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Property profile & analytics
OFF-MARKET
Estimated value
$2,685,000
Strip malls
2241 Kresge Dr Amherst, OH 44001-1243
Entity Owned
19-yr Hold
Free & Clear
Property ID
US66-2531910
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2006
Total area
31,461 SF
Lot
3.99 ac (173,804 SF)
APN
05-00-041-110-059
UPID
US66-2531910
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
$3.24M
Blend (final)
Blend
$2.69M
Owner & transaction history
Micah Properties LLC · 19 yrs held
Micah Properties LLC
since 2007
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.4M
+80.9%
Commercial (general)
$3.3M
+34.0%
Medical building
$2.9M
+20.8%
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 Amherst submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Amherst 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,425,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,390,000
Change: +81% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,250,000
Change: +34% · Conversion: Easy
MEDICAL BUILDING
$2,930,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$2,860,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,590,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$2.69M
Range $2.42M – $2.95M · ±10%
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
$85 / 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
$74,421
Tax year 2023
Assessed value
$1,252,594
Assessed 2023
Previous assessed
$1,252,590
+0.0% YoY
Effective rate
5.94%
On assessed value
Assessed land
$251,370
Assessed improvement
$1,001,224
Land market value
$718,200
Improvement market value
$2,860,640
Total market value
$3,578,840
Applied tax rate
7.0000
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
2006
Heating
NONE
Stories
1
Units
1
Total area
31,461 SF
Lot
3.99 ac (173,804 SF)
APN
05-00-041-110-059
UPID
US66-2531910
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
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$2.9M
RETAIL STORES
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.6M
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
2006
Heating
NONE
Stories
1
Units
1
Lot
3.99 ac
Current owner
From public records · entity-resolved
Micah Properties LLC
Entity
Free & Clear · 19 yrs held
Mailing address
1541 MEISTER RD, LORAIN, OH 44053-2407
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2007
—
Micah Properties LLC
Micah Properties LLC
Quit Claim Deed
related
—
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
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