158 Milan Ave Norwalk, OH 44857-1146
This exceptional investment opportunity presents a fully leased, two-unit commercial property ideally situated at 158 Milan Avenue in Norwalk, Ohio. Boasting excellent visibility and high traffic counts exceeding 12,000 vehicles daily, this property guarantees consistent income. The 0.37-acre lot features convenient customer parking in the front and a private parking lot in the rear. The durable metal roof ensures long-term maintenance savings. Both units are currently leased, generating a combined monthly rental income of $3,450. Tenants are responsible for all utilities, minimizing owner responsibilities. The right-side unit offers a full basement for ample storage, a waiting room/reception area, an office, a half bath, and convenient front and back door access. The left-side unit provides a spacious storefront layout, an office, a half bath, and front and back door access. Both units are equipped with air conditioning. This property's strategic location, just 15 minutes from the Kalahari Resort and 30 minutes from Cedar Point, coupled with its proximity to downtown Norwalk's amenities (pharmacies, grocery stores, gas stations, and restaurants), makes it an exceptionally attractive investment. The property's high visibility, strong rental income, and convenient location combine to create a compelling opportunity for a savvy investor seeking a low-maintenance, high-return commercial property. The asking price is $249,900.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.