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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Warehouses
1224 Lear Industrial Pkwy Avon, OH 44011-1367
Entity Owned
7-yr Hold
Free & Clear
Property ID
US66-2234559
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2006
Total area
7,792 SF
Lot
1.03 ac (44,867 SF)
APN
04-00-021-000-177
UPID
US66-2234559
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
Current use
Occupant on record · Public records
-
R. A. Gibson & Associates, Inc. Well Drilling Contractor Oil & Natural Gas Company
-
Gibson Well Services Oil & Natural Gas Company Engineering Consultant
-
Relational Systems, Inc. Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$652k
Blend (final)
Blend
$780k
Owner & transaction history
524 Properties LLC · 7 yrs held
524 Properties LLC
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+92.4%
Apartment house (5+ units)
$1.1M
+71.0%
Office building
$755,000
+18.4%
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 Avon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Avon 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$635,000
Current use
RESTAURANT
$1,225,000
Change: +92% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,085,000
Change: +71% · Conversion: Difficult
OFFICE BUILDING
$755,000
Change: +18% · Conversion: Difficult
MEDICAL BUILDING
$725,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$640,000
Change: +1% · Conversion: Easy
COMMERCIAL (GENERAL)
$640,000
Change: +1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$600,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$780k
Range $702k – $858k · ±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
$100 / 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
$13,213
Tax year 2023
Assessed value
$205,825
Assessed 2023
Previous assessed
$205,820
+0.0% YoY
Effective rate
6.42%
On assessed value
Assessed land
$30,643
Assessed improvement
$175,182
Land market value
$87,550
Improvement market value
$500,520
Total market value
$588,070
Applied tax rate
10.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
7,792 SF
Lot
1.03 ac (44,867 SF)
APN
04-00-021-000-177
UPID
US66-2234559
Jurisdiction
LORAIN
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
WAREHOUSE, STORAGE Current
Est. value
$635,000
RESTAURANT
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$755,000
MEDICAL BUILDING
Est. value
$725,000
AUTO REPAIR, GARAGE
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$640,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$600,000
WAREHOUSE, STORAGE Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2006
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
524 Properties LLC
Entity
Free & Clear · 7 yrs held
Mailing address
32254 COUNTRY CLB DR, AVON LAKE, OH 44012-2720
Ownership since
2018
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
Dec 28, 2018
—
524 Properties LLC
Ronald A Gibson & Assocs INC
Warranty Deed
related
—
Jul 22, 2005
$95,000
Ronald A Gibson & Assocs INC
Barto,robert C
Warranty Deed
—
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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