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Property profile & analytics
OFF-MARKET Estimated value $1,045,000
Strip malls

56 Stower Ln Norwalk, OH 44857-2657

10,780 SF 1.26 ac lot Built 2007
Entity Owned 4-yr Hold Free & Clear
Property ID
US66-2068599
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2007
Total area 10,780 SF
Lot 1.26 ac (55,016 SF)
APN 52-160D-01-024-0201
UPID US66-2068599
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$965k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.05M
Owner & transaction history
56 Stower Lane LLC · 4 yrs held
56 Stower Lane LLC
since 2022
Last sale
$1.1M
7 recorded transactions
2023
Price N/A
2022
Price N/A
2021
Price N/A
2020
$1.1M
2019
Price N/A
2016
Price N/A
2016
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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