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Property profile & analytics
OFF-MARKET
Office buildings

158 Milan Ave Norwalk, OH 44857-1146

1,509 SF 0.37 ac lot Built 1957
Individually Owned 3-yr Hold Absentee Owner Free & Clear
Property ID
US66-0107568
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1957
Total area 1,509 SF
Lot 0.37 ac (16,117 SF)
APN 33-0290-03-002-0000
UPID US66-0107568
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Smokin Vape Norwalk (Bike/Boat/Book/etc) Store Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Not Provided · 3 yrs held
Not Provided
since 2022
Last sale
$230,000
6 recorded transactions
2022
Price N/A
2022
$230,000
2016
Price N/A
2012
$133,000
2012
$73,334
2006
$187,500
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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