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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1862 Broadway Geneva, OH 44041-8116

    • Manufacturing properties
    • 1,238 SF
    • 2.25 lot acres
    OFF-MARKET
    Last Sale
    Jul 06, 2021
    $181,500
    Value Estimations
    $160,000
    Show details
    Cap Rate Potential
    2.5%
    Manufacturing properties
    Location Intelligence
    Property ID
    US66-1318738
    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.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 1862 Broadway

    Year built
    1900
    Lot size
    2.25 lot acres
    Property size
    1,238 SF
    Property type
    Manufacturing properties
    APN
    22-002-00-035-00
    APU
    220020003500

    Description

    This exceptional 2.25-acre commercial land parcel presents a unique opportunity for retail development in Geneva, Ohio. Located at 1862 S Broadway, this single-tenancy site boasts a highly desirable location directly in front of the Spire Institute & Academy, a major draw attracting over 1.5 million annual visitors. The property's strategic positioning ensures high visibility and accessibility for potential businesses. Classified as Commercial land with Retail and Industrial subtypes, this site offers significant potential for a variety of retail uses. The substantial lot size (2.25 acres) provides ample space for development, allowing for flexibility in design and building size. Situated in Ashtabula County, Ohio, with a 44041 zip code, this property benefits from a strong local economy and convenient access to major transportation routes. The existing high volume of foot traffic generated by Spire Institute & Academy makes this an ideal location for businesses seeking high exposure and a large customer base. This is a rare opportunity to acquire a prime retail development site in a thriving area with exceptional visibility and access. The property is zoned for commercial use and is ready for immediate development. Detailed site plans and zoning information are available upon request. Don't miss this chance to capitalize on this exceptional location and build a successful retail venture.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $175,000
      ML approach
      $175,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $121,000
      Market price range: $18.4k - $130k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $155,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Geneva
    County
    Ashtabula
    State
    Ohio
    Longitude
    -80.9457
    Latitude
    41.7746
    CBSA code
    11780
    CBSA name
    ASHTABULA, 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
    $688
    $14,700
    $0.00
    $14,700
    -
    $42,000
    $0.00
    $42,000

    Comparable in this City

    • Value Estimation
      $180,000
      0.71 Acres

      Broadway

      MANUFACTURING (LIGHT) • 0.71 Acres
      Broadway, Geneva, OH 44041
      View Details
    • Value Estimation
      $185,000
      0.06 Acres

      Broadway

      MANUFACTURING (LIGHT) • 0.06 Acres
      Broadway, Geneva, OH 44041
      View Details
    • Value Estimation
      $200,000
      0.50 Acres

      Ww St

      MANUFACTURING (LIGHT) • 0.50 Acres
      Ww St, Geneva, OH 44041
      View Details
    • Value Estimation
      $215,000
      2.88 Acres

      2167 Broadway

      MANUFACTURING (LIGHT) • 2.88 Acres
      2167 Broadway, Geneva, OH 44041-9192
      View Details
    • Value Estimation
      $170,000
      0.42 Acres

      Rdg W Rd

      MANUFACTURING (LIGHT) • 0.42 Acres
      Rdg W Rd, Geneva, OH 44041
      View Details
    • Value Estimation
      $245,000
      676 SF

      6640 Rdg W Rd

      MANUFACTURING (LIGHT) • 676 SF
      6640 Rdg W Rd, Geneva, OH 44041-7662
      View Details

    Similar Nearby for Sale

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      Mixed-Use Investment Opportunity

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    • $250,000
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      Bar with Renovation Potential

      Fixer-upper bar for sale in prime location.
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    • $1,250,000
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      Turnkey Cafe, Salon, and Spa

      Ready-to-open cafe, salon, and spa with high-end finishes.
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    Similar Nearby for Lease

    • Contact for pricing
      10,535 SF

      Retail Space in Geneva, Ohio

      Retail property available for lease in Geneva, Ohio.
      633 S Broadway, Geneva, OH 44041
      View Details
    • Contact for pricing
      6,000 SF

      Downtown Office Space Available

      Historic office space with grand architecture and high ceilings.
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      View Details
    • $5 SF/Yr
      7,362 SF

      Historic Downtown Office Space Available

      Office space with grand architecture, high ceilings, and elevator access.
      17 W Main St Unit, Geneva, OH 44041
      View Details
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    1862 Broadway
    Geneva, OH 44041-8116
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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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