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    Lakefront Lots at Absolute Auction Title is generated by Realmo AI

    Lakeside Drive, Lakemore, OH 44250

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    LAND - Lakemore, OH

    Lot size:
    0.45 Acres
    Added:
    Mar 19, 2026
    Days on Market:
    74
    Last Refresh:
    May 31 at 8:06 pm

    Property Features for Lakeside Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    5402806
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    REPLAT OF SUBLOTS 2-8 HERON POINT PHASE ONE LOT 3R ALL RN 55717100
    Tax Annual Amount
    1880

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Waterfront, Lake Front
    Water front
    1

    We can help!

    Listing Contact
    Jeff R Kiko

    Listing agent Jeff R Kiko License #2002002033

    Listing office Kiko 2722 Fulton Dr. NW, Dover, OH

    Listing date Mar 19, 2026

    MLS# 5194584 Listing URL

    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

    • Lakefront property on Springfield Lake with private dock access.
    • Two vacant lots totaling .4595 acres, zoned R4, offering development potential.
    • Absolute auction - property sells to the highest bidder.
    • All utilities are available at the street.
    • Located in Lakemore Village, Summit County, with Springfield LSD.
    • Opportunity for weekend getaway or residential development.

    Overview

    Two vacant lakefront lots are available at absolute auction in Lakemore, Ohio. The properties, zoned R4, are located in Summit County, within the Lakemore Village and Springfield Local School District. Online bidding begins on Wednesday, April 15, 2026, at 9:00 AM, with live on-site bidding commencing on Thursday, April 16, 2026, at 12:00 PM. The entirety of the land encompasses 0.4595 acres, with total dimensions of 120' x 145'. All utilities are accessible at the street. The site offers the potential to construct one or multiple homes with lake frontage, including a private dock providing access to Springfield Lake, which spans 289 acres. Real estate half-year taxes amount to $939.51. The property presents a development opportunity or a chance for a weekend retreat. It comprises four parcels: #5402806, 5402807, 5402805, and 5402804. Interested parties should contact Lakemore Village zoning to address specific requirements. Walking the property requires permission; contact the auctioneer. Auction #1 includes 0.2597 acres with 60' frontage and a shared dock, covering parcels 5402806 and 5402807. Auction #2 features 0.1998 acres with 60' frontage and a shared dock, encompassing parcels 5402805 and 5402804. Auctions 1 and 2 will be offered separately and together, with the sale determined by whichever option yields the highest bid.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Lakemore
    County
    Summit
    State
    Ohio
    Longitude
    -81.4414443
    Latitude
    41.0230433

    FAQs

    What type of property is this?
    Waterfront Land - Two vacant lakefront lots in Lakemore, OH, available at auction.
    Where is this waterfront land located?
    The property is located at Lakeside Drive Lakemore, OH.
    What are key features of this property?
    This property features: Lakefront property on Springfield Lake with private dock access.; Two vacant lots totaling .4595 acres, zoned R4, offering development potential.; Absolute auction - property sells to the highest bidder.
    (330) 206-1079
    We can help!
    Listing Contact
    Jeff R Kiko
    Real Estate License ID: 2002002033
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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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