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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Investment properties
253 Erie Ave Lorain, OH 44052-2050
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US66-4377301
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Total area
5,217 SF
Lot
0.1 ac (4,356 SF)
APN
02-01-001-106-020
UPID
US66-4377301
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
-
Village Lighting & Supply (Bike/Boat/Book/etc) Store Hardware & Home Improvement
-
Village Lighting (Bike/Boat/Book/etc) Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$830k
Comparable Approach
Comparable
$507k
Blend (final)
Blend
$620k
Owner & transaction history
Black River Community LLC · 12 yrs held
Black River Community LLC
since 2014
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$485,000
+68.5%
Restaurant
$465,000
+61.6%
Office building
$450,000
+56.1%
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 Lorain submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lorain 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%
$900,000
6.5%
$830,000
7%
$770,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$485,000
Change: +69% · Conversion: Easy
RESTAURANT
$465,000
Change: +62% · Conversion: Difficult
OFFICE BUILDING
$450,000
Change: +56% · Conversion: Easy
AUTO REPAIR, GARAGE
$430,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$400,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$119 / 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
$4,196
Tax year 2023
Assessed value
$53,404
Assessed 2023
Previous assessed
$53,410
0.0% YoY
Effective rate
7.86%
On assessed value
Assessed land
$4,575
Assessed improvement
$48,829
Land market value
$13,070
Improvement market value
$139,510
Total market value
$152,580
Applied tax rate
42.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Heating
NONE
Buildings
2
Stories
2
Units
1
Total area
5,217 SF
Lot
0.1 ac (4,356 SF)
APN
02-01-001-106-020
UPID
US66-4377301
Jurisdiction
LORAIN
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
MEDICAL BUILDING
Est. value
$485,000
RESTAURANT
Est. value
$465,000
OFFICE BUILDING
Est. value
$450,000
AUTO REPAIR, GARAGE
Est. value
$430,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$400,000
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
Heating
NONE
Stories
2
Buildings
2
Units
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Black River Community LLC
Entity
Mailing address
112 XIMENO AVE, LONG BEACH, CA 90803-3064
Ownership since
2014
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
Sep 28, 2018
—
Black River Community LLC
—
Deed
related
$570,000 · Cardinal Cu
May 7, 2014
$510,000
Black River Community LLC
Gross Ents Of Lorain Ltd
Warranty Deed
$53,500 · Gross Ents Of Lorain Ltd
—
—
Black River Community LLC
—
Deed Of Trust
related
$570,000 · Cardinal Cu
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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