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

    2695 Progress Way Wilmington, OH 45177-7702

    • Manufacturing properties
    • 36,775 SF
    • 3.50 lot acres
    OFF-MARKET
    Last Sale
    Dec 28, 2021
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5222727
    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

    • Innovative Engineered Solutions / Building Supply / Metal Fabrication Plant

    Property Details for 2695 Progress Way

    Lot size
    3.50 lot acres
    Property size
    36,775 SF
    Property type
    Manufacturing properties
    APN
    290-18-05-17-0001-00
    APU
    290180517000100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $680,000
      Market price range: $248k - $728k

    • Alternative Use

      Use
      Estimation
      ASSEMBLY (LIGHT INDUSTRIAL)
      $485,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    Clinton
    State
    Ohio
    Longitude
    -83.7822
    Latitude
    39.4531
    CBSA code
    48940
    CBSA name
    WILMINGTON, 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
    $10,995
    $24,500
    $239,230
    $263,730
    -
    $70,000
    $683,500
    $753,500

    Comparable in this City

    • Value Estimation
      $3,220,000
      403,185 SF

      894 Pr Rd

      ASSEMBLY (LIGHT INDUSTRIAL) • 403,185 SF
      894 Pr Rd, Wilmington, OH 45177-8847
      View Details
    • Value Estimation
      $1,190,000
      144,128 SF

      1961 Rombach Ave

      ASSEMBLY (LIGHT INDUSTRIAL) • 144,128 SF
      1961 Rombach Ave, Wilmington, OH 45177-1997
      View Details
    • Value Estimation
      $1,215,000
      96,166 SF

      185 Park Dr

      ASSEMBLY (LIGHT INDUSTRIAL) • 96,166 SF
      185 Park Dr, Wilmington, OH 45177-2891
      View Details
    • Value Estimation
      $870,000
      88,768 SF

      92 Grant St

      ASSEMBLY (LIGHT INDUSTRIAL) • 88,768 SF
      92 Grant St, Wilmington, OH 45177-2324
      View Details
    • Value Estimation
      $645,000
      98,324 SF

      821 Nelson Ave

      ASSEMBLY (LIGHT INDUSTRIAL) • 98,324 SF
      821 Nelson Ave, Wilmington, OH 45177
      View Details
    • Value Estimation by Request
      20,476 SF

      261 Sugartree St

      ASSEMBLY (LIGHT INDUSTRIAL) • 20,476 SF
      261 Sugartree St, Wilmington, OH 45177-2316
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      50.20 Acres

      Wilmington, OH Industrial Land - 50 Acres

      Prime 50-acre industrial site; build-to-suit opportunity.
      780 Davids Dr, Wilmington, OH 45177
      View Details
    • Contact for pricing
      20.00 Acres

      Prime 20-Acre Commercial Land

      Wilmington, OH: Hwy 3 & US 22 frontage
      0 Rombach Ave, Wilmington, OH 45177
      View Details
    • Contact for pricing
      1,744,320 SF

      Wilmington Air Park Business Park

      Integrated aviation and logistics business park with industrial and office space.
      3512 Progress Way, Wilmington, OH 45177
      View Details
    • $498,000
      20.00 Acres

      Liberty Twp Land For Sale

      Approximately 20 acres of land in Liberty Twp, Ohio.
      Liberty Twp, OH 45177
      View Details
    • $2,000,000
      20.00 Acres

      Prime 20-Acre Ohio Farmland

      Residential building lot, farmland, Clinton County.
      0 Mccoy Rd, Wilmington, OH 45177
      View Details
    • $4,259,060
      65.52 Acres

      Wilmington, OH Land For Sale

      65.524 acre light industrial land with road frontage.
      3511 Us Rt 22 & 3, Wilmington, OH 45177
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,630,000 SF

      Airport Road Commercial Campus

      Wilmington, OH: Premier Office & Warehouse Space
      1113 Airport Rd, Wilmington, OH 45177
      View Details
    • Contact for pricing
      299,000 SF

      Expandable Industrial Facility in Wilmington

      Rear-load facility divisible to 50,000 SF with expansion potential.
      Airborne Rd, Wilmington, OH 45177
      View Details
    • Contact for pricing
      19,200 SF

      Wilmington Industrial Warehouse For Rent

      19,200 SF industrial warehouse space available for lease.
      1175-1275 Airport Rd, Wilmington, OH 45177
      View Details
    • $7 SF/Yr
      19,200 SF

      Wilmington Warehouse: 19,200 SF

      Spacious industrial warehouse, ideal for lease.
      1231 Old State Route 73, Wilmington, OH 45177
      View Details
    • Contact for pricing
      35,000 SF

      High-Visibility Commercial Space Available

      Strategically located commercial space with high traffic and visibility.
      2251 Rombach Ave, Wilmington, OH 45177
      View Details
    • $2,995,000
      1,600 SF

      Retail Space in Wilmington, OH

      Retail property available for rent in Wilmington, Ohio.
      935-1025 S South St S, Wilmington, OH 45177
      View Details
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    2695 Progress Way
    Wilmington, OH 45177-7702
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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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