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Property profile & analytics
OFF-MARKET
Estimated value
$1,220,000
Apartment buildings
2600 Reeves Ave 2 Lorain, OH 44052-4266
Entity Owned
~
Est. High Equity
Property ID
US66-1964748
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Total area
10,688 SF
Lot
1.75 ac (76,230 SF)
APN
02-02-017-103-019
UPID
US66-1964748
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
-
Wingate Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.41M
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.22M
Owner & transaction history
Reeves Re Holder LLC
Reeves Re Holder LLC
since 2026
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$995,000
+41.9%
Restaurant
$955,000
+36.1%
Office building
$920,000
+31.5%
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 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%
$1,525,000
6.5%
$1,405,000
7%
$1,305,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$995,000
Change: +42% · Conversion: Moderate
RESTAURANT
$955,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$920,000
Change: +31% · Conversion: Moderate
AUTO REPAIR, GARAGE
$880,000
Change: +25% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$825,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$1.22M
Range $1.10M – $1.34M · ±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
$114 / 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
$24,708
Tax year 2023
Assessed value
$314,472
Assessed 2023
Previous assessed
$314,470
+0.0% YoY
Effective rate
7.86%
On assessed value
Assessed land
$50,694
Assessed improvement
$263,778
Land market value
$144,840
Improvement market value
$753,650
Total market value
$898,490
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1971
Heating
NONE
Stories
2
Units
1
Total area
10,688 SF
Lot
1.75 ac (76,230 SF)
APN
02-02-017-103-019
UPID
US66-1964748
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
$995,000
RESTAURANT
Est. value
$955,000
OFFICE BUILDING
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$880,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$825,000
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
Year built
1971
Heating
NONE
Stories
2
Units
1
Lot
1.75 ac
Current owner
From public records · entity-resolved
Reeves Re Holder LLC
Entity
Mailing address
300 BROADWAY, LORAIN, OH 44052-1648
Ownership since
2026
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
Mar 2, 2026
—
Reeves Re Holder LLC
Veard Wingate LLC
Deed
$1,645,000 · Community Bank
Nov 7, 2025
—
Veard Wingate LLC
Joy I Veard
Deed
related
—
Mar 14, 2013
—
Veard-wingate LLC
Veard,jon R
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.
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