56 Stower Ln, Norwalk, OH 44857-2657
- Strip malls
- 10,780 SF
- 1.26 lot acres
Current Use by Public Records
- Norwalk Dental Center / Dental Office
- East of Chicago Pizza / Restaurant
- Edward Jones - Financial Advisor: Andrea M Lepley, AAMS® / Financial Advisor
- Dr. Joseph Kim / Dental Office
- Norwalk Office / Law Firm
Property Details for 56 Stower Ln
- Year built
- 2007
- Lot size
- 1.26 lot acres
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 52-160D-01-024-0201
- APU
- 52160D010240201
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 26, 2023 | — | 56 Stower LLC | — | Deed · related | $280k · The Middlefield Banking Co |
| Feb 9, 2022 | — | 56 Stower Lane LLC | Vlada Spasic | Correction Deed · related | — |
| Jul 19, 2021 | — | 56 Stower Lane LLC | Viada Spasic | Quit Claim Deed · related | — |
| May 18, 2020 | $1,100,000 | Vlada Spasic | H M C Properties INC | Warranty Deed | $700k · Liberty National Bank |
| Jun 10, 2019 | — | Hmc Properties INC | — | Trustees Deed · related | $117k · Buckeye Cmnty Bk |
| Dec 14, 2016 | — | Hmc Properties INC | — | Deed · related | $408k · Private Individual |
| Sep 20, 2016 | — | Hmc Properties INC | — | Trustees Deed · related | $78k · Buckeye Cmnty Bk |
| Dec 12, 2014 | $49,500 | Hmc Properties INC | Westfield Bk Fsb | Warranty Deed | — |
| Nov 7, 2014 | $440,000 | Hmc Properties INC | Pride One Norwalk Retail LLC | Grant Deed | — |
| — | — | Hmc Properties INC | — | Deed Of Trust · related | $260k · Buckeye Cmnty Bk |
| — | — | Hmc Properties INC | — | Deed Of Trust · related | $408k · Private Individual |
Description
This exceptional investment opportunity presents a five-tenant retail strip mall ideally situated in Norwalk, Ohio. The property boasts a total of 1.26 acres and features four strong, established tenants all operating under favorable Net Net Net (NNN) leases, minimizing landlord responsibilities. These tenants include a popular pizza restaurant (East of Chicago Pizza), a well-known financial services firm (Edward Jones), and two thriving oral surgery practices. The oral surgery practices have recently invested over $500,000 in improvements within the last two years, demonstrating their commitment to the location and long-term success. A significant advantage is the inclusion of a prominent monument sign on Route 250, ensuring high visibility and attracting potential customers. Currently, one in-line space of 1,496 square feet is vacant, presenting a unique opportunity for an owner-occupant or an investor seeking to increase rental income. While not currently marketed, this space is easily rentable given the property's prime location and existing tenant strength. This property offers a compelling combination of stable income from existing tenants and significant upside potential from leasing the vacant space, making it an attractive investment for both owner-occupants and investors seeking a strong return on investment. The property's location and tenant mix create a robust and desirable investment opportunity.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,010,000
- ML approach
- $965,000
-
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,595,000
- APARTMENT HOUSE (5+ UNITS)
- $1,465,000
- OFFICE BUILDING
- $1,300,000
- RESTAURANT
- $1,255,000
- MEDICAL BUILDING
- $1,085,000
- AUTO REPAIR, GARAGE
- $1,050,000
- RETAIL STORES
- $1,020,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Norwalk
- County
- Huron
- State
- Ohio
- Longitude
- -82.6068
- Latitude
- 41.2686
- CBSA code
- 35940
- CBSA name
- NORWALK, OH MICROPOLITAN STATISTICAL AREA
