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Property profile & analytics
OFF-MARKET
Estimated value
$1,280,000
Retail space
2501 Memorial Dr Lancaster, OH 43130-1638
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-5260304
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1990
Total area
6,240 SF
Lot
2.45 ac (106,548 SF)
APN
063-00018.00
UPID
US66-5260304
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
-
Wittens farm market Specialty Food Shop Supermarket
-
L-City Pop-Up Coffee Take-out & Catering Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.28M
CAP Approach
CAP
$1.12M
Comparable Approach
Comparable
$833k
Blend (final)
Blend
$1.28M
Owner & transaction history
Witten Commercial LLC · 2 yrs held
Witten Commercial LLC
since 2024
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+118.9%
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
$1,280,000
ML approach
$1,280,000
CAP Approach
CAP Return
Estimation
6%
$1,210,000
6.5%
$1,115,000
7%
$1,035,000
Alternative Use
Use
Estimation
RESTAURANT
$1,370,000
Change: +119% · Conversion: Easy
Blend value · Realmo final
$1.28M
Range $1.15M – $1.41M · ±10% · vs last sale $1.28M (Jun 5 2024)
Last sale anchor
$1.28M
Jun 5 2024
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
$205 / 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
$28,333
Tax year 2023
Assessed value
$274,010
Assessed 2023
Previous assessed
$274,010
+0.0% YoY
Effective rate
10.34%
On assessed value
Assessed land
$204,660
Assessed improvement
$69,350
Land market value
$584,750
Improvement market value
$198,140
Total market value
$782,890
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1990
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
6,240 SF
Lot
2.45 ac (106,548 SF)
APN
063-00018.00
UPID
US66-5260304
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
RESTAURANT
Est. value
$1.4M
RESTAURANT
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
1990
Heating
YES
Cooling
Yes
Stories
1
Lot
2.45 ac
Current owner
From public records · entity-resolved
Witten Commercial LLC
Entity
Mailing address
PO BOX 13, BEVERLY, OH 45715-0013
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2024
$1,280,000
Witten Commercial LLC
Rcboco Brothers LLC
Warranty Deed
$1,592,000 · Farm Credit Mid America Flca
Jul 8, 2021
$1,200,000
Rcboco Brothers LLC
2501 N Memorial Dr LLC
Warranty Deed
$900,000 · The Community 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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