New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,875,000
Medical Office Space
2041 Hubbard Rd, Madison, OH 44057-2565
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US66-2106097
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1960
Total area
67,744 SF
Lot
7.03 ac (306,227 SF)
Zoning code
P1
APN
01-B-096-0-00-006-0
UPID
US66-2106097
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
-
Lantern of Madison Nursing Home Retirement Community
-
Anna Lacy Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.67M
Blend (final)
Blend
$2.88M
Owner & transaction history
Madison Lantern Properties LLC · 5 yrs held
Madison Lantern Properties LLC
since 2021
Last sale
$3.7M
3 recorded transactions
Zoning & alternative use
P1 · Madison, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
$2,665,000
ML approach
$2,495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,765,000
Current use
COMMERCIAL (GENERAL)
$4,545,000
Change: -5% · Conversion: Easy
RETAIL STORES
$4,250,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.88M
Range $2.59M – $3.16M · ±10% · vs last sale $3.67M (Sep 9 2024)
Last sale anchor
$3.67M
Sep 9 2024
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
$42 / 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
$227,424
Tax year 2023
Assessed value
$956,000
Assessed 2023
Previous assessed
$956,000
+0.0% YoY
Effective rate
23.79%
On assessed value
Assessed land
$70,670
Assessed improvement
$885,330
Land market value
$201,900
Improvement market value
$2,529,500
Total market value
$2,731,400
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1960
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
67,744 SF
Lot
7.03 ac (306,227 SF)
Zoning code
P1
APN
01-B-096-0-00-006-0
UPID
US66-2106097
Jurisdiction
LAKE
Zoning & alternative use
P1 · Madison, OH
Zoning P1 · permitted uses
P1 · Madison, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.8M
COMMERCIAL (GENERAL)
Est. value
$4.5M
RETAIL STORES
Est. value
$4.3M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
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
1960
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
7.03 ac
Current owner
From public records · entity-resolved
Madison Lantern Properties LLC
Entity
Mailing address
5277 CHILLICOTHE RD, CHAGRIN FALLS, OH 44022-4334
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 12, 2025
—
Meadow Falls Madison Propco LLC
—
Deed
related
$38,000,000 · Cibc Bank USA
Dec 9, 2024
—
Meadow Fall S Madison Propco LLC
—
Deed
related
$23,750,000 · Locust Point Private Credit Fund III LP
May 12, 2021
$5,790,000
Madison Lantern Properties LLC
Madison Land Development Company In
Limited Warranty Deed
$2,400,000 · Oxford Finance LLC
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 2041 Hubbard Rd?
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.
