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

    2047 Wales NW Ave Massillon, OH 44646

    • Medical offices
    • 14,844 SF
    • 1.46 lot acres
    OFF-MARKET
    Value Estimations
    $1,625,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2806769
    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

    • Medical offices

    Property Details for 2047 Wales NW Ave

    Year built
    1997
    Construction
    FRAME
    Lot size
    1.46 lot acres
    Property size
    14,844 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    16-21916
    APU
    1621916

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,862,000
      Market price range: $923k - $2.33M
      AI Estimate
      $1,413,000
      Market price range: $486k - $1.41M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,355,000
      Current use
      RESTAURANT
      $1,735,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $1,600,000
      Change: +18% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,275,000
      Change: -6% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,230,000
      Change: -9% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,165,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Massillon
    County
    Stark
    State
    Ohio
    Longitude
    -81.5036
    Latitude
    40.8222
    CBSA code
    15940
    CBSA name
    CANTON-MASSILLON, 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
    $36,196
    $55,020
    $567,000
    $622,020
    -
    $157,200
    $1,620,000
    $1,777,200

    Comparable in this City

    • Value Estimation
      $590,000
      32,264 SF

      845 8th NE St

      MEDICAL BUILDING • 32,264 SF
      845 8th NE St, Massillon, OH 44646-8510
      View Details
    • Value Estimation by Request
      3,270 SF

      3803 Wales NW Ave

      MEDICAL BUILDING • 3,270 SF
      3803 Wales NW Ave, Massillon, OH 44646-1821
      View Details
    • Value Estimation by Request
      6,656 SF

      2500 Wales NW Ave

      MEDICAL BUILDING • 6,656 SF
      2500 Wales NW Ave, Massillon, OH 44646-2324
      View Details
    • Value Estimation by Request
      7,400 SF

      3235 Wales NW Ave

      MEDICAL BUILDING • 7,400 SF
      3235 Wales NW Ave, Massillon, OH 44646-1841
      View Details
    • Value Estimation by Request
      2,587 SF

      3300 Bailey St Nwunit101

      MEDICAL BUILDING • 2,587 SF
      3300 Bailey St Nwunit101, Massillon, OH 44646-3613
      View Details
    • Value Estimation by Request
      2,199 SF

      2400 Wales Ave Nw Ste J

      MEDICAL BUILDING • 2,199 SF
      2400 Wales Ave Nw Ste J, Massillon, OH 44646-2367
      View Details

    Similar Nearby for Sale

    • $585,000
      9,031 SF

      Medical Office Building Near Hospital

      Medical office building adjacent to Massillon Community Hospital.
      804 Amherst Rd NE, Massillon, OH 44646
      View Details
    • $425,000

      Move-in Ready Medical Office Building

      Well-maintained medical office, formerly animal clinic, with equipment included.
      1107 Lincoln Way E, Massillon, OH 44646
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    • $995,000
      17,816 SF

      Medical Office Investment Property

      Two-story medical office building with over 100 parking spaces.
      2300 Wales Ave NW, Massillon, OH 44646
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    • Contact for pricing
      23,172 SF

      Class A Office Building Space

      Shell space in downtown Massillon with modern amenities.
      50 North Ave NE, Massillon, OH 44646
      View Details
    • Contact for pricing
      17,300 SF

      Hills & Dales Retail/Office Space

      Retail or office spaces available in well-kept plaza.
      7983-8003 Hl & Dales Rd, Massillon, OH 44646
      View Details
    • Contact for pricing
      38.00 Acres

      Massillon Industrial Land for Sale

      38 Acres, Prime Industrial Location
      0 Industrial Park, Massillon, OH 44646
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      34,607 SF

      Massillon Retail Center: Prime Space

      High-traffic retail space, Massillon, OH. Brand new, flexible floorplans.
      1145 Lincoln Way, Massillon, OH 44646
      View Details
    • $1,850 /Mo
      59,677 SF

      Move-In Ready Office Space

      Office space in Jackson near Aultman Massillon.
      2400 Wales Ave NW, Massillon, OH 44646
      View Details
    • $9 SF/Yr
      1,360 SF

      Office Suite in Well-Kept Plaza

      Office suite with reception, offices, and restroom for rent.
      7981-8003 Hills And Dales Rd NW, Massillon, OH 44646
      View Details
    • $9 SF/Yr
      18,386 SF

      Massillon Executive Office Suites

      Prime Office Space Available in Massillon, OH
      7981-8003 Hl & Dales, Massillon, OH 44646
      View Details
    • $18 SF/Yr
      2,070 SF

      New Construction Raw Office Space

      2,070 SF raw office space in high retail area.
      2217 Lincoln Way E, Massillon, OH 44646
      View Details
    • $2,450 /Mo
      315,810 SF

      Massillon Commercial Property with Office/Warehouse

      Spacious commercial property with office and warehouse space for rent.
      201 Wetmore Ave SE, Massillon, OH 44646
      View Details
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    2047 Wales NW Ave
    Massillon, OH 44646
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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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