You are browsing as a guest. Register to access key data for free.
Property profile

249 Milan Ave Norwalk, OH 44857

OFF-MARKET
Automotive properties
Property ID
US66-0083494
4,020 SF 0.89 ac lot Built 1954
Individually Owned 18-yr Hold Free & Clear

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

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$245k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$245k

Owner & transaction history

since 2008
1 recorded transaction
2008
$350,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 249 Milan Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message