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Property profile & analytics
OFF-MARKET
Estimated value
$8,085,000
Grocery and convenience stores
10604 Lorain Ave 10950 Cleveland, OH 44111-5411
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US66-2631981
Property summary
AI-generated overview
Westown Square, located at 10604 Lorain Ave in Cleveland, Ohio (zip code 44111), offers a prime retail opportunity in Cuyahoga County. This multi-tenant commercial property boasts a total of 175,030 square feet and currently has two available suites totaling 5,750 square feet of vacant space. Individual suites range in size from a minimum of 2,250 square feet to a maximum contiguous space of 3,500 square feet, providing flexibility for various business needs. The property's strategic location in Cleveland offers excellent visibility and accessibility for customers. This is an exceptional chance to establish or expand your retail presence in a well-established commercial center. The property is classified as retail commercial space and is ready for immediate occupancy. Interested parties should inquire about lease terms and availability. The property's latitude and longitude coordinates are 41.464908 and -81.7599507 respectively.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1988
Construction
TYPE NOT SPECIFIED
Total area
70,200 SF
Lot
15.3 ac (666,620 SF)
Zoning code
SC
APN
005-13-001
UPID
US66-2631981
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.38M
Comparable Approach
Comparable
$7.74M
Blend (final)
Blend
$8.09M
Owner & transaction history
Westown Investors LLC · 13 yrs held
Westown Investors LLC
since 2012
4 recorded transactions
Zoning & alternative use
SC · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.8M
+163.2%
Office building
$11.4M
+152.4%
Medical building
$7.6M
+69.5%
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 Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland 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%
$11,240,000
6.5%
$10,375,000
7%
$9,635,000
Alternative Use
Use
Estimation
RESTAURANT
$11,840,000
Change: +163% · Conversion: Easy
OFFICE BUILDING
$11,355,000
Change: +152% · Conversion: Easy
MEDICAL BUILDING
$7,630,000
Change: +70% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,110,000
Change: +58% · Conversion: Moderate
AUTO REPAIR, GARAGE
$6,245,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,815,000
Change: +29% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,195,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$8.09M
Range $7.28M – $8.89M · ±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
$115 / 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
$298,897
Tax year 2023
Assessed value
$2,947,320
Assessed 2023
Previous assessed
$2,947,320
+0.0% YoY
Effective rate
10.14%
On assessed value
Assessed land
$1,045,280
Assessed improvement
$1,902,040
Land market value
$2,986,500
Improvement market value
$5,434,400
Total market value
$8,420,900
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1988
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
5
Stories
1
Total area
70,200 SF
Lot
15.3 ac (666,620 SF)
Zoning code
SC
APN
005-13-001
UPID
US66-2631981
Jurisdiction
CUYAHOGA
Zoning & alternative use
SC · Cleveland, OH
Zoning SC · permitted uses
SC · Cleveland, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$11.8M
OFFICE BUILDING
Est. value
$11.4M
MEDICAL BUILDING
Est. value
$7.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$5.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.2M
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1988
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Lot
15.3 ac
Current owner
From public records · entity-resolved
Westown Investors LLC
Entity
Mailing address
1825 MAIN ST, WESTON, FL 33326-3683
Ownership since
2012
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 18, 2012
$7,250,000
Westown Investors LLC
E & A Northeast LP
Grant Deed
—
Aug 27, 1998
$19,780,000
Acquisition Ds
Ds Investments Ltd
Grant Deed
—
—
—
Westown Investorsm LLC
—
Deed Of Trust
related
$169,000,000 · Morgan Stanley Bk
—
—
Westown Investors LLC
—
Deed Of Trust
related
$4,680,000 · New York Community 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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