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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Office buildings
1901 Rdg E Rd Lorain, OH 44055-3344
Trust Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-1622415
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Total area
7,359 SF
Lot
4.99 ac (217,364 SF)
APN
03-00-110-105-074
UPID
US66-1622415
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
-
EVER LIFTED MINISTRY OF EDUCATION Community Center
-
Shelle M. Mathis Counseling Services LLC Counselor Psychotherapist
-
Full Gospel Faith Fellowship Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$774k
Blend (final)
Blend
$600k
Owner & transaction history
Rowland,william M Trust · 6 yrs held
Rowland,william M Trust
since 2020
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$795,000
+25.1%
Medical building
$685,000
+8.0%
Restaurant
$655,000
+3.5%
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
by Request
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$635,000
Current use
APARTMENT HOUSE (5+ UNITS)
$795,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$685,000
Change: +8% · Conversion: Easy
RESTAURANT
$655,000
Change: +4% · Conversion: Moderate
AUTO REPAIR, GARAGE
$605,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$570,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$82 / 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
$39,142
Tax year 2023
Assessed value
$715,250
Assessed 2023
Previous assessed
$715,250
+0.0% YoY
Effective rate
5.47%
On assessed value
Assessed land
$74,382
Assessed improvement
$640,868
Land market value
$212,520
Improvement market value
$1,831,050
Total market value
$2,043,570
Applied tax rate
45.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1971
Heating
NONE
Buildings
7
Stories
1
Units
1
Total area
7,359 SF
Lot
4.99 ac (217,364 SF)
APN
03-00-110-105-074
UPID
US66-1622415
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
OFFICE BUILDING Current
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$795,000
MEDICAL BUILDING
Est. value
$685,000
RESTAURANT
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$605,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$570,000
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1971
Heating
NONE
Stories
1
Buildings
7
Units
1
Lot
4.99 ac
Current owner
From public records · entity-resolved
Rowland,william M Trust
Trust
Mailing address
615 GRISWOLD RD, ELYRIA, OH 44035-2394
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2020
$350,000
Rowland,william M Trust
Rowland Billy S 2013 Trust
Dual Purpose Document
related
$350,000 · William M Rowland
Apr 30, 2018
—
Rowland,billy S 2013 Trust
—
Deed
related
$76,518 · Gloria G Mcintyre
Mar 3, 2004
—
Rowland Billy S 2002 Trust
Rowland B S 2002 Trust
Quit Claim Deed
related
—
—
—
Rowland,billy S 2013 Trust
—
Deed Of Trust
related
$76,518 · Gloria G Mcintyre
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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