Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Strip malls
23597 Lorain Rd 23647 North Olmsted, OH 44070-2219
Entity Owned
9-yr Hold
Free & Clear
Property ID
US66-0467316
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1976
Construction
TYPE NOT SPECIFIED
Total area
6,000 SF
Lot
0.95 ac (41,478 SF)
APN
237-07-019
UPID
US66-0467316
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
$655k
Owner & transaction history
Vet Realty 6 LLC · 9 yrs held
Vet Realty 6 LLC
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+68.4%
Office building
$980,000
+53.9%
Medical building
$660,000
+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
$635,000
Current use
RESTAURANT
$1,070,000
Change: +68% · Conversion: Difficult
OFFICE BUILDING
$980,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$660,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$585,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$560,000
Change: -12% · Conversion: Easy
AUTO REPAIR, GARAGE
$545,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±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
$109 / 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
$32,713
Tax year 2023
Assessed value
$288,760
Assessed 2023
Previous assessed
$330,760
-12.7% YoY
Effective rate
11.33%
On assessed value
Assessed land
$87,120
Assessed improvement
$201,640
Land market value
$248,900
Improvement market value
$576,100
Total market value
$825,000
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
1976
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Bathrooms
3
Total area
6,000 SF
Lot
0.95 ac (41,478 SF)
APN
237-07-019
UPID
US66-0467316
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
$635,000
RESTAURANT
Est. value
$1.1M
OFFICE BUILDING
Est. value
$980,000
MEDICAL BUILDING
Est. value
$660,000
RETAIL STORES
Est. value
$585,000
COMMERCIAL (GENERAL)
Est. value
$560,000
AUTO REPAIR, GARAGE
Est. value
$545,000
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
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
1976
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
3
Lot
0.95 ac
Current owner
From public records · entity-resolved
Vet Realty 6 LLC
Entity
Free & Clear · 9 yrs held
Mailing address
29810 ADAMS LN, WESTLAKE, OH 44145-6423
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2023
—
Anthony Cifani
—
Deed
related
$231,000 · American Pacific Mortgage Corp
Apr 14, 2017
$845,000
Vet Realty 6 LLC
Brendan Lane LLC
Grant Deed
—
Jan 31, 2001
—
Brendan Lane LLC
Rini,charles 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 23597 Lorain Rd, Unit 23647?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
