Property profile

29 N Hester St Norwalk, OH 44857

FOR SALE
Office buildings
Property ID
US66-0078306
2,376 SF 0.13 ac lot Built 1925
Entity Owned 18-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property in downtown Norwalk, Ohio, presents a unique investment opportunity. Boasting a total of 8,422 square feet on a 0.25-acre lot, this property offers a blend of renovated retail space and expansive warehouse potential. The recently renovated 2,332-square-foot retail area features modern updates including new gas heaters, a gas forced air furnace, central air conditioning, updated electrical and plumbing systems, fresh drywall, new lighting, a new water heater, and a renovated bathroom. Exposed ductwork adds to the industrial-chic aesthetic. The adjacent 6,090-square-foot warehouse space, measuring approximately 87' x 70', is equipped with overhead garage doors, offering versatile usage options. This space could serve as a warehouse, or present significant potential for future development. The property benefits from separate electrical meters for the retail and warehouse areas, ensuring efficient utility management. New concrete sidewalks enhance the property's curb appeal. Previously utilized as an automotive service garage and sales dealership, this property comes with comprehensive documentation, including Phase I environmental reports and dump hauling records. Its prime downtown location offers easy access to shops, restaurants, the post office, coffee shops, parks, and the Norwalk splash pad, ensuring high visibility and convenient access for both employees and customers. This is an ideal opportunity for a business seeking a move-in ready space with significant expansion possibilities in a thriving downtown area. The property is commercially/industrially zoned. The motivated seller makes this an attractive proposition.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1925
Total area 2,376 SF
Lot 0.13 ac (5,456 SF)
APN 33-0200-01-041-0000
UPID US66-0078306

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Charitable Organization Social Service Agency
  • Law Firm
  • Trade Show Venue (Bike/Boat/Book/etc) Store

Location

29 N Hester St Norwalk, OH 44857
Norwalk metro Census 915800 NORWALK, OH MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$240k

Owner & transaction history

since 2007
2 recorded transactions
2007
$242,500
1969
Price N/A

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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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