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    1617 Claremont Ave Ashland, OH 44805-3536

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    1617 Claremont Ave Ashland, OH 44805-3536

    View on Map
    • Grocery and convenience stores
    • 92,843 SF
    • 8.93 lot acres
    Off-Market
    Last Sale Dec 27, 2023
    Property ID
    US66-3765110
    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.
    Value Estimations
    $3,345,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 1617 Claremont Ave

    Year built
    1964
    Lot size
    8.93 lot acres
    Property size
    92,843 SF
    Property type
    Grocery and convenience stores
    APN
    P44-078-0-0010-00
    APU
    P440780001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,609,000
      Market price range: $2.81M - $9.27M

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

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Ashland
    State
    Ohio
    Longitude
    -82.3364
    Latitude
    40.853
    CBSA code
    11740
    CBSA name
    ASHLAND, OH MICROPOLITAN 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
    $57,621
    $336,980
    $684,000
    $1,020,980
    -
    $962,790
    $1,954,280
    $2,917,070

    Comparable in this City

    • Value Estimation by Request
      6,608 SF

      1225 Cleveland Ave

      GROCERY, SUPERMARKET • 6,608 SF
      1225 Cleveland Ave, Ashland, OH 44805-2717
      View Details
    • Value Estimation by Request
      401 SF

      622 Cottage St

      CONVENIENCE STORE • 401 SF
      622 Cottage St, Ashland, OH 44805
      View Details
    • Value Estimation by Request
      1,056 SF

      1300 Troy Rd

      CONVENIENCE STORE • 1,056 SF
      1300 Troy Rd, Ashland, OH 44805-1309
      View Details
    • Value Estimation by Request
      4,417 SF

      1207 Claremont Ave

      CONVENIENCE STORE • 4,417 SF
      1207 Claremont Ave, Ashland, OH 44805-3565
      View Details
    • Value Estimation by Request
      2,863 SF

      191 Main St

      CONVENIENCE STORE • 2,863 SF
      191 Main St, Ashland, OH 44805
      View Details
    • Value Estimation by Request
      3,828 SF

      2115 Baney Rd

      CONVENIENCE STORE • 3,828 SF
      2115 Baney Rd, Ashland, OH 44805-8915
      View Details

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    • $799,000
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      Thriving Business in Prime Location

      Established business near Ashland University and downtown shopping/dining district.
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      5,000 SF

      Ashland Warehouse with Mezzanine Storage

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    Similar Nearby for Lease

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      View Details
    • Contact for pricing
      43,703 SF

      Retail or Flex Building

      Multi-tenant retail or flex building anchored by Tractor Supply Company.
      2300 Claremont Ave, Ashland, OH 44805
      View Details
    • Contact for pricing
      25,300 SF

      Ashland Warehouse with Office Space

      25,300 SF warehouse with office and restrooms for lease.
      2355 Rock Rd, Ashland, OH 44805
      View Details

    Property Visit Statistics

    • Visits by month
      4.2k
    • Visitors by month
      3.4k
    • Avg Time on site
      34 min
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    Ashland, OH 44805-3536
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    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
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