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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Strip malls
2062 Cherry Vly Rd Newark, OH 43055-1104
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US66-1924624
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1974
Total area
10,000 SF
Lot
1.22 ac (53,143 SF)
APN
054-233274-02.001
UPID
US66-1924624
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
-
BAR LIQUID Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
$640k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$630k
Owner & transaction history
204 Patterson Road LLC · 5 yrs held
204 Patterson Road LLC
since 2020
Last sale
$725,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$905,000
+205.5%
Commercial (general)
$880,000
+196.7%
Restaurant
$830,000
+181.3%
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 Newark submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newark 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
$555,000
ML approach
$505,000
CAP Approach
CAP Return
Estimation
6%
$695,000
6.5%
$640,000
7%
$595,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$905,000
Change: +206% · Conversion: Difficult
COMMERCIAL (GENERAL)
$880,000
Change: +197% · Conversion: Easy
RESTAURANT
$830,000
Change: +181% · Conversion: Difficult
OFFICE BUILDING
$820,000
Change: +178% · Conversion: Moderate
AUTO REPAIR, GARAGE
$815,000
Change: +176% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$805,000
Change: +171% · Conversion: Difficult
MEDICAL BUILDING
$785,000
Change: +165% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±10% · vs last sale $725k (Dec 2 2020)
Last sale anchor
$725k
Dec 2 2020
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
$63 / 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
$11,798
Tax year 2023
Assessed value
$221,450
Assessed 2023
Previous assessed
$204,930
+8.1% YoY
Effective rate
5.33%
On assessed value
Assessed land
$53,380
Assessed improvement
$168,070
Land market value
$152,500
Improvement market value
$480,200
Total market value
$632,700
Applied tax rate
54.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1974
Heating
NONE
Stories
1
Total area
10,000 SF
Lot
1.22 ac (53,143 SF)
APN
054-233274-02.001
UPID
US66-1924624
Jurisdiction
LICKING
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
INDUSTRIAL (GENERAL)
Est. value
$905,000
COMMERCIAL (GENERAL)
Est. value
$880,000
RESTAURANT
Est. value
$830,000
OFFICE BUILDING
Est. value
$820,000
AUTO REPAIR, GARAGE
Est. value
$815,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$805,000
MEDICAL BUILDING
Est. value
$785,000
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1974
Heating
NONE
Stories
1
Lot
1.22 ac
Current owner
From public records · entity-resolved
204 Patterson Road LLC
Entity
Mailing address
125 FALLEN ASH DR, GRANVILLE, OH 43023-8041
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2020
$725,000
204 Patterson Road LLC
Srg Investments Ltd
Warranty Deed
$125,000 · Park National Bank
Jun 21, 2005
$650,000
Srg Investments Ltd
Towne Krier Ltd
Warranty Deed
$520,000 · First Fsla Of Newark
Feb 17, 2005
—
Towne Krier Ltd
Owner Name Unavailable
Quit Claim Deed
related
—
Nov 12, 2002
$480,000
Diedre J Krier
Hoover,larry P
Grant Deed
related
$384,000 · National Cty Bk/brecksville
—
—
Srg Investments Ltd
—
Deed Of Trust
related
$515,000 · Keybank USA
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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