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    Remodeled Commercial Building on Corner Lot Title is generated by Realmo AI

    3619 Liberty Avenue, Vermilion, OH 44089

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    For Sale
    $200,000

    SINGLE_FAMILY - Vermilion, OH

    Type:Retail
    Lot size:
    0.64 Acres
    Added:
    Mar 3, 2026
    Days on Market:
    80
    Last Refresh:
    May 22 at 2:06 am

    Property Features for 3619 Liberty Avenue

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking
    25
    Standard status
    Active
    APN
    01-00-003-128-053
    Lot size
    0.64 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    VERMILION ON THE LAKE SUB NO 3 160.05 X 180.74
    Tax Annual Amount
    5035

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1989

    We can help!

    Listing Contact
    Thomas D Kazanas

    Listing agent Thomas D Kazanas License #2019000263

    Listing office HomeSmart Real Estate Momentum LLC 8518 Mentor Avenue, Suite C, Mentor, OH

    Listing date Mar 3, 2026

    MLS# 5167053

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Recently remodeled with $40,000+ in 2022 improvements
    • High‑visibility corner lot location on Liberty Ave
    • Ample parking with space for 20+ cars
    • Potential to split the building for two tenants
    • Currently generating $1900 monthly rental income
    • Zoned B3 with potential for outside use variance

    Overview

    This recently remodeled commercial building features over $40,000 in improvements from a 2022 buildout. The stand-alone building is situated on a spacious corner lot, offering high visibility for signage on Liberty Ave in Vermilion. A wide stamped concrete front porch enhances the property's appeal. The parking lot accommodates over 20 cars. Located minutes from downtown Vermilion, marinas, and restaurants, the property is currently zoned B3. Permitted uses are detailed in the supplements. The current use is as a Tattoo parlor. The owner or tenant may obtain a Variance for outside use. The building can be split into two for separate tenants. The property owner has an interest in the tenant's business. The property is currently rented for $1900 monthly, with the lessor responsible for taxes, snow removal, and lawn care. The lot size is 0.64 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Reflection Room Tattoo ... Tattoo & Piercing Shop Salon Zero Eight ... Hair Salon

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vermilion
    County
    Erie
    State
    Ohio
    Longitude
    -82.319397
    Latitude
    41.424431

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    FAQs

    What type of property is this?
    Storefront property - Remodeled commercial building on corner lot with high visibility.
    Where is this storefront property located?
    The property is located at 3619 Liberty Avenue Vermilion, OH.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Recently remodeled with $40,000+ in 2022 improvements; **High‑visibility corner lot location on Liberty Ave**; Ample parking with space for 20+ cars
    (440) 829-4457
    We can help!
    Listing Contact
    Thomas D Kazanas
    Real Estate License ID: 2019000263
    Learn More
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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.

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