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

    7381 State Rte 231 Tiffin, OH 44883-8503

    • Flex space
    • 7,320 SF
    • 4.90 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2024
    Value Estimations
    $195,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3078945
    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

    • Flex space

    Property Details for 7381 State Rte 231

    Year built
    1980
    Construction
    FRAME
    Lot size
    4.90 lot acres
    Property size
    7,320 SF
    Property type
    Flex space
    APN
    E18000282800000
    APU
    E18000282800000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $210,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $185,000
      Market price range: $69.7k - $208k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $140,000
      Current use
      RETAIL STORES
      $300,000
      Change: +117% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $275,000
      Change: +100% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tiffin
    County
    Seneca
    State
    Ohio
    Longitude
    -83.1695
    Latitude
    41.0171
    CBSA code
    45660
    CBSA name
    TIFFIN, 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
    $3,308
    $26,570
    $29,740
    $56,310
    -
    $75,900
    $84,970
    $160,870

    Comparable in this City

    • Value Estimation
      $130,000
      17,728 SF

      210 Wall St

      LIGHT INDUSTRIAL • 17,728 SF
      210 Wall St, Tiffin, OH 44883-1439
      View Details
    • Value Estimation
      $780,000
      13,500 SF

      1930 County Rd 1st 1

      LIGHT INDUSTRIAL • 13,500 SF
      1930 County Rd 1st 1, Tiffin, OH 44883-8826
      View Details
    • Value Estimation
      $370,000
      21,544 SF

      Tr 158

      LIGHT INDUSTRIAL • 21,544 SF
      Tr 158, Tiffin, OH 44883
      View Details
    • Value Estimation
      $220,000
      0.54 Acres

      Greenfield St

      INDUSTRIAL (GENERAL) • 0.54 Acres
      Greenfield St, Tiffin, OH 44883
      View Details
    • Value Estimation
      $290,000
      5,280 SF

      423 Adams St

      INDUSTRIAL (GENERAL) • 5,280 SF
      423 Adams St, Tiffin, OH 44883-9284
      View Details
    • Value Estimation
      $3,355,000
      15,376 SF

      186 Ohio Ave

      FOOD PROCESSING • 15,376 SF
      186 Ohio Ave, Tiffin, OH 44883-1746
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Seneca County Farmland Auction

      233+/- acres of farmland in Seneca County, Ohio.
      S Township Road 113, Tiffin, OH 44883
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    • $149,900
      0.26 Acres

      Sycamore Street Tiffin Investment Opportunity

      Prime Tiffin, OH commercial lot. High potential for development.
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    • $400,287
      13 SF

      Industrial Land Ready For Development

      13 acres of heavy industrial land with utilities on site.
      South Parcel, Tiffin, OH 44883
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    • $200,000
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      Prime Commercial Lot in Tiffin

      3.648 acre commercial lot in high retail area.
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    • $285,000
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      Updated Duplex in Tiffin, OH

      Updated duplex with income potential and timeless charm in Tiffin.
      489 Hedges St, Tiffin, OH 44883
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    • New
      $314,900
      3,881 SF

      Downtown Tiffin Triplex with Income Potential

      Historic triplex in downtown Tiffin with Airbnb potential and four-car garage.
      117 E Perry St, Tiffin, OH 44883
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    Similar Nearby for Lease

    • Contact for pricing
      50,000 SF

      Industrial Space in Tiffin, Ohio

      Industrial property available for lease in Tiffin, Ohio.
      1150 Maule Rd, Tiffin, OH 44883
      View Details
    • Contact for pricing
      50,000 SF

      Tiffin Industrial Property for Lease

      Industrial space in Tiffin, Ohio, accessible by major highways.
      1364 Maule Rd, Tiffin, OH 44883
      View Details
    • $15 SF/Yr
      3,820 SF

      Redeveloped Retail Space Available

      31,306 SF retail space for lease in Tiffin, OH.
      870 W Market St, Tiffin, OH 44883
      View Details
    • $12 SF/Yr
      15,300 SF

      Prime Tiffin Medical Office Space

      15,300 SF Medical Office, Newly Renovated
      2499 Market St, Tiffin, OH 44883
      View Details
    • Contact for pricing
      11,180 SF

      Tiffin Retail Space - Prime Location

      11,180 SF Rite Aid Building, High Traffic
      530 Market St, Tiffin, OH 44883
      View Details
    • Contact for pricing
      2,307 SF

      Retail Space in Tiffin, Ohio

      End-cap retail space on main retail corner in Tiffin.
      2562 W Market St, Tiffin, OH 44883
      View Details
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    7381 State Rte 231
    Tiffin, OH 44883-8503
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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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