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Property profile & analytics
OFF-MARKET
Auto shops
24265 Lorain Rd North Olmsted, OH 44070-2165
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-0611604
Property summary
AI-generated overview
This exceptional 3,089-square-foot automotive shop is available for lease in North Olmsted, Ohio. Currently configured as an auto repair and restoration facility, this property offers a turnkey operation with a modern spray/paint room and a reliable air compressor system. The existing business name, license, and phone number are optionally available for a seamless transition. Located on Lorain Road, this property benefits from high visibility and convenient access, situated near the Great Northern Mall and Great Northern Plaza, surrounded by car dealerships, hotels, office buildings, and apartment complexes. The strong local demographics, with average household incomes between $85,000 and $102,000 within a five-mile radius, provide a robust customer base. This single-tenant retail space presents a unique opportunity for an automotive business to thrive in a vibrant and established commercial area of North Olmsted. The property's address is 24265 Lorain Rd, North Olmsted, OH 44070. This is an ideal location for any automotive-related business seeking high visibility and a strong customer base.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1957
Construction
WOOD
Total area
3,089 SF
Lot
0.36 ac (15,599 SF)
APN
237-04-004
UPID
US66-0611604
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
-
Bert Auto Body Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Neal And Sons Corp · 2 yrs held
Neal And Sons Corp
since 2024
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$9,374
Tax year 2023
Assessed value
$82,740
Assessed 2023
Previous assessed
$82,740
+0.0% YoY
Effective rate
11.33%
On assessed value
Assessed land
$35,070
Assessed improvement
$47,670
Land market value
$100,200
Improvement market value
$136,200
Total market value
$236,400
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1957
Construction
WOOD
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Units
1
Bathrooms
1
Total area
3,089 SF
Lot
0.36 ac (15,599 SF)
APN
237-04-004
UPID
US66-0611604
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
Building & site characteristics
From public records
Year built
1957
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Bathrooms
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Neal And Sons Corp
Entity
Free & Clear · 2 yrs held
Mailing address
24542 MDW LN, WESTLAKE, OH 44145-4944
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 12, 2024
—
Neal And Sons Corp
Neal Assad
Deed
related
—
Apr 23, 2024
$350,000
Neal Assad
Phoenix Collision & Restoration LLC
Warranty Deed
—
Jun 5, 2015
$275,000
Phoenix Collision & Restoratio
Popp,richard J & Margaret
Warranty Deed
$300,000 · Gary A Toth Family LP
Oct 15, 2001
$300,000
Richard J Popp
Bert,ruth M
Grant Deed
$270,000 · Fifth Third Bank
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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