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    4705 Liberty Ave Vermilion, OH 44089

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    4705 Liberty Ave Vermilion, OH 44089

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    • Retail properties & Spaces
    • 105,911 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dollar General / Discount Store
    • FedEx OnSite / Postal Service / Courier Service
    • Western Union / Bank / Credit Union
    • South Shore Plaza / Business Service Center / Corporate Office

    Property Details for 4705 Liberty Ave

    Year built
    1965
    Property size
    105,911 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    South Shore Plaza offers exceptional executive office and showroom space in Vermilion, Ohio. This Class B property, situated on an expansive 18-acre lot at 4705 Liberty Ave, boasts a total of 105,911 square feet across six buildings. Currently, there are 6,875 square feet of vacant space available, divisible into units as small as 1,000 square feet, with a maximum contiguous space of 2,500 square feet. The property is ideally suited for multiple tenants, offering flexibility for businesses of varying sizes. Built in 1965, the South Shore Plaza benefits from its high-traffic location and zoning that permits retail, office, and showroom uses. The property's strategic placement at a signalized intersection provides excellent visibility and accessibility. Signage opportunities are also available, enhancing marketing potential. Located in Erie County, Ohio, with a 44089 zip code, this property presents a compelling opportunity for businesses seeking a well-situated and versatile office environment. The property's ample lot size and multiple buildings offer significant potential for expansion or customization. This is a rare opportunity to secure prime commercial space in a thriving Vermilion location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Vermilion
    County
    Erie
    State
    Ohio
    Longitude
    -82.3503
    Latitude
    41.425

    Comparable in this City

    • Value Estimation
      $570,000
      3,543 SF

      2813 Liberty Ave

      SHOW ROOM, WAREHOUSE • 3,543 SF
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    • Value Estimation by Request

      4414 Liberty Ave

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      4414 Liberty Ave, Vermilion, OH 44089
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      2,640 SF

      15010 Haber Rd

      Retail properties & Spaces • 2,640 SF
      15010 Haber Rd, Vermilion, OH 44089
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      13,447 SF

      4686 Liberty Ave

      Restaurants • 13,447 SF
      4686 Liberty Ave, Vermilion, OH 44089
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    • Value Estimation by Request
      1,250 SF

      5571 Liberty Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,250 SF
      5571 Liberty Ave, Vermilion, OH 44089-1309
      View Details
    • Value Estimation by Request
      3,040 SF

      2951 Liberty Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,040 SF
      2951 Liberty Ave, Vermilion, OH 44089-2534
      View Details

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    Similar Nearby for Lease

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      Vermilion Retail/Office Space Available

      Retail/office space in high-traffic area with signage.
      4705 Liberty Ave, Vermilion, OH 44089
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      1,000 SF

      Vermilion Retail/Office/Showroom Space Available

      High-traffic retail/office/showroom space with signage available in Vermilion, OH.
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      6,450 SF

      Vermilion Retail Space with Basement

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    • $13 SF/Yr
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      Retail Suites in Portland Plaza

      Retail suites available in Portland Plaza with 11' ceilings.
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      Retail Space Available For Rent

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      5,600 SF

      Retail Space in Amherst, Ohio

      Retail space available near anchor tenants in Amherst, Ohio.
      1901-1971 Cooper Foster Park Rd, Amherst, OH 44089
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    4705 Liberty Ave
    Vermilion, OH 44089
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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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