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Property profile & analytics
OFF-MARKET
Turn key restaurants
215 Herrick Ave Wellington, OH 44090-1372
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US66-0117084
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1967
Total area
2,440 SF
Lot
0.19 ac (8,276 SF)
APN
18-00-021-113-010
UPID
US66-0117084
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Flanigan Family LP · 22 yrs held
Flanigan Family LP
since 2003
7 recorded transactions
Zoning & alternative use
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 Wellington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wellington 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,272
Tax year 2023
Assessed value
$59,857
Assessed 2023
Previous assessed
$59,860
0.0% YoY
Effective rate
5.47%
On assessed value
Assessed land
$8,540
Assessed improvement
$51,317
Land market value
$24,400
Improvement market value
$146,620
Total market value
$171,020
Applied tax rate
67.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1967
Heating
YES
Stories
1
Units
1
Total area
2,440 SF
Lot
0.19 ac (8,276 SF)
APN
18-00-021-113-010
UPID
US66-0117084
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
Building & site characteristics
From public records
Year built
1967
Heating
YES
Stories
1
Units
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Flanigan Family LP
Entity
Mailing address
215 E HERRICK AVE, WELLINGTON, OH 44090-1372
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2018
—
Fflp LP
—
Deed
related
$473,776 · Huntington Nat'l Bk
Nov 20, 2017
—
Fflp LP
—
Deed
related
$805,000 · Huntington Nat'l Bk
Sep 2, 2003
—
Flanigan Family LP
Kng Ltd
Quit Claim Deed
related
$18,000 · Buckeye Community Bank
Sep 2, 2003
$157,000
King Ltd
Brown,tr
Grant Deed
—
—
—
Flanigan Family LP
—
Deed Of Trust
related
$250,000 · Firstmerit Bank NA
—
—
Flanigan Family
—
Deed Of Trust
related
$1,280,000 · First Merit Bank
—
—
Flanigan Family LP
—
Deed Of Trust
related
$425,000 · Firstmerit Bank NA
—
—
Fflp LP
—
Deed Of Trust
related
$805,000 · Huntington Nat'l Bk
—
—
Fflp LP
—
Loan Modification
related
$473,776 · Huntington Nat'l Bk
—
—
Flanigan Family LP
—
Deed Of Trust
related
$150,000 · Firstmerit Bank NA
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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