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    Property profile & analytics

    3431 Commerce Pkwy Wooster, OH 44691

    • Office buildings
    • 8,784 SF
    • 1.18 lot acres
    For Sale
    View listing
    $225,000
    Last Sale
    Jun 03, 2020
    $875,000
    Value Estimations
    Cap Rate Potential
    9.3%
    Office buildings
    Location Intelligence
    Property ID
    US66-0383722
    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

    • Wooster Family Dental / Dental Office
    • Ash Michael J / Law Firm
    • Vinion Ash Law / Law Firm
    • Marilyn Hyde Acupuncture / Medical Clinic / Alternative Medicine Practice
    • Bhagwanti Rohira / Physician

    Property Details for 3431 Commerce Pkwy

    Year built
    1999
    Lot size
    1.18 lot acres
    Property size
    8,784 SF
    Property type
    Office buildings
    APN
    67-02951-009
    APU
    6702951009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $995,000
      ML approach
      $980,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $897,000
      Market price range: $486k - $1.16M

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

    Location Insight

    • Map
    • Local Demand
    City
    Wooster
    County
    Wayne
    State
    Ohio
    Longitude
    -81.9463
    Latitude
    40.8413
    CBSA code
    49300
    CBSA name
    WOOSTER, 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
    $24,267
    $64,490
    $267,450
    $331,940
    -
    $184,260
    $764,130
    $948,390

    Comparable in this City

    • Value Estimation by Request
      2,328 SF

      1821 Cleveland Rd

      OFFICE BUILDING • 2,328 SF
      1821 Cleveland Rd, Wooster, OH 44691-2205
      View Details
    • Value Estimation by Request
      3,400 SF

      205 Liberty St

      OFFICE BUILDING • 3,400 SF
      205 Liberty St, Wooster, OH 44691-4831
      View Details
    • Value Estimation
      $745,000
      6,956 SF

      3562 Commerce Pkwy

      OFFICE BUILDING • 6,956 SF
      3562 Commerce Pkwy, Wooster, OH 44691-7128
      View Details
    • Value Estimation
      $740,000
      7,464 SF

      2363 Eagle Pass

      OFFICE BUILDING • 7,464 SF
      2363 Eagle Pass, Wooster, OH 44691-5344
      View Details
    • Value Estimation
      $520,000
      5,390 SF

      2056 Portage Rd

      OFFICE BUILDING • 5,390 SF
      2056 Portage Rd, Wooster, OH 44691-1900
      View Details
    • Value Estimation by Request
      2,860 SF

      248 Walnut St

      OFFICE BUILDING • 2,860 SF
      248 Walnut St, Wooster, OH 44691-4812
      View Details

    Similar Nearby for Sale

    • $225,000
      1,252 SF

      Downtown Wooster Corner Storefront

      Prime Wooster location, mixed-use potential.
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    • $180,000
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      Office Space For Sale

      Office space available for sale, approximately 1,136 square feet.
      3880 Cleveland Rd, Wooster, OH 44691
      View Details
    • $225,000
      1.05 Acres

      Wooster Commercial Land - $225K

      Prime Wooster land, ideal for office development.
      3405 Commerce Pkwy, Wooster, OH 44691
      View Details
    • $94,500
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      Wooster, OH Building Lots

      Beautiful building lots in Northwestern Schools, some waterfront.
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    • $1,221,000
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      Wooster Industrial Land - $1.2M

      20-Acre Industrial Lot, Prime Location
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      Wooster Industrial Land - 56 Acres

      Prime industrial land, shovel-ready, divisible.
      3600 Old Airport Rd, Wooster, OH 44691
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    Similar Nearby for Lease

    • Contact for pricing
      7,800 SF

      Lincoln Way Creative Office Space

      7,800 SF Creative Office, Showroom Available
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      View Details
    • $12 SF/Yr
      20,000 SF

      Wooster Executive Office Space Available

      Prime Wooster office, 2,481 sq ft available.
      2375 Benden Dr, Wooster, OH 44691
      View Details
    • $4,000 /Mo
      89,690 SF

      Wooster Commercial Shell Space

      3,100 SF C2 shell space ready for custom build-out.
      2281 Merit Dr, Wooster, OH 44691
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    • $650 /Mo
      22,494 SF

      Professional Office Space for Lease

      Office space in expanding area with easy highway access.
      2098 Portage Rd, Wooster, OH 44691
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    • Contact for pricing
      2,160 SF

      Wooster Medical Office Space For Lease

      Prime Wooster location, 2160 sq ft office.
      567 Market St, Wooster, OH 44691
      View Details
    • $4,000 /Mo
      4,600 SF

      Wooster Office Space Available

      4,600 SF office space for rent in Wooster, OH.
      505 N Market St, Wooster, OH 44691
      View Details
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    3431 Commerce Pkwy
    Wooster, OH 44691
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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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