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Property profile & analytics
OFF-MARKET
Estimated value
$1,675,000
Apartment buildings
109 Nora Dr Frazeysburg, OH 43822-9657
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US66-3446406
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2004
Total area
15,120 SF
Lot
2.59 ac (112,777 SF)
APN
29-59-03-05-000
UPID
US66-3446406
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
$1.40M
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$1.68M
Owner & transaction history
Shalimar Properties LLC · 7 yrs held
Shalimar Properties LLC
since 2019
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.4M
+69.3%
Auto repair, garage
$1.6M
+15.4%
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 Frazeysburg submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Frazeysburg 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%
$1,515,000
6.5%
$1,400,000
7%
$1,300,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,390,000
Current use
RESTAURANT
$2,355,000
Change: +69% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,605,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$1,315,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$1.68M
Range $1.51M – $1.84M · ±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
$111 / 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
$24,908
Tax year 2023
Assessed value
$455,000
Assessed 2023
Previous assessed
$455,000
+0.0% YoY
Effective rate
5.47%
On assessed value
Assessed land
$29,225
Assessed improvement
$425,775
Land market value
$83,500
Improvement market value
$1,216,500
Total market value
$1,300,000
Applied tax rate
30.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2004
Heating
NONE
Stories
1
Total area
15,120 SF
Lot
2.59 ac (112,777 SF)
APN
29-59-03-05-000
UPID
US66-3446406
Jurisdiction
MUSKINGUM
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2004
Heating
NONE
Stories
1
Lot
2.59 ac
Current owner
From public records · entity-resolved
Shalimar Properties LLC
Entity
Mailing address
961 GRAFTON RD APT #3, NEWARK, OH 43055-4756
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2025
—
Shalimar Properties LLC
—
Deed
related
$2,500,000 · Wesbanco Bank INC
Apr 23, 2019
$2,000,000
Shalimar Properties LLC
Shalimar Ventures LLC
Warranty Deed
$1,600,000 · Wesbanco Bank INC
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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