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    Property profile & analytics

    199 Gtwy Ave E E Ste Conneaut, OH 44030-2352

    • Outlet malls
    • 34,824 SF
    • 3.52 lot acres
    OFF-MARKET
    Last Sale
    Nov 12, 2021
    $800,000
    Value Estimations
    $715,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5196264
    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

    • Storage of America / Storage Facility
    • CVS / Drug Store
    • Coinhub Bitcoin ATM Teller / Atm
    • Dollar Tree / Home Goods Store / Kitchen Supply Store
    • Gateway Plaza / Business Center

    Property Details for 199 Gtwy Ave E E Ste

    Year built
    1981
    Lot size
    3.52 lot acres
    Property size
    34,824 SF
    Property type
    Outlet malls
    APN
    12-316-00-008-02
    APU
    123160000802

    Description

    This exceptional retail opportunity in Ashtabula County presents two anchor units available for lease within a thriving plaza. The property boasts a total of 114,646 square feet, situated on an expansive 11.469-acre lot. One unit offers 34,824 square feet with a 22-foot clear height to the deck and 16-foot clear height to the joist, while the second unit comprises 62,902 square feet, featuring a 19-foot clear height to the deck and 13-foot clear height to the joist. The property benefits from its strategic location, providing immediate access to I-90 (25,000 vehicles per day) and nearly 1,000 feet of frontage along SR-7. Ample parking is available with over 600 spaces. Current tenants include Dollar Tree and AutoZone. The property, built in 1981, consists of two single-story buildings and has a current Net Operating Income (NOI) of approximately $110,000. The property's APN is 12-316-00-007-00, 12-316-00-008-01, and 12-316-00-008-02. Detailed rent rolls are available upon request. This is a Class C property with a single tenancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $705,000
      ML approach
      $1,035,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $769,000
      Market price range: $746k - $3.02M
      AI Estimate
      $1,024,000
      Market price range: $1.02M - $3.54M

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

    Location Insight

    • Map
    • Local Demand
    City
    Conneaut
    County
    Ashtabula
    State
    Ohio
    Longitude
    -80.5703
    Latitude
    41.9215
    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
    $8,465
    $11,760
    $101,640
    $113,400
    -
    $33,600
    $290,400
    $324,000

    Comparable in this City

    • Value Estimation
      $515,000
      62,902 SF

      199th Gtwy Avea-b

      WHOLESALE OUTLET, DISCOUNT STORE • 62,902 SF
      199th Gtwy Avea-b, Conneaut, OH 44030
      View Details
    • Value Estimation
      $1,580,000
      10,640 SF

      5030 State Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 10,640 SF
      5030 State Rd, Conneaut, OH 44030-8801
      View Details
    • Value Estimation
      $340,000
      9,284 SF

      215 State St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,284 SF
      215 State St, Conneaut, OH 44030-2636
      View Details
    • Value Estimation
      $330,000
      9,100 SF

      254 Gore Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 9,100 SF
      254 Gore Rd, Conneaut, OH 44030-2908
      View Details
    • Value Estimation
      $735,000
      16,920 SF

      199 Gtwy Ave Ste C

      SHOPPING CENTER, STRIP CENTER • 16,920 SF
      199 Gtwy Ave Ste C, Conneaut, OH 44030-2352
      View Details
    • Value Estimation
      $990,000
      88,893 SF

      366 Main Rd

      MINI-MALL • 88,893 SF
      366 Main Rd, Conneaut, OH 44030-2043
      View Details

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    Similar Nearby for Lease

    • $995 /Mo
      436 SF

      Retail Office Space Available

      Retail and office space for lease on Main St.
      216 Main St, Conneaut, OH 44030
      View Details
    • $1,000 /Mo
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      Office space available in Conneaut, OH.
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      View Details
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    Conneaut, OH 44030-2352
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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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