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    34 Executive Dr Norwalk, OH 44857

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    34 Executive Dr Norwalk, OH 44857

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    • Medical Office Space
    • 6,064 SF
    • 0.76 lot acres
    For Sale
    $565,000
    View Listing →
    Leased Medical/Office Building Investment For Sale
    $565,000
    6,107 SF

    Leased Medical/Office Building Investment

    Fully leased medical/office building with long-term tenant and strong CAP.

    34 Executive Drive, Norwalk, OH 44857
    View Listing
    Property ID
    US66-0660674
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Centa Joseph MD / Physician
    • Farid H Said Md / Physician
    • Dr. Adam Kapler, DO / Physician / Medical Clinic
    • NOMS Advanced Neurology / Medical Clinic
    • WIC Clinic / Medical Clinic

    Property Details for 34 Executive Dr

    Year built
    1981
    Lot size
    0.76 lot acres
    Property size
    6,064 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    33-004B-01-024-2300
    APU
    33004B010242300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $583,000
      Market price range: $416k - $817k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $610,000
      Current use
      COMMERCIAL (GENERAL)
      $895,000
      Change: +47% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $825,000
      Change: +35% Conversion: Moderate
      OFFICE BUILDING
      $730,000
      Change: +20% Conversion: Easy
      RESTAURANT
      $705,000
      Change: +15% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $590,000
      Change: -3% Conversion: Difficult
      RETAIL STORES
      $570,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Huron
    State
    Ohio
    Longitude
    -82.5991
    Latitude
    41.2299
    CBSA code
    35940
    CBSA name
    NORWALK, 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
    $0.00
    $15,940
    $106,800
    $122,740
    -
    $45,540
    $305,140
    $350,680

    Comparable in this City

    • Value Estimation
      $740,000
      6,060 SF

      278 Benedict Ave

      MEDICAL BUILDING • 6,060 SF
      278 Benedict Ave, Norwalk, OH 44857-2399
      View Details
    • Value Estimation by Request
      2,249 SF

      102 Main St

      MEDICAL BUILDING • 2,249 SF
      102 Main St, Norwalk, OH 44857-1821
      View Details
    • Value Estimation by Request
      1,710 SF

      48 Linwood Ave

      MEDICAL BUILDING • 1,710 SF
      48 Linwood Ave, Norwalk, OH 44857-1519
      View Details
    • Value Estimation by Request
      1,785 SF

      54 Executive Dr, Unit B

      MEDICAL BUILDING • 1,785 SF
      54 Executive Dr, Norwalk, OH 44857-8504
      View Details
    • Value Estimation by Request
      3,480 SF

      112 Benedict Ave

      MEDICAL BUILDING • 3,480 SF
      112 Benedict Ave, Norwalk, OH 44857-2132
      View Details
    • Value Estimation by Request
      4,560 SF

      26 Executive Dr

      MEDICAL BUILDING • 4,560 SF
      26 Executive Dr, Norwalk, OH 44857-2421
      View Details

    Similar Nearby for Sale

    • New
      $565,000
      6,107 SF

      Leased Medical/Office Building Investment

      Fully leased medical/office building with long-term tenant and strong CAP.
      34 Executive Dr, Norwalk, OH 44857
      View Details
    • Contact for pricing
      1,000 SF

      Norwalk Office Space: Sublease Available

      Prime Office, High Visibility, Great Parking
      166 Milan Ave, Norwalk, OH 44857
      View Details
    • $299,000
      4,286 SF

      Downtown Norwalk Office Building

      Prime Location, 4,286 sq ft Office Space
      10 Main St, Norwalk, OH 44857
      View Details
    • Contact for pricing
      94,800 SF

      Norwalk Industrial Facility For Sale

      94,800 SF industrial facility with heavy manufacturing zoning.
      205 Republic St, Norwalk, OH 44857
      View Details
    • $2,375,000
      Pending

      44.22 Acres of Land For Sale

      44.22 acres of commercial land for sale in Norwalk, Ohio.
      285 Benedict Ave, Norwalk, OH 44857
      View Details
    • $599,900
      17.63 Acres

      Horse Property with Arenas, Stalls

      Horse property featuring arenas, stalls, and multiple outbuildings.
      2298 Ridge Rd N, Norwalk, OH 44857
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,600 SF

      Retail/Office/Warehouse Space Available

      Retail, office, and warehouse space for lease near Walmart.
      101 Plank Rd, Norwalk, OH 44857
      View Details
    • Contact for pricing

      Retail Space on SR 250

      Retail spaces available in Norwalk, anchored by Discount Drug Mart.
      84 Whittlesey Ave, Norwalk, OH 44857
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 21,400 square feet.
      201 Cline St, Norwalk, OH 44857
      View Details
    View Listing
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    34 Executive Dr
    Norwalk, OH 44857
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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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