,373,500
    -
    $1,241,720
    $2,682,580
    $3,924,300

    Comparable in this City

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    • Value Estimation by Request
      0.15 Acres

      Wilkinson Ave

      FACTORY (MANUFACTURING) • 0.15 Acres
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    • Value Estimation
      $1,780,000
      136,120 SF

      2615 Campbell Rd

      ASSEMBLY (LIGHT INDUSTRIAL) • 136,120 SF
      2615 Campbell Rd, Sidney, OH 45365-8837
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    • Value Estimation
      $3,630,000
      81,150 SF

      1905 Progress Way

      ASSEMBLY (LIGHT INDUSTRIAL) • 81,150 SF
      1905 Progress Way, Sidney, OH 45365-8114
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    • Value Estimation
      $820,000
      2,176 SF

      1661 Saint Marys Ave

      ASSEMBLY (LIGHT INDUSTRIAL) • 2,176 SF
      1661 Saint Marys Ave, Sidney, OH 45365-9395
      View Details
    • Value Estimation
      $4,960,000
      7,383 SF

      615 Oak Ave

      FACTORY (MANUFACTURING) • 7,383 SF
      615 Oak Ave, Sidney, OH 45365-1335
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      165,230 SF

      Industrial Facility on 33.81 Acres

      165,230 SF industrial facility on 33.81 acres available now.
      1501-1521 Michigan St, Sidney, OH 45365
      View Details
    • $650,000
      13,500 SF

      Sidney Warehouse with Office Space

      13,500 SF warehouse with 5,000 SF office space.
      2655 Campbell Rd, Sidney, OH 45365
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    • $120,000
      5.93 Acres

      Land in Sidney, Ohio

      5.93 acres suitable for residential or agricultural development.
      Fair Rd, Sidney, OH 45365
      View Details
    • $169,900
      3,020 SF

      Income-Producing Duplex with Garage Rental

      Duplex with two units and a leased two-car garage.
      414 E Court St, Sidney, OH 45365
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    • $65,000
      1,617 SF

      Land Near Interstate in Sidney

      Build-ready land with utilities in place near the interstate.
      Creekside Ct, Sidney, OH 45365
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    • $40,000
      0.25 Acres

      Land For Sale, Sidney, OH

      Land available near shopping and restaurants in Sidney, Ohio.
      1901 Shawnee Dr, Sidney, OH 45365
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    Similar Nearby for Lease

    • $4 SF/Yr
      62,000 SF

      Industrial Warehouse Space Available

      62,000 SF industrial space with convenient highway access.
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    • Contact for pricing
      163,800 SF

      Sidney Warehouse: Prime Industrial Space

      163,800 SF Single-Tenant Warehouse in Ohio
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    • $4 SF/Yr
      50,000 SF

      Versatile Industrial Property with Storage

      Industrial property featuring heavy power, outside and cold storage.
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    • Contact for pricing
      50,000 SF

      Industrial Space with Highway Visibility

      Up to 100,000 SF available with I-75 access.
      930-990 N Vandemark Rd, Sidney, OH 45365
      View Details
    • New
      $3,755 /Mo
      9,485 SF

      Sidney Flex Space with Shop

      9,485 SF flex space with office and shop areas.
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    • $4,000 /Mo
      4,000 SF

      Office and Warehouse Space Available

      4,000 sq ft office and warehouse space for lease.
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      View Details
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    1521 Michigan St
    Sidney, OH 45365-2450
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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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