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

    721 Main St Wilmington, OH 45177-2126

    • Medical offices
    • 2,176 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-4217943
    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

    • Eye Specialists of Ohio / Ophthalmologist / Eye Care Center
    • Schultz Terry OD / Optometrist
    • Eye Specialist of Ohio / Eye Care Center / Optometrist
    • Dr. Harmeet S. Chawla, M.D. / Ophthalmologist
    • Eye Specialist of Ohio: Egolf Jay S MD / Doctor

    Property Details for 721 Main St

    Year built
    1985
    Lot size
    0.53 lot acres
    Property size
    2,176 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    290-15-08-23-0000-00
    APU
    290150823000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $430,000
      6.5%
      $395,000
      7%
      $370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $226,000
      Market price range: $130k - $245k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $195,000
      Current use
      OFFICE BUILDING
      $320,000
      Change: +64% Conversion: Easy
      AUTO REPAIR, GARAGE
      $310,000
      Change: +59% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $300,000
      Change: +54% Conversion: Easy
      RETAIL STORES
      $215,000
      Change: +10% Conversion: Difficult
      WAREHOUSE, STORAGE
      $165,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    Clinton
    State
    Ohio
    Longitude
    -83.8411
    Latitude
    39.446
    CBSA code
    48940
    CBSA name
    WILMINGTON, 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
    $3,942
    $24,430
    $65,630
    $90,060
    -
    $69,800
    $187,500
    $257,300

    Comparable in this City

    • Value Estimation
      $225,000
      0.20 Acres

      Locust St

      MEDICAL CLINIC • 0.20 Acres
      Locust St, Wilmington, OH 45177
      View Details
    • Value Estimation
      $300,000
      9,970 SF

      1184 Locust St

      MEDICAL CLINIC • 9,970 SF
      1184 Locust St, Wilmington, OH 45177-2009
      View Details
    • Value Estimation
      $235,000
      3,516 SF

      1665 Alex Dr

      MEDICAL CLINIC • 3,516 SF
      1665 Alex Dr, Wilmington, OH 45177-2446
      View Details
    • Value Estimation
      $145,000
      1,344 SF

      212 Ss St

      MEDICAL CLINIC • 1,344 SF
      212 Ss St, Wilmington, OH 45177-2218
      View Details
    • Value Estimation
      $145,000
      1,620 SF

      815 Ss St

      MEDICAL CLINIC • 1,620 SF
      815 Ss St, Wilmington, OH 45177-2755
      View Details
    • Value Estimation
      $290,000
      8,800 SF

      2241 Rombach Ave

      MEDICAL CLINIC • 8,800 SF
      2241 Rombach Ave, Wilmington, OH 45177-1995
      View Details

    Similar Nearby for Sale

    • $995,000
      9,636 SF

      Charming Office Building with Modern Addition

      Spacious office building with historic charm and modern amenities.
      825 W Locust St, Wilmington, OH 45177
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    • Contact for pricing
      1,744,320 SF

      Wilmington Air Park Business Park

      Integrated aviation and logistics business park with industrial and office space.
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      20.00 Acres

      Prime 20-Acre Commercial Land

      Wilmington, OH: Hwy 3 & US 22 frontage
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    • Contact for pricing
      20.00 Acres

      Wilmington, OH Industrial Land

      20-Acre Development Opportunity near major highways.
      22 S, Wilmington, OH 45177
      View Details
    • Contact for pricing
      3,033 SF

      Former Restaurant on High-Traffic Corner

      Freestanding 3,033 SF restaurant with drive-thru on 1.2 acres.
      50 Roberts Rd, Wilmington, OH 45177
      View Details
    • $139,900

      Versatile Land with Existing Structure

      2+ acre lot zoned for business, commercial, or residential use.
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    Similar Nearby for Lease

    • Contact for pricing
      104,000 SF

      Wilmington Executive Office Space

      Modern Office, 5,405 SF Available
      1113 Airport Rd, Wilmington, OH 45177
      View Details
    • Contact for pricing
      2,630,000 SF

      Airport Road Commercial Campus

      Wilmington, OH: Premier Office & Warehouse Space
      1113 Airport Rd, Wilmington, OH 45177
      View Details
    • Contact for pricing
      35,000 SF

      High-Visibility Commercial Space Available

      Strategically located commercial space with high traffic and visibility.
      2251 Rombach Ave, Wilmington, OH 45177
      View Details
    • $18 SF/Yr
      10,700 SF

      Wilmington Square II Retail Center

      Prime Retail Space Available in Clinton County
      2855 Progress Way, Wilmington, OH 45177
      View Details
    • Contact for pricing

      Wilmington Airport Land - 265 Acres

      Prime Ohio Airport Land: Lease Opportunity.
      1113 Airport Rd, Wilmington, OH 45177
      View Details
    • Contact for pricing
      1 SF

      Prime Commercial Land For Lease

      1.4 acre commercial land parcel with high visibility and accessibility.
      Roberts Rd, Wilmington, OH 45177
      View Details
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    721 Main St
    Wilmington, OH 45177-2126
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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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