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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Medical Office Space
1012 State Rte 521 Delaware, OH 43015-8003
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US66-1741320
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Total area
6,000 SF
Lot
2.6 ac (113,125 SF)
APN
519-444-01-004-000
UPID
US66-1741320
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Delaware Smile Center Dental Office
-
Rajan K. Sheth, DDS Dental Office
-
Brian E. Leaf, DC Alternative Medicine Practice
-
Advanced Hormone Solutions Medical Clinic
-
Dr. Joseph Papp Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$975k
Comparable Approach
Comparable
$478k
Blend (final)
Blend
$750k
Owner & transaction history
City Of Delaware Oh · 18 yrs held
City Of Delaware Oh
since 2007
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+20.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Delaware submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Delaware submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,055,000
6.5%
$975,000
7%
$905,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$985,000
Current use
COMMERCIAL (GENERAL)
$1,185,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$880,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$750k
Range $675k – $825k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$125 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$25,216
Tax year 2023
Assessed value
$450,390
Assessed 2023
Previous assessed
$381,750
+18.0% YoY
Effective rate
5.60%
On assessed value
Assessed land
$79,140
Assessed improvement
$371,250
Land market value
$226,100
Improvement market value
$1,060,700
Total market value
$1,286,800
Applied tax rate
50.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Heating
YES
Cooling
YES
Stories
1
Total area
6,000 SF
Lot
2.6 ac (113,125 SF)
APN
519-444-01-004-000
UPID
US66-1741320
Jurisdiction
DELAWARE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$985,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$880,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Heating
YES
Cooling
Yes
Stories
1
Lot
2.6 ac
Current owner
From public records · entity-resolved
City Of Delaware Oh
Entity
Mailing address
1012 STATE RTE 521, DELAWARE, OH 43015-8003
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2012
—
Mikhan Properties LLC
—
Deed Of Trust
related
$1,200,000 · Pnc Bank
Aug 23, 2007
—
City Of Delaware Oh
Mikhan Properties LLC
Grant Deed
—
Dec 8, 2006
$163,000
Mikhan Properties LLC
Mary Fran Cassidy
Warranty Deed
$237,600 · Jpmorgan Chase Bank NA
—
—
Mikhan Properties LLC
—
Deed Of Trust
related
$58,375 · Pnc Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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