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Property profile & analytics
OFF-MARKET
Estimated value
$1,985,000
Warehouses
1800 Colorado Ave, Lorain, OH 44052-3280
Entity Owned
2-yr Hold
Free & Clear
Property ID
US66-1623861
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1986
Total area
21,891 SF
Lot
5.46 ac (237,838 SF)
APN
03-00-053-108-025
UPID
US66-1623861
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
-
First Student Charter Bus Rental Travel Agency Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.44M
Blend (final)
Blend
$1.99M
Owner & transaction history
Lorain City Schools · 2 yrs held
Lorain City Schools
since 2023
Last sale
$1.9M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.0M
+57.1%
Restaurant
$2.0M
+50.6%
Office building
$1.9M
+45.5%
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 Lorain submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lorain 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
$2,055,000
ML approach
$2,080,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,300,000
Current use
MEDICAL BUILDING
$2,040,000
Change: +57% · Conversion: Difficult
RESTAURANT
$1,955,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$1,890,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,800,000
Change: +39% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,690,000
Change: +30% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,435,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$1,355,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$1.99M
Range $1.79M – $2.18M · ±10% · vs last sale $1.90M (Aug 25 2023)
Last sale anchor
$1.90M
Aug 25 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
$91 / 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
$13,023
Tax year 2023
Assessed value
$165,754
Assessed 2023
Previous assessed
$165,750
+0.0% YoY
Effective rate
7.86%
On assessed value
Assessed land
$42,753
Assessed improvement
$123,001
Land market value
$122,150
Improvement market value
$351,430
Total market value
$473,580
Applied tax rate
42.0000
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
1986
Heating
NONE
Stories
1
Units
1
Total area
21,891 SF
Lot
5.46 ac (237,838 SF)
APN
03-00-053-108-025
UPID
US66-1623861
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
$1.3M
MEDICAL BUILDING
Est. value
$2.0M
RESTAURANT
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1986
Heating
NONE
Stories
1
Units
1
Lot
5.46 ac
Current owner
From public records · entity-resolved
Lorain City Schools
Entity
Free & Clear · 2 yrs held
Mailing address
2601 POLE AVE, LORAIN, OH 44052-4303
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2023
$1,900,000
Lorain City Schools
Colorado Avenue Partners LLC
Limited Warranty Deed
—
Jun 8, 2017
—
Colorado Avenue Partners LLC
—
Trustees Deed
related
$173,780 · Buckeye Cmnty Bk
May 8, 2012
—
Colorado Avenue Partners LLC
Terminal Ready Mix INC
Warranty Deed
related
—
Apr 30, 2012
$150,000
Terminal Ready Mix INC
Jefferson Tucking Co
Warranty Deed
—
—
—
Jefferson Trucking Co
—
Deed Of Trust
related
$726,668 · Central States Se & Sw Areas
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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