166 Milan AveNorwalk, OH 44857

Property Details for 166 Milan Ave

Year built

1956

Lot size

1.29 AC

Property size (Sq ft)

3,600 SF

Property type

Office properties

Property subtype

Office buildings

APN

33-0290-03-001-0000

APU

330290030010000

Description

This exceptional 1,000 square foot office space is available for sublease at 166 Milan Avenue in Norwalk, Ohio. Situated on a 1.29-acre lot, this property boasts high visibility and excellent accessibility with two curb cuts, catering to a daily traffic count of 12,283 vehicles. The lease includes all property taxes, insurance, maintenance, and utilities, simplifying budgeting and operational costs. The space features five handicap-accessible offices currently undergoing renovations, providing a modern and inclusive work environment. Shared amenities include a conference room, breakroom, and restrooms, enhancing convenience and collaboration. A private entrance and integrated security and sprinkler systems ensure safety and peace of mind. The current rental price is $2000, but is negotiable depending on the tenant's space requirements. A large open space at the rear of the building may be included in the lease agreement. This build-to-suite option offers flexibility for businesses seeking to customize their workspace. Located in the heart of Huron County, this property offers an ideal location for businesses seeking high visibility and convenient access. The November 2024 update includes the possibility of including a large open space in the back of the building as part of the lease.

• CAP approach

  CAP return

  Valuation

  6%

  $678,062

  6.5%

  $625,904

  7%

  $581,196

• Comparable approach

  Method

  Valuation

  Relative Method

  $336,744

  Geo Method

  $336,744

• Alternative Use

  Use

  Valuation

  Residential

  $776,121

  Hospitality

  $710,922

  Educational

  $591,479

  Medical

  $611,821

  Retail

  $920,078

Location Insight

City

Norwalk

County

Huron

State

Ohio

Latitude

41.2553

Longitude

-82.6113

CBSA code

35940

CBSA name

NORWALK, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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