219 Milan AveNorwalk, OH 44857

Property Details for 219 Milan Ave

Year built

1997

Lot size

0.71 AC

Property size (Sq ft)

3,066 SF

Property type

Retail properties

Property subtype

Other car washes

APN

33-003N-04-001-0300

APU

33003N040010300

Description

This exceptional 0.71-acre commercial outlot presents a unique investment opportunity in the thriving retail heart of Norwalk, Ohio. Strategically located directly in front of a Walmart Supercenter, this property boasts unparalleled visibility and accessibility. The site is zoned to accommodate a wide range of commercial uses, including retail, restaurants, drive-thrus, and automotive businesses. This prime location benefits from high traffic counts and a strong customer base drawn to the surrounding retail anchors. Nearby establishments include ALDI, Chipotle, Dunkin', Arby's, KFC, McDonald's, and numerous other popular restaurants and retailers. The surrounding area demonstrates significant economic strength, with an average household income exceeding $76,851 within a 5-mile radius and a population of 26,981 within the same proximity. This property is ideal for developers seeking a high-traffic location with excellent visibility or businesses looking for a build-to-suit opportunity in a densely populated and affluent area. The ground lease option provides flexibility for investors seeking passive income, while the build-to-suit option allows for customized development to meet specific business needs. Don't miss this chance to secure a premier commercial location in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $848,900

  6.5%

  $783,600

  7%

  $727,629

• Comparable approach

  Method

  Valuation

  Relative Method

  $722,720

  Geo Method

  $722,720

• Alternative Use

  Use

  Valuation

  Residential

  $660,996

  Hospitality

  $605,469

  Educational

  $503,743

  Medical

  $521,067

  Retail

  $783,600

Location Insight

City

Norwalk

County

Huron

State

Ohio

Latitude

41.2607

Longitude

-82.6123

CBSA code

35940

CBSA name

NORWALK, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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