Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2150 Park Dr Lorain, OH 44053-1139

    • Showrooms
    • 5,625 SF
    • 2.03 lot acres
    OFF-MARKET
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2264988
    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

    • масло / Church

    Property Details for 2150 Park Dr

    Year built
    1992
    Lot size
    2.03 lot acres
    Property size
    5,625 SF
    Property type
    Showrooms
    APN
    02-02-019-103-029
    APU
    202019103029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $237,000
      Market price range: $96.3k - $659k
      AI Estimate
      $430,000
      Market price range: $219k - $906k

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

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.2136
    Latitude
    41.447
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN 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
    $0.00
    $21,595
    $59,938
    $81,533
    -
    $61,700
    $171,250
    $232,950

    Comparable in this City

    • Value Estimation
      $315,000
      352 SF

      4360 Oberlin Ave

      SHOW ROOM, WAREHOUSE • 352 SF
      4360 Oberlin Ave, Lorain, OH 44053-2927
      View Details
    • Value Estimation
      $275,000
      2,120 SF

      1220 Cooper Foster Park W Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,120 SF
      1220 Cooper Foster Park W Rd, Lorain, OH 44053-3613
      View Details
    • Value Estimation
      $265,000
      1,066 SF

      5361 Oberlin Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,066 SF
      5361 Oberlin Ave, Lorain, OH 44053-3437
      View Details
    • Value Estimation
      $250,000
      4,000 SF

      2515 21st St

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      2515 21st St, Lorain, OH 44053-1103
      View Details
    • Value Estimation
      $245,000
      3,488 SF

      2808 21st St

      FINANCIAL BUILDING • 3,488 SF
      2808 21st St, Lorain, OH 44053-1110
      View Details
    • Value Estimation
      $270,000
      1,872 SF

      3352 Oberlin Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,872 SF
      3352 Oberlin Ave, Lorain, OH 44053-2754
      View Details

    Similar Nearby for Sale

    • $125,000
      0.04 Acres

      Retail Building in High-Traffic Location

      Prime retail opportunity in Lorain, Ohio with high visibility.
      3346 Oberlin Ave, Lorain, OH 44053
      View Details
    • $799,900
      6.00 Acres

      Retail Building on Six Acres

      Well-maintained retail building with expansion potential on six acres.
      420 N Ridge Rd W, Lorain, OH 44053
      View Details
    • $3,150,000
      25.51 Acres

      Amherst Retail Corridor Land

      25.51 Acres, Prime Development Site
      2200 Cooper Foster Park Rd, Lorain, OH 44053
      View Details
    • $1,360,000
      19.40 Acres

      Prime Lorain County Land

      19.4 Acres, $1.36M, High Visibility
      6401 Ridge Rd, Lorain, OH 44053
      View Details
    • Contact for pricing
      3,920 SF

      Commercial Building Auction Opportunity

      Six-unit commercial building in Lorain, OH, for sale at auction.
      5360 Oberlin Ave, Lorain, OH 44053
      View Details
    • $1,882,000

      Pizza Hut Investment Opportunity

      NNN leased Pizza Hut with annual rent increases.
      2300 Cooper Foster Park Rd, Lorain, OH 44053
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,588 SF

      Retail Space in Grocery Anchored Center

      Retail spaces available in high-traffic, grocery-anchored shopping center.
      3221-3311 Oberlin Ave, Lorain, OH 44053
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space Near I-90

      Retail space available near I-90 with flexible layout.
      1980-2000 Cooper Foster Park Rd, Lorain, OH 44053
      View Details
    • Contact for pricing
      2,400 SF

      Retail End-Cap on Oak Point

      2,400 SF end-cap in Lorain, OH near Route 2.
      8000 Oak Point Rd, Lorain, OH 44053
      View Details
    • Contact for pricing
      6,000 SF

      Lorain Meijer Outparcel Land

      Prime retail land, build-to-suit options.
      3100 Cooper Foster Park Rd, Lorain, OH 44053
      View Details
    • Contact for pricing

      Retail Anchor Space Available

      Anchor and junior anchor spaces available in Lorain, Ohio.
      2418-2630 West 21St St, Lorain, OH 44053
      View Details
    • Contact for pricing
      4,500 SF

      Retail Space Available For Rent

      Retail space available for rent, 4500 square feet.
      4501 North Leavitt Rd, Lorain, OH 44053
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2150 Park Dr
    Lorain, OH 44053-1139
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.