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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Specialty properties
15 Messimer Dr Newark, OH 43055-1841
Entity Owned
Free & Clear
Property ID
US66-5929123
Property profile
Verified
Property type
Specialty properties
Use group
CHARITABLE ORGANIZATION
Year built
1978
Total area
10,047 SF
Lot
4.01 ac (174,676 SF)
APN
054-216684-01.000
UPID
US66-5929123
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
-
Yontz Sally Employment Agency
-
Licking Memorial Women's Health - Newark Medical Clinic
-
Pragna Bharat Patel Physician
-
John Delong Physician
-
Dr. Pragna Patel Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$670k
Owner & transaction history
Red Heart Homes LLC
Red Heart Homes LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$910,000
+39.7%
Commercial (general)
$880,000
+35.7%
Restaurant
$835,000
+28.6%
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 Newark submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newark 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
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$650,000
Current use
INDUSTRIAL (GENERAL)
$910,000
Change: +40% · Conversion: Difficult
COMMERCIAL (GENERAL)
$880,000
Change: +36% · Conversion: Difficult
RESTAURANT
$835,000
Change: +29% · Conversion: Difficult
OFFICE BUILDING
$825,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$820,000
Change: +26% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$805,000
Change: +24% · Conversion: Difficult
MEDICAL BUILDING
$785,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$67 / 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
$90
Tax year 2023
Assessed value
$904,120
Assessed 2023
Previous assessed
$904,120
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$286,300
Assessed improvement
$617,820
Land market value
$818,000
Improvement market value
$1,765,200
Total market value
$2,583,200
Applied tax rate
54.0000
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
Specialty properties
Use group
CHARITABLE ORGANIZATION
Status
Off-Market
Year built
1978
Heating
NONE
Stories
1
Total area
10,047 SF
Lot
4.01 ac (174,676 SF)
APN
054-216684-01.000
UPID
US66-5929123
Jurisdiction
LICKING
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
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$650,000
INDUSTRIAL (GENERAL)
Est. value
$910,000
COMMERCIAL (GENERAL)
Est. value
$880,000
RESTAURANT
Est. value
$835,000
OFFICE BUILDING
Est. value
$825,000
AUTO REPAIR, GARAGE
Est. value
$820,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$805,000
MEDICAL BUILDING
Est. value
$785,000
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL 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
1978
Heating
NONE
Stories
1
Lot
4.01 ac
Current owner
From public records · entity-resolved
Red Heart Homes LLC
Entity
Free & Clear · 0 yrs held
Mailing address
116 N 22ND ST, NEWARK, OH 43055-2755
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2026
—
Red Heart Homes LLC
—
Deed
related
$372,738 · Licking Coutty Board Of Developmental Di
Nov 18, 2025
—
Red Heart Homes LLC
Licking Cnty Brd Of Developmental D
Quitclaim Deed
related
—
Sep 16, 2024
—
Licking Memorial Health Systems
Licking Memorial Hospital
Intrafamily Transfer
related
—
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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