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Property profile & analytics
FOR LEASE
Strip malls
23420 Lorain Rd North Olmsted, OH 44070
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-1293431
For Lease
1 / 5
Contact for pricing
23420 Lorain Rd, North Olmsted, OH 44070
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
TYPE NOT SPECIFIED
Total area
12,054 SF
Lot
1.14 ac (49,619 SF)
APN
231-26-003
UPID
US66-1293431
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
-
Miracle-Ear Hearing Aid Center Hearing Aid Store Otolaryngologist
-
Dental 32 Dental Office
-
Starbucks Cafe & Coffee Shop
-
Alterations Express - North Olmsted (Bike/Boat/Book/etc) Store
-
Robeks Fresh Juices & Smoothies Specialty Food Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.25M
Owner & transaction history
Dona Paula Properties LLC · 4 yrs held
Dona Paula Properties LLC
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.0M
+53.9%
Medical building
$1.3M
+3.5%
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 North Olmsted submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Olmsted 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
$1,275,000
Current use
OFFICE BUILDING
$1,965,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$1,320,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$1,175,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,125,000
Change: -12% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,095,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±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
$104 / 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
$65,088
Tax year 2023
Assessed value
$574,530
Assessed 2023
Previous assessed
$574,530
+0.0% YoY
Effective rate
11.33%
On assessed value
Assessed land
$208,390
Assessed improvement
$366,140
Land market value
$595,400
Improvement market value
$1,046,100
Total market value
$1,641,500
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
For Lease
Year built
2005
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Rooms
5
Bathrooms
1
Total area
12,054 SF
Lot
1.14 ac (49,619 SF)
APN
231-26-003
UPID
US66-1293431
Jurisdiction
CUYAHOGA
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
$1.3M
OFFICE BUILDING
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
2005
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
5
Bathrooms
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Dona Paula Properties LLC
Entity
Mailing address
4354 VLY FRG DR, FAIRVIEW PARK, OH 44126-2825
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2021
—
Dona Paula Properties LLC
Zapata Real Estate LLC
Warranty Deed
—
Oct 1, 2019
—
Zapata Real Estate LLC
—
Deed
related
$990,000 · Northwest Bk
Aug 4, 2015
—
Zapata Real Estate LLC
Monty Realty Ltd
Grant Deed
related
—
Jan 12, 2005
—
Monty Realty LLC
Montgomery,james J & Florence A
Quit Claim Deed
related
—
Nov 22, 2004
$137,500
James J Montgomery
Catalano,deborah A
Warranty Deed
—
—
—
Deborah A Catalano
—
Deed Of Trust
related
$99,900 · Household Bank
—
—
Deborah A Catalano
—
Deed Of Trust
related
$81,000 · Nationwide Mortgage Services
—
—
Zapata Real Estate LLC
—
Deed Of Trust
related
$990,000 · Northwest Bk
—
—
Zapata Real Estate LLC
—
Deed Of Trust
related
$1,560,000 · Northwest Bk
—
—
Deborah Catalano
—
Deed Of Trust
related
$11,883 · National City Bank
—
—
Deborah Catalano
—
Deed Of Trust
related
$11,883 · National City Bank
—
—
Deborah A Catalano
—
Deed Of Trust
related
$15,719 · Citifinancial INC
—
—
Deborah A Catalano
—
Deed Of Trust
related
$106,539 · Citifinancial Mortgage Co
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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