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Property profile & analytics
OFF-MARKET
Estimated value
$1,695,000
Office buildings
123 Broad St Lancaster, OH 43130-4304
Entity Owned
1-yr Hold
Free & Clear
Property ID
US66-0267281
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1900
Total area
21,538 SF
Lot
0.32 ac (14,026 SF)
APN
053-50423.00
UPID
US66-0267281
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
-
55 Gallon Drums Lancaster Big Box & Wholesale Store Factory
-
Aztec 942 Cos Building Supply
-
Gordon Flesch Company Big Box & Wholesale Store
-
Chase Mortgage Loan Service Bank
-
El Parian Steaks & Tequila - Lancaster Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.70M
Owner & transaction history
123 N Broad LLC · 1 yrs held
123 N Broad LLC
since 2024
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.4M
+56.3%
Retail stores
$2.2M
+40.9%
Commercial (general)
$1.9M
+21.1%
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 Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster 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
$1,640,000
ML approach
$1,645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,535,000
Current use
AUTO REPAIR, GARAGE
$2,400,000
Change: +56% · Conversion: Difficult
RETAIL STORES
$2,165,000
Change: +41% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,860,000
Change: +21% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,320,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.70M
Range $1.53M – $1.86M · ±10% · vs last sale $1.75M (Apr 9 2020)
Last sale anchor
$1.75M
Apr 9 2020
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
$79 / 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
$26,601
Tax year 2023
Assessed value
$293,610
Assessed 2023
Previous assessed
$293,610
+0.0% YoY
Effective rate
9.06%
On assessed value
Assessed land
$27,370
Assessed improvement
$266,240
Land market value
$78,200
Improvement market value
$760,690
Total market value
$838,890
Applied tax rate
53.0000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1900
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
3
Total area
21,538 SF
Lot
0.32 ac (14,026 SF)
APN
053-50423.00
UPID
US66-0267281
Jurisdiction
FAIRFIELD
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
OFFICE BUILDING Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1900
Heating
YES
Cooling
Yes
Stories
3
Buildings
2
Lot
0.32 ac
Current owner
From public records · entity-resolved
123 N Broad LLC
Entity
Free & Clear · 1 yrs held
Mailing address
133 S BROAD ST, LANCASTER, OH 43130-4303
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2025
—
Nippert Properties Ltd
—
Deed
related
$800,000 · Park National Bank
Oct 9, 2024
—
123 N Broad LLC
The Studios At 123 LLC
Deed
—
Jun 14, 2024
—
Nippert Properties Ltd
—
Deed
related
$462,450 · Park National Bank
Sep 8, 2020
—
The Studios At 123 LLC
—
Deed
related
$1,338,670 · First Bank Richmond NA
Apr 9, 2020
$1,750,000
Nippert Properties Ltd
Dryden Investments LLC
Warranty Deed
$1,400,000 · Fairfield Natl Div Of The Park Natl
Jul 3, 2018
—
Studios At 123 LLC
Jackson,douglas W
Warranty Deed
—
Mar 29, 2017
$775,000
The Studios At 123 LLC
Cork Enterprises INC
Warranty Deed
$1,240,000 · Douglas W Jackson Etux
Jan 30, 2017
—
Cork Ents INC
—
Trust Deed
related
$76,012 · Park Nat'l Bk
Dec 20, 2013
—
Dryden Investments LLC
—
Trustees Deed
related
$100,000 · Vinton County National Bank
—
—
Dryden Investments LLC
—
Deed Of Trust
related
$950,000 · Vinton County National 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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