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

    831 Michigan St Port Clinton, OH 43452-1630

    • Residential income homes
    • 2,832 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Sep 27, 2024
    $65,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1893490
    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

    • Residential income homes

    Property Details for 831 Michigan St

    Year built
    1947
    Lot size
    0.27 lot acres
    Property size
    2,832 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    021-18330-24580-000
    APU
    211833024580000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Clinton
    County
    Ottawa
    State
    Ohio
    Longitude
    -82.9544
    Latitude
    41.5095
    CBSA code
    45780
    CBSA name
    TOLEDO, 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
    $748
    $3,049
    $12,880
    $15,929
    -
    $8,710
    $36,800
    $45,510

    Comparable in this City

    • Value Estimation by Request
      2,832 SF

      828 Michigan St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,832 SF
      828 Michigan St, Port Clinton, OH 43452-1631
      View Details
    • Value Estimation by Request
      3,808 SF

      119 12th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,808 SF
      119 12th St, Port Clinton, OH 43452-2400
      View Details
    • Value Estimation
      $525,000
      6,048 SF

      222 2nd St

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,048 SF
      222 2nd St, Port Clinton, OH 43452-1178
      View Details
    • Value Estimation by Request
      2,688 SF

      904 Ohio St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,688 SF
      904 Ohio St, Port Clinton, OH 43452-1632
      View Details
    • Value Estimation by Request
      2,760 SF

      435 Huron Ct

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,760 SF
      435 Huron Ct, Port Clinton, OH 43452-1624
      View Details
    • Value Estimation by Request
      2,494 SF

      402 Lincoln Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,494 SF
      402 Lincoln Dr, Port Clinton, OH 43452-2066
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Lake Erie Development Opportunity

      Development opportunity near Lake Erie with condominium and boat storage potential.
      2965 South Danbury Rd, Port Clinton, OH 43452
      View Details
    • $765,000
      2,017 SF

      Catawba Island Waterfront Condominium

      Professionally decorated condominium with lake views and marina access.
      4333 Marin Woods, Port Clinton, OH 43452
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    • $849,900
      12.56 Acres

      Port Clinton Acreage with Campground

      12.559 acres with frontage and seasonal campground.
      5601 E Pittsburgh St, Port Clinton, OH 43452
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    • Contact for pricing
      44.50 Acres

      Lake Erie Multifamily Land

      Prime Ohio development opportunity.
      2965 Danbury Rd, Port Clinton, OH 43452
      View Details
    • $204,900

      Waterfront Condo with Marina Access

      Furnished condo with lake views, marina, and community amenities.
      306 Clinton Reef Dr, Port Clinton, OH 43452
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    • $149,900

      Three-Bedroom Mobile Home

      Mobile home with updated kitchen and screened porch.
      265 S Meachem Rd, Port Clinton, OH 43452
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    Similar Nearby for Lease

    • $2 SF/Yr
      12,000 SF

      Port Clinton Commercial Land Lease

      Four Kroger outlot ground leases available.
      2006 Harbor Rd, Port Clinton, OH 43452
      View Details
    • $14 SF/Yr
      9,300 SF

      East Harbor Road Retail/Office Space

      Prime Retail & Office, Immediate Occupancy
      2853 Harbor Rd, Port Clinton, OH 43452
      View Details
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    831 Michigan St
    Port Clinton, OH 43452-1630
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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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