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    OFF-MARKET
    Automotive properties

    249 Milan Ave, Norwalk, OH 44857

    4,020 SF 0.89 ac lot Built 1954
    Individually Owned 18-yr Hold Free & Clear
    Property ID
    US66-0083494
    Property summary
    AI-generated overview

    This exceptional commercial property, situated on the highly visible Milan Avenue (State Route 250) in Norwalk, Ohio, presents a unique investment opportunity. The 1.52-acre lot boasts approximately 250 feet of frontage on Milan Avenue, plus additional access from Plank Road, ensuring excellent visibility and accessibility. The property comprises three parcels and includes three distinct buildings. The main building, situated to the south, offers approximately 7,000 square feet of versatile space, currently configured as office space, an auto garage, and ample storage. This building's layout provides flexibility for a variety of commercial uses. Behind the main building is a 1,296-square-foot mobile home with three bedrooms and two bathrooms, currently generating rental income of $450 per month. Finally, a 1,500-square-foot building located on the north end of the property, previously used as a lending institution, offers additional potential for development or lease. The entire property totals 9,816 square feet, offering a substantial footprint for a diverse range of commercial ventures. This property's strategic location, combined with its multiple buildings and ample space, makes it an ideal investment for both established businesses and entrepreneurs seeking a prominent presence in Norwalk. The asking price is $499,000.

    Property profile
    Verified
    Property type Automotive properties
    Use group VEHICLE SALES, RENTALS
    Year built 1954
    Total area 4,020 SF
    Lot 0.89 ac (38,768 SF)
    APN 33-012B-01-004-0100
    UPID US66-0083494
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
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    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    Orth,james & Deborah · 18 yrs held
    Orth,james & Deborah
    since 2008
    1 recorded transaction
    2008
    $350,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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