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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Strip malls
24321 Lorain Rd 24349 North Olmsted, OH 44070-2166
Entity Owned
9-yr Hold
Free & Clear
Property ID
US66-1517049
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
WOOD
Total area
9,100 SF
Lot
1.35 ac (58,632 SF)
APN
237-01-006
UPID
US66-1517049
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
-
My Vision Centers Eye Care Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$880k
Owner & transaction history
Col Fam Properties LLC · 9 yrs held
Col Fam Properties LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.0M
+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
$965,000
Current use
MEDICAL BUILDING
$1,000,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$890,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$850,000
Change: -12% · Conversion: Easy
AUTO REPAIR, GARAGE
$830,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$880k
Range $792k – $968k · ±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
$97 / 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
$42,019
Tax year 2023
Assessed value
$370,900
Assessed 2023
Previous assessed
$370,900
+0.0% YoY
Effective rate
11.33%
On assessed value
Assessed land
$123,130
Assessed improvement
$247,770
Land market value
$351,800
Improvement market value
$707,900
Total market value
$1,059,700
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
1999
Construction
WOOD
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Bathrooms
1
Total area
9,100 SF
Lot
1.35 ac (58,632 SF)
APN
237-01-006
UPID
US66-1517049
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
$965,000
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$890,000
COMMERCIAL (GENERAL)
Est. value
$850,000
AUTO REPAIR, GARAGE
Est. value
$830,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1999
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
1
Lot
1.35 ac
Current owner
From public records · entity-resolved
Col Fam Properties LLC
Entity
Free & Clear · 9 yrs held
Mailing address
8703 BROOKSIDE RD, INDEPENDENCE, OH 44131-6436
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2016
—
Col Fam Properties LLC
Colantuono,louis P
Quit Claim Deed
related
—
Jul 17, 2013
—
Louis P Colantuono
Col Fam Properties LLC
Quit Claim Deed
related
—
Jan 15, 2009
—
Col Fam Properties LLC
Colantuono,luigi
Quit Claim Deed
related
—
Apr 9, 2004
$1,650,000
Luigi Colantuono
Marinescu,rosemary Tr
Grant Deed
$550,000 · Park View Fsb
Jan 24, 2001
$1,600,000
Rosemary Marinescu Trustee
Crete Properties
Grant Deed
$1,400,000 · Business Loan Center INC
Apr 27, 1998
—
Crete Properties
Valore,helen
Quit Claim Deed
related
—
—
—
Crete Properties
—
Deed Of Trust
related
$775,000 · National City Bank
—
—
Col Fam Properties LLC
—
Deed Of Trust
related
$330,000 · Us Bank NA
—
—
Luigi Colantuono
—
Deed Of Trust
related
$488,424 · National City 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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