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    Property profile & analytics

    104 Lee St Lodi, OH 44254

    • Warehouses
    • 34,400 SF
    • 1.74 lot acres
    For Sale
    View listing
    $975,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0576066
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 104 Lee St

    Year built
    1959
    Lot size
    1.74 lot acres
    Property size
    34,400 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    015-26A-08-061
    APU
    01526A08061

    Description

    This exceptional industrial property at 104 Lee Drive, Lodi, OH 44254, offers a substantial 34,890-square-foot warehouse on a 1.74-acre lot. Built in 1959, this Class B building features two structures, each single-story, and boasts 14-foot ceiling clearances throughout. The property includes two truck docks and five drive-in doors, providing ample access for loading and unloading. Power is supplied by a robust 3-phase, 2,800 AMP system. The property is zoned I-1, allowing for a variety of industrial uses. Conveniently located, it offers easy access to major transportation routes, with the I-71/OH-83 interchange just 3.8 miles away. The asking price is $975,000, translating to $28.34 per square foot. Annual real estate taxes are $11,488.64. The current tenant will vacate by March 31, 2025, presenting a significant opportunity for immediate occupancy or future development. The village of Lodi actively promotes quality commercial and industrial growth while maintaining its small-town charm. This property represents a compelling investment opportunity in a desirable location. The APN is 01526A08061|1.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lodi
    County
    Medina
    State
    Ohio
    Longitude
    -82.0195
    Latitude
    41.0334
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,301
    $26,940
    $167,460
    $194,400
    -
    $76,980
    $478,460
    $555,440

    Comparable in this City

    • Value Estimation
      $305,000
      1,764 SF

      9945 Greenwich Rd

      MINI-WAREHOUSE, STORAGE • 1,764 SF
      9945 Greenwich Rd, Lodi, OH 44254-9773
      View Details
    • Value Estimation
      $270,000
      220 SF

      8392 Harris Rd

      MINI-WAREHOUSE, STORAGE • 220 SF
      8392 Harris Rd, Lodi, OH 44254
      View Details
    • Value Estimation
      $325,000
      6,958 SF

      Railroad St

      MINI-WAREHOUSE, STORAGE • 6,958 SF
      Railroad St, Lodi, OH 44254
      View Details
    • Value Estimation
      $460,000
      32,240 SF

      111 Ww Dr

      MINI-WAREHOUSE, STORAGE • 32,240 SF
      111 Ww Dr, Lodi, OH 44254-1061
      View Details
    • Value Estimation
      $285,000
      3,600 SF

      Swamp Rd

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      Swamp Rd, Lodi, OH 44254
      View Details
    • Value Estimation
      $305,000
      6,624 SF

      9300 Avon Lk Rd

      MINI-WAREHOUSE, STORAGE • 6,624 SF
      9300 Avon Lk Rd, Lodi, OH 44254-9715
      View Details

    Similar Nearby for Sale

    • $1,200,000
      34,400 SF

      34,400 SF Warehouse For Sale

      34,400 SF warehouse on 1.74 acres, available March 2025.
      104 Lee St, Lodi, OH 44254
      View Details
    • $975,000
      34,890 SF

      Lodi Warehouse: Prime Industrial Site

      34,890 SF Warehouse, 1.74 Acres
      104 Lee St, Lodi, OH 44254
      View Details
    • $1,550,000
      10,725 SF

      Freestanding Building in Lodi, Ohio

      Well-maintained building in Lodi, Ohio, with high visibility.
      116 Ainsworth St, Lodi, OH 44254
      View Details
    • Contact for pricing
      1,715 SF

      Lodi Office Building - Great Potential

      Spacious Office, Updated, Prime Location
      113 Harris St, Lodi, OH 44254
      View Details
    • $250,000

      Commercial Land with Road Frontage

      Commercial land with frontage on SR-83 and White Rd.
      Avon Lake Rd, Lodi, OH 44254
      View Details
    • Contact for pricing
      65,000 SF

      Shovel Ready Industrial Land

      Industrial land with utilities, tax abatement, and highway access.
      Avon Lake Rd, Lodi, OH 44254
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      2,400 SF

      Lodi Warehouse with Office Space

      2,400 SF warehouse with air-conditioned office and three garage doors.
      118 Highland Dr, Lodi, OH 44254
      View Details
    • Contact for pricing
      4,000 SF

      Renovated Retail Space Available

      4,000 SF retail unit, divisible, with excellent visibility.
      661-663 Wooster St, Lodi, OH 44254
      View Details
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    Lodi, OH 44254
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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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