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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1941 Millersburg Rd Wooster, OH 44691-9409

    • Warehouses
    • 7,448 SF
    • 11.51 lot acres
    OFF-MARKET
    Last Sale
    Dec 16, 2020
    $625,000
    Value Estimations
    $645,000
    Show details
    Cap Rate Potential
    9.8%
    Warehouses
    Location Intelligence
    Property ID
    US66-1384548
    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

    • E-Pak Service Center / Trailer Repair Shop

    Property Details for 1941 Millersburg Rd

    Year built
    1961
    Lot size
    11.51 lot acres
    Property size
    7,448 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    56-00825-000
    APU
    5600825000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $745,000
      ML approach
      $585,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $910,000
      COMMERCIAL (GENERAL)
      $725,000
      AUTO REPAIR, GARAGE
      $590,000
      INDUSTRIAL (GENERAL)
      $440,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wooster
    County
    Wayne
    State
    Ohio
    Longitude
    -81.933
    Latitude
    40.7763
    CBSA code
    49300
    CBSA name
    WOOSTER, 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
    $6,388
    $35,720
    $91,070
    $126,790
    -
    $102,070
    $260,190
    $362,260

    Comparable in this City

    • Value Estimation by Request
      1,960 SF

      4931 Cleveland Rd

      MINI-WAREHOUSE, STORAGE • 1,960 SF
      4931 Cleveland Rd, Wooster, OH 44691-1161
      View Details
    • Value Estimation by Request
      1,040 SF

      Geyers Chapel Rd

      MINI-WAREHOUSE, STORAGE • 1,040 SF
      Geyers Chapel Rd, Wooster, OH 44691
      View Details
    • Value Estimation
      $4,285,000
      150,000 SF

      3500 Lincoln Way

      MINI-WAREHOUSE, STORAGE • 150,000 SF
      3500 Lincoln Way, Wooster, OH 44691-3759
      View Details
    • Value Estimation by Request
      2,604 SF

      331 Lucca St

      MINI-WAREHOUSE, STORAGE • 2,604 SF
      331 Lucca St, Wooster, OH 44691-3628
      View Details
    • Value Estimation by Request
      4,000 SF

      3818 Canal Rd

      MINI-WAREHOUSE, STORAGE • 4,000 SF
      3818 Canal Rd, Wooster, OH 44691
      View Details
    • Value Estimation by Request
      2,696 SF

      1950 Columbus Rd

      MINI-WAREHOUSE, STORAGE • 2,696 SF
      1950 Columbus Rd, Wooster, OH 44691-4634
      View Details

    Similar Nearby for Sale

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      Versatile Commercial Building with Apartment

      Commercial building with warehouse space and attached 2-bedroom apartment.
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    • $2,495,000

      Renovated Industrial Building with Rail

      46,890 SF industrial building ideal for distribution, warehousing, or manufacturing.
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      Wooster Industrial Land - $1.2M

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      Wooster Industrial Land - 56 Acres

      Prime industrial land, shovel-ready, divisible.
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    • $225,000
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      Downtown Wooster Corner Storefront

      Prime Wooster location, mixed-use potential.
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      Wooster, OH Building Lots

      Beautiful building lots in Northwestern Schools, some waterfront.
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    Similar Nearby for Lease

    • $0.39 SF/Yr
      26,400 SF

      Wooster Warehouse Space Available

      Industrial warehouse space for lease in Wooster, Ohio.
      4047 Lincoln Way E, Wooster, OH 44691
      View Details
    • Contact for pricing
      217,000 SF

      Wooster Industrial Space Sublease

      217,000 SF industrial space available for sublease in Wooster, Ohio.
      3751 Melrose Dr, Wooster, OH 44691
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    • $4,000 /Mo
      6,300 SF

      Wooster Warehouse Space For Rent

      6,300 SF warehouse space available for lease in Wooster.
      1889 Silver Rd, Wooster, OH 44691
      View Details
    • $1,100 /Mo
      3,312 SF

      Wooster Warehouse with Drive-In Doors

      3,312 SF warehouse with on-site parking and drive-in doors.
      2730 E Smithville Western Rd, Wooster, OH 44691
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    • $0.39 SF/Yr
      40,000 SF

      Wooster Warehouse Space Available

      40,000 SF warehouse space available for lease in Wooster.
      4255 E Lincoln Way, Wooster, OH 44691
      View Details
    • $1,500 /Mo
      3,090 SF

      Wooster Office Warehouse Space

      Office warehouse space available for lease in Wooster, Ohio.
      2148 Eagle Pass, Wooster, OH 44691
      View Details
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    Wooster, OH 44691-9409
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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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