249 Milan Ave, Norwalk, OH 44857
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.