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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Strip malls
232 6th Ave Lancaster, OH 43130-2510
Entity Owned
3-yr Hold
Free & Clear
Property ID
US66-2028649
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Total area
8,628 SF
Lot
0.43 ac (18,875 SF)
APN
053-20275.00
UPID
US66-2028649
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
-
Wellness129, llc Physician Alternative Medicine Practice
-
Healthy Life Solutions LLC (Bike/Boat/Book/etc) Store Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$515k
Owner & transaction history
Forest Property LLC · 3 yrs held
Forest Property LLC
since 2022
Last sale
$555,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$840,000
+273.2%
Auto repair, garage
$785,000
+248.3%
Office building
$740,000
+230.0%
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 Lancaster submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lancaster 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
$435,000
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$840,000
Change: +273% · Conversion: Easy
AUTO REPAIR, GARAGE
$785,000
Change: +248% · Conversion: Difficult
OFFICE BUILDING
$740,000
Change: +230% · Conversion: Moderate
MEDICAL BUILDING
$735,000
Change: +227% · Conversion: Difficult
RESTAURANT
$685,000
Change: +205% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$615,000
Change: +174% · Conversion: Difficult
RETAIL STORES
$570,000
Change: +154% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±10% · vs last sale $555k (Nov 1 2022)
Last sale anchor
$555k
Nov 1 2022
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
$60 / 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
$7,925
Tax year 2023
Assessed value
$87,470
Assessed 2023
Previous assessed
$87,470
+0.0% YoY
Effective rate
9.06%
On assessed value
Assessed land
$6,600
Assessed improvement
$80,870
Land market value
$18,870
Improvement market value
$231,070
Total market value
$249,940
Applied tax rate
53.0000
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
1986
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
8,628 SF
Lot
0.43 ac (18,875 SF)
APN
053-20275.00
UPID
US66-2028649
Jurisdiction
FAIRFIELD
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
COMMERCIAL (GENERAL)
Est. value
$840,000
AUTO REPAIR, GARAGE
Est. value
$785,000
OFFICE BUILDING
Est. value
$740,000
MEDICAL BUILDING
Est. value
$735,000
RESTAURANT
Est. value
$685,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$615,000
RETAIL STORES
Est. value
$570,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1986
Heating
YES
Cooling
Yes
Stories
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Forest Property LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2856 OAK FRST DR, GROVE CITY, OH 43123-4738
Ownership since
2022
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
Nov 1, 2022
$555,000
Forest Property LLC
Aab Properties LLC
Warranty Deed
—
Oct 4, 2019
—
Aab Properties LLC
Little Realty Co LLC
Warranty Deed
—
Nov 30, 2011
$202,000
Little Realty Co LLC
Bodamer,carlton B & Angie K
Warranty Deed
—
Jul 27, 2011
$85,000
Carlton B Bodamer
Graf Wilbur B Living Trust
Grant Deed
$136,000 · Fairfield National
Feb 18, 2009
—
Wilbur B Graf II
Graf,martha A
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.
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