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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    619 Ml Park Dr Lancaster, OH 43130-7753

    • Manufacturing properties
    • 50,400 SF
    • 6.66 lot acres
    OFF-MARKET
    Value Estimations
    $3,900,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5200154
    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

    • CHIYODA INTEGRE OF AMERICA, INC. OHIO / Marketing & Advertising
    • CHIYODA INTEGRE OF AMERICA, INC. OHIO FACTORY / Industrial Manufacturer / Production Facility

    Property Details for 619 Ml Park Dr

    Year built
    2015
    Lot size
    6.66 lot acres
    Property size
    50,400 SF
    Property type
    Manufacturing properties
    APN
    053-81353.32
    APU
    538135332

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,634,000
      Market price range: $569k - $4.79M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,090,000
      Current use
      AUTO REPAIR, GARAGE
      $5,620,000
      Change: +82% Conversion: Easy
      RETAIL STORES
      $5,065,000
      Change: +64% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $4,350,000
      Change: +41% Conversion: Difficult
      OFFICE BUILDING
      $3,595,000
      Change: +16% Conversion: Difficult
      WAREHOUSE, STORAGE
      $2,620,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Fairfield
    State
    Ohio
    Longitude
    -82.6719
    Latitude
    39.7215
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN 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
    $0.00
    $708,240
    $708,240
    -
    $0.00
    $2,023,530
    $2,023,530

    Comparable in this City

    • Value Estimation
      $610,000
      18,659 SF

      815 Lawrence St

      MANUFACTURING (LIGHT) • 18,659 SF
      815 Lawrence St, Lancaster, OH 43130-9401
      View Details
    • Value Estimation by Request
      16,348 SF

      1858 Chestnut St

      MANUFACTURING (LIGHT) • 16,348 SF
      1858 Chestnut St, Lancaster, OH 43130
      View Details
    • Value Estimation by Request
      3,438 SF

      1233 Columbus St

      MANUFACTURING (LIGHT) • 3,438 SF
      1233 Columbus St, Lancaster, OH 43130-1764
      View Details
    • Value Estimation
      $545,000
      30,000 SF

      890 Ml Park Dr

      MANUFACTURING (LIGHT) • 30,000 SF
      890 Ml Park Dr, Lancaster, OH 43130-2572
      View Details
    • Value Estimation
      $2,525,000
      30,000 SF

      890 Ml Park Dr

      MANUFACTURING (LIGHT) • 30,000 SF
      890 Ml Park Dr, Lancaster, OH 43130-2572
      View Details
    • Value Estimation
      $3,880,000
      127,520 SF

      940 Ml Park Dr

      MANUFACTURING (LIGHT) • 127,520 SF
      940 Ml Park Dr, Lancaster, OH 43130-9576
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      381,872 SF

      Lancaster Food Manufacturing Facility

      Established food manufacturing facility with expansion potential on 118.62 acres.
      3775 Lancaster New Lexington Rd Southeast, Lancaster, OH 43130
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    • $3,522,600
      23,484 SF

      Prime Lancaster OfficeMax Storefront

      High-profile retail, strong tenant, long lease.
      1541 River Valley Cir, Lancaster, OH 43130
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      Commercial Land Near Shopping Mall

      Commercial land with traffic light access near shopping and retail.
      1736 N Memorial Dr, Lancaster, OH 43130
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    • $249,000
      10.05 Acres

      Lancaster, OH 10-Acre Lot

      10-acre lot near Route 33 with pond and views.
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    • $199,900
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      5-Acre Wooded Land Parcel

      5-acre wooded land perfect for building or recreational use.
      Hamburg Rd SW, Lancaster, OH 43130
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    • $450,000
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      Land Near Lancaster Golf Club

      25 acres suitable for horse ranch or single-family development.
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    Similar Nearby for Lease

    • $5 SF/Yr
      7,228 SF

      Lancaster Warehouse Space Available

      7,228 SF warehouse space for lease in Lancaster, OH.
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    • Contact for pricing
      838 SF

      Lancaster Meijer Retail Space

      High-traffic in-store retail, 350-488 sq ft.
      2900 Columbus-Lancaster Rd, Lancaster, OH 43130
      View Details
    • Contact for pricing

      Land for Rent Lancaster, OH

      Land available for rent in Lancaster, Ohio.
      606 Lincoln Ave, Lancaster, OH 43130
      View Details
    • Contact for pricing
      6,250 SF

      Retail Space in Lancaster, OH

      Retail space available in Lancaster, Ohio, near Columbus.
      1500-1730 River Valley Cir S, Lancaster, OH 43130
      View Details
    • Contact for pricing
      6,870 SF

      Lancaster Retail Space For Rent

      Retail space available for lease in Lancaster, Ohio.
      1621-1739 N Memorial Dr, Lancaster, OH 43130
      View Details
    • $10,000 /Mo
      22,275 SF

      Lancaster, OH Commercial Space

      Prime commercial space for lease in Lancaster, Ohio.
      511 S High St, Lancaster, OH 43130
      View Details
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    619 Ml Park Dr
    Lancaster, OH 43130-7753
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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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