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4838 Us Hwy 250th N Norwalk, OH 44857-9752

OFF-MARKET Commercial real estate Google Maps
4,320 SF 4.57 ac lot Built 1960
Trust Owned 8-yr Hold Free & Clear
Estimated value (blended)
$255k
Range $230k – $281k (±10%)
Property ID US66-3861210

Property summary

AI-generated overview

This exceptional 8.721-acre development site in Norwalk, Ohio, presents a remarkable redevelopment opportunity. Located on US Highway 250 North, this unzoned property boasts a prime location with high visibility and significant traffic volume, benefitting from an AADT of 13,845 (2018 data). Its strategic proximity to Interstate 80/90 (less than 4 miles) and Cedar Point (15 miles) enhances its appeal and accessibility. The property is comprised of three parcels (APN: 27012A020130000, 27012A020140000, 27012A020150000) and offers considerable flexibility for various development scenarios. Existing improvements include a 12,000 square foot warehouse, two storage garages totaling 9,666 square feet, a 786 square foot office space, and a 2,730 square foot house suitable for additional office space. A 5,546 square foot service bay garage further adds to the existing building footprint, resulting in a total warehouse and service bay area of 27,426 square feet. The property is zoned for potential retail, residential, industrial, or hotel development, and is also subdividable, providing numerous options for investors and developers. The asking price is $1,800,000, translating to $206,398 per acre. The Berlin Milan LSD serves as the local school district.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1960
Total area 4,320 SF
Lot 4.57 ac (199,113 SF)
APN 27-012A-02-014-0000
UPID US66-3861210

Cap rate & NOI

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

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$255k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$255k

Owner & transaction history

since 2018
1 recorded transaction
2018
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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