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Property profile & analytics
FOR SALE
Outlet malls
27048 Lorain Rd North Olmsted, OH 44070
Trust Owned
5-yr Hold
Free & Clear
Property ID
US66-1544432
For Sale
1 / 8
Contact for pricing
27048 Lorain Rd, North Olmsted, OH 44070
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Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1989
Total area
45,297 SF
Lot
4.44 ac (193,450 SF)
APN
232-25-031
UPID
US66-1544432
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
-
Space Shop Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.16M
Blend (final)
Blend
$2.31M
Owner & transaction history
Cianciolo Family Trust · 5 yrs held
Cianciolo Family Trust
since 2020
Last sale
$2.4M
7 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
Method
Estimation
Statistic approach
$2,195,000
ML approach
$2,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.31M
Range $2.07M – $2.54M · ±10% · vs last sale $2.40M (Aug 20 2020)
Last sale anchor
$2.40M
Aug 20 2020
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
$51 / 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
$176,278
Tax year 2023
Assessed value
$1,556,000
Assessed 2023
Previous assessed
$1,345,330
+15.7% YoY
Effective rate
11.33%
On assessed value
Assessed land
$595,840
Assessed improvement
$960,160
Land market value
$1,702,400
Improvement market value
$2,743,300
Total market value
$4,445,700
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
For Sale
Year built
1989
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Rooms
6
Bathrooms
1
Total area
45,297 SF
Lot
4.44 ac (193,450 SF)
APN
232-25-031
UPID
US66-1544432
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Rooms
6
Bathrooms
1
Lot
4.44 ac
Current owner
From public records · entity-resolved
Cianciolo Family Trust
Trust
Free & Clear · 5 yrs held
Mailing address
5607 GLENRIDGE DR STE #200, ATLANTA, GA 30342-7204
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2020
$2,400,000
Cianciolo Family Trust
Mercurio Realty LLC
Grant Deed
—
Aug 20, 2020
—
Sig Lorain Road LLC
—
Deed Of Trust
related
$6,120,000 · Piedmont Bk
Jan 25, 2019
—
Cianciolo Family Trust
Cianciolo,philip A
Affidavit Of Death
related
—
Jan 26, 2018
—
Mercurio Reality LLC
Mercurio J Cianciola L Trust
Quit Claim Deed
related
—
Jan 23, 2018
—
Mercurio Realty LLC
Cianciola Mercurio J L/tr
Quit Claim Deed
related
—
Nov 8, 2016
—
Toys R Us Property Co II LLC
—
Deed
related
$1,024,000,000 · Bank Of America
May 20, 2016
—
Cianciolo,mercurio J Living Trust
Cianciolo Realty Co
Quit Claim Deed
related
—
—
—
Toys R Us Property Co II LLC
—
Deed Of Trust
related
$1,024,000,000 · Bank Of America
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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