Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    119 Elmwood Ave Medina, OH 44256-1826

    • Office buildings
    • 1,924 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1327484
    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

    • Lake Shore Insurance Agency / Insurance Agency

    Property Details for 119 Elmwood Ave

    Year built
    1917
    Construction
    WOOD
    Lot size
    0.09 lot acres
    Property size
    1,924 SF
    Property type
    Office buildings
    APN
    028-19A-21-094
    APU
    02819A21094

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Medina
    County
    Medina
    State
    Ohio
    Longitude
    -81.8662
    Latitude
    41.1397
    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
    $2,300
    $17,390
    $22,030
    $39,420
    -
    $49,680
    $62,950
    $112,630

    Comparable in this City

    • Value Estimation by Request
      10.33 Acres

      Blue Heron Trce

      OFFICE BUILDING • 10.33 Acres
      Blue Heron Trce, Medina, OH 44256
      View Details
    • Value Estimation by Request
      1,689 SF

      345 Washington St

      OFFICE BUILDING • 1,689 SF
      345 Washington St, Medina, OH 44256-2116
      View Details
    • Value Estimation
      $790,000
      6,244 SF

      4996 Foote Rd

      OFFICE BUILDING • 6,244 SF
      4996 Foote Rd, Medina, OH 44256-8775
      View Details
    • Value Estimation
      $6,265,000
      50,633 SF

      84 Medina Rd

      OFFICE BUILDING • 50,633 SF
      84 Medina Rd, Medina, OH 44256-9616
      View Details
    • Value Estimation
      $3,450,000
      28,456 SF

      246 Northland Dr

      OFFICE BUILDING • 28,456 SF
      246 Northland Dr, Medina, OH 44256-3441
      View Details
    • Value Estimation by Request
      572 SF

      4375 Pearl Rd

      OFFICE BUILDING • 572 SF
      4375 Pearl Rd, Medina, OH 44256
      View Details

    Similar Nearby for Sale

    • $1,500,000
      13,380 SF

      Medina Retail & Office Complex

      Prime Medina location, 13,380 SF, 3 buildings.
      3900 Pearl Rd, Medina, OH 44256
      View Details
    • Contact for pricing
      5.47 Acres

      Medina Office & Retail Land

      Prime Medina location, 5.47 acres.
      4000 Carrick Dr, Medina, OH 44256
      View Details
    • $1,500,000
      13,380 SF

      Prime Medina Retail/Office Trio

      13,380 SF, $1.5M, High Growth Area
      3900 Pearl Rd, Medina, OH 44256
      View Details
    • $445,000
      3,520 SF

      Medina Retail/Office Condominium For Sale

      Retail/office condominium in active corridor, suitable for various uses.
      3575 Medina Rd, Medina, OH 44256
      View Details
    • $445,000
      2,188 SF

      Medina Office Building For Sale

      2,188 SF office building on 0.498 AC available for sale.
      708 E Smith Rd, Medina, OH 44256
      View Details
    • $348,000
      2,934 SF

      Medina Mixed-Use Investment

      Prime Medina location, dual income streams.
      665 Lafayette Rd, Medina, OH 44256
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      20,000 SF

      Modern Office Building in Medina

      80,000 SF office building with easy interstate access.
      1093 Medina Rd, Medina, OH 44256
      View Details
    • $300 /Mo
      51,300 SF

      Medina Office Building For Lease

      Prime Medina location with leasing opportunities and building amenities.
      3637 Medina Rd, Medina, OH 44256
      View Details
    • $700 /Mo
      250 SF

      Renovated Office Building in Medina

      Three-level office building with renovated interior and included utilities.
      124 Lafayette Rd, Medina, OH 44256
      View Details
    • $12 SF/Yr
      72,000 SF

      Akron Medina Corporate Park Office Space

      Prime Medina Office/Warehouse Space Available
      1035-1065 Medina Rd, Medina, OH 44256
      View Details
    • $19 SF/Yr
      2,000 SF

      Medina Road Office Space

      2,000 SF office suite with excellent highway access.
      3645-3647 Medina Rd, Medina, OH 44256
      View Details
    • $7,600 /Mo
      132,753 SF

      Medina Commercial Space For Lease

      Highly visible commercial space suitable for retail, office, or showroom.
      998 N Court St, Medina, OH 44256
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    119 Elmwood Ave
    Medina, OH 44256-1826
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.