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    870 W Market St Tiffin, OH 44883
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    Property profile & analytics

    870 W Market St Tiffin, OH 44883

    View on Map
    • Community centers
    • 271,282 SF
    • 26.73 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Redeveloped Retail Space Available For Lease
    $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
    View Listing
    Property ID
    US66-2856682
    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.
    Value Estimations
    $785,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Community centers

    Property Details for 870 W Market St

    Year built
    1980
    Construction
    FRAME
    Lot size
    26.73 lot acres
    Property size
    271,282 SF
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    Q53031266520000
    APU
    Q53031266520000

    Description

    This 0.7-acre commercial land parcel presents a unique investment opportunity at the redeveloped Tiffin Mall in Tiffin, Ohio (44883). Located at 870 W Market St, this signalized outparcel boasts exceptional visibility and accessibility, situated directly adjacent to Take 5 Car Wash and Panda Express. The property offers up to 40,000 square feet of potential retail space, adaptable to various tenant specifications. Benefit from the strong existing tenant mix, including Hobby Lobby (opening Spring 2024), Planet Fitness, Cinemark, Panda Express, Jimmy Johns, and AT&T. This prime location enjoys proximity to a wealth of established retailers such as Walmart, Kroger, Aldi, Lowe's, Harbor Freight, Tractor Supply Co, and Big Lots, as well as numerous restaurants including Chipotle, Arby's, Dunkin', McDonald's, Burger King, and Buffalo Wild Wings. Further enhancing its appeal is its close proximity to Mercy Health Tiffin Hospital. Monument signage opportunities are also available, maximizing brand visibility. The asking price for this exceptional retail land parcel is $800,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $950,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tiffin
    County
    Seneca
    State
    Ohio
    Longitude
    -83.2115
    Latitude
    41.1123
    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
    $46,166
    $362,390
    $269,150
    $631,540
    -
    $1,035,400
    $769,000
    $1,804,400

    Comparable in this City

    • Value Estimation
      $3,695,000
      100,811 SF

      680 Market St

      MINI-MALL • 100,811 SF
      680 Market St, Tiffin, OH 44883-2516
      View Details
    • Value Estimation
      $970,000
      23,000 SF

      748 Market St

      MINI-MALL • 23,000 SF
      748 Market St, Tiffin, OH 44883-2521
      View Details
    • Value Estimation by Request
      2,300 SF

      596 Market St

      SHOPPING CENTER, STRIP CENTER • 2,300 SF
      596 Market St, Tiffin, OH 44883-2682
      View Details
    • Value Estimation by Request
      5,500 SF

      2562 Market St, Unit 2576

      SHOPPING CENTER, STRIP CENTER • 5,500 SF
      2562 Market St, Tiffin, OH 44883-9005
      View Details
    • Value Estimation by Request
      4,884 SF

      1660 Market St

      SHOPPING CENTER, STRIP CENTER • 4,884 SF
      1660 Market St, Tiffin, OH 44883-2536
      View Details
    • Value Estimation by Request
      7,505 SF

      709 Market St, Unit 719

      SHOPPING CENTER, STRIP CENTER • 7,505 SF
      709 Market St, Tiffin, OH 44883-2519
      View Details

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    Similar Nearby for Lease

    • $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
    • Contact for pricing
      2,307 SF

      Retail Space in Tiffin, Ohio

      End-cap retail space on main retail corner in Tiffin.
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      4,700 SF

      Retail Space on W Market

      Retail space available with high visibility on W Market St.
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      50,000 SF

      Tiffin Industrial Property for Lease

      Industrial space in Tiffin, Ohio, accessible by major highways.
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      50,000 SF

      Industrial Space in Tiffin, Ohio

      Industrial property available for lease in Tiffin, Ohio.
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      View Details
    • Contact for pricing

      Medical Office in Retail Setting

      Medical office space in a lively retail environment.
      2499 W Market St, Tiffin, OH 44883
      View Details
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    Tiffin, OH 44883
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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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