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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Flex space
1206 High St Fairport Harbor, OH 44077-5559
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-1387047
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1998
Total area
9,654 SF
Lot
2 ac (87,120 SF)
Zoning code
R-1
APN
14-A-025-0-00-011-0
UPID
US66-1387047
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
$630k
CAP Approach
CAP
$570k
Comparable Approach
Comparable
$616k
Blend (final)
Blend
$625k
Owner & transaction history
Wet Building LLC · 2 yrs held
Wet Building LLC
since 2023
Last sale
$625,000
6 recorded transactions
Zoning & alternative use
R-1 · Fairport Harbor, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
1129.01 STANDARDS ADOPTED.
Top alternative use upside
Office building
$855,000
+103.2%
Auto repair, garage
$810,000
+92.1%
Medical building
$680,000
+61.2%
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 Fairport Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fairport Harbor 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
$675,000
ML approach
$630,000
CAP Approach
CAP Return
Estimation
6%
$620,000
6.5%
$570,000
7%
$530,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$420,000
Current use
OFFICE BUILDING
$855,000
Change: +103% · Conversion: Difficult
AUTO REPAIR, GARAGE
$810,000
Change: +92% · Conversion: Easy
MEDICAL BUILDING
$680,000
Change: +61% · Conversion: Difficult
COMMERCIAL (GENERAL)
$585,000
Change: +39% · Conversion: Difficult
WAREHOUSE, STORAGE
$545,000
Change: +30% · Conversion: Easy
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $625k (Nov 7 2023)
Last sale anchor
$625k
Nov 7 2023
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
$65 / 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
$16,326
Tax year 2023
Assessed value
$126,900
Assessed 2023
Previous assessed
$126,900
+0.0% YoY
Effective rate
12.87%
On assessed value
Assessed land
$26,510
Assessed improvement
$100,390
Land market value
$75,740
Improvement market value
$286,820
Total market value
$362,560
Applied tax rate
14.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
9,654 SF
Lot
2 ac (87,120 SF)
Zoning code
R-1
APN
14-A-025-0-00-011-0
UPID
US66-1387047
Jurisdiction
LAKE
Zoning & alternative use
R-1 · Fairport Harbor, OHZoning R-1 · permitted uses
R-1 · Fairport Harbor, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
1129.01 STANDARDS ADOPTED.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$420,000
OFFICE BUILDING
Est. value
$855,000
AUTO REPAIR, GARAGE
Est. value
$810,000
MEDICAL BUILDING
Est. value
$680,000
COMMERCIAL (GENERAL)
Est. value
$585,000
WAREHOUSE, STORAGE
Est. value
$545,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1998
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2 ac
Current owner
From public records · entity-resolved
Wet Building LLC
Entity
Mailing address
5542 GRACE DR, MENTOR, OH 44060-1522
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 7, 2023
$625,000
Wet Building LLC
Lj Properties LLC
Warranty Deed
$1,100,000 · Northwest Bank
Jan 14, 2016
—
Lj Properties LLC
—
Trustees Deed
related
$174,000 · Small Busn Cap
Jul 1, 2015
$417,000
Lj Properties LLC
Crozier Properties LLC
Warranty Deed
$2,085,000 · Jpmorgan Chase Bank NA
Aug 14, 2002
—
Crozier Properties LLC
—
Deed Of Trust
related
$2,000,000 · Firstmerit Bank NA
—
—
Lj Properties LLC
—
Deed Of Trust
related
$35,000 · Miscellaneous Govt Agcy
—
—
Crozier Properties LLC
—
Deed Of Trust
related
$280,000 · Firstmerit Bank NA
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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