Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,785,000
Industrial properties
172 Reaser Ct Elyria, OH 44035-6285
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-2072704
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1996
Total area
22,620 SF
Lot
1.53 ac (66,647 SF)
APN
06-25-007-000-219
UPID
US66-2072704
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
-
American Hood Systems Inc Production Facility
-
North American Kitchen Solutions, Inc Kitchen & Bath Showroom Furniture & Home Goods
-
HoodMart (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.84M
CAP Approach
CAP
$1.32M
Comparable Approach
Comparable
$1.87M
Blend (final)
Blend
$1.79M
Owner & transaction history
172 Reaser Court LLC · 2 yrs held
172 Reaser Court LLC
since 2023
Last sale
$1.7M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.5M
+85.9%
Medical building
$2.1M
+58.3%
Auto repair, garage
$1.9M
+39.9%
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 Elyria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elyria 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
$1,825,000
ML approach
$1,835,000
CAP Approach
CAP Return
Estimation
6%
$1,425,000
6.5%
$1,315,000
7%
$1,220,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,330,000
Current use
RESTAURANT
$2,475,000
Change: +86% · Conversion: Difficult
MEDICAL BUILDING
$2,105,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,860,000
Change: +40% · Conversion: Easy
OFFICE BUILDING
$1,835,000
Change: +38% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,745,000
Change: +31% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,645,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$1.79M
Range $1.61M – $1.96M · ±10% · vs last sale $1.69M (Jul 27 2023)
Last sale anchor
$1.69M
Jul 27 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
$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
$30,577
Tax year 2023
Assessed value
$420,578
Assessed 2023
Previous assessed
$420,580
0.0% YoY
Effective rate
7.27%
On assessed value
Assessed land
$26,775
Assessed improvement
$393,803
Land market value
$76,500
Improvement market value
$1,125,150
Total market value
$1,201,650
Applied tax rate
33.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1996
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
22,620 SF
Lot
1.53 ac (66,647 SF)
APN
06-25-007-000-219
UPID
US66-2072704
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.3M
RESTAURANT
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.6M
INDUSTRIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1996
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
1.53 ac
Current owner
From public records · entity-resolved
172 Reaser Court LLC
Entity
Mailing address
PO BOX 22704, BEACHWOOD, OH 44122-0704
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
Jul 27, 2023
$1,690,000
172 Reaser Court LLC
Wcg Elyria LLC
Limited Warranty Deed
$1,352,000 · First Commonwealth Bank
Apr 1, 2016
$1,220,000
Wcg Elyria LLC
R N R Development LLC
Warranty Deed
$1,220,000 · First National Bank
Dec 19, 2003
—
Rnr Development LLC
Reaser,daniel B & Cecil S
Quit Claim Deed
related
—
Aug 15, 2003
—
Daniel B Reaser
Reaser Enterprises INC
Quit Claim Deed
related
—
Aug 30, 2000
$1,500,000
Arja Investments Ltd
Reaser Ents INC
Grant Deed
related
$1,160,000 · Firstmerit Bk
—
—
Reaser Enterprises INC
—
Deed Of Trust
related
$315,000 · 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 172 Reaser Ct?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
