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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Warehouses
2803 Toledo Ave, Lorain, OH 44055-1445
Entity Owned
1-yr Hold
Free & Clear
Property ID
US66-1416439
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1955
Total area
5,184 SF
Lot
1.72 ac (74,923 SF)
APN
03-00-098-108-001
UPID
US66-1416439
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
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$635k
CAP Approach
CAP
$760k
Comparable Approach
Comparable
$509k
Blend (final)
Blend
$680k
Owner & transaction history
Afs Lorain LLC · 1 yrs held
Afs Lorain LLC
since 2025
Last sale
$840,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$560,000
+82.0%
Medical building
$485,000
+57.1%
Restaurant
$465,000
+50.6%
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
$660,000
ML approach
$635,000
CAP Approach
CAP Return
Estimation
6%
$825,000
6.5%
$760,000
7%
$705,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$560,000
Change: +82% · Conversion: Difficult
MEDICAL BUILDING
$485,000
Change: +57% · Conversion: Difficult
RESTAURANT
$465,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$445,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$425,000
Change: +39% · Conversion: Easy
Blend value · Realmo final
$680k
Range $612k – $748k · ±10% · vs last sale $840k (Jun 30 2022)
Last sale anchor
$840k
Jun 30 2022
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
$131 / 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
$19,524
Tax year 2023
Assessed value
$248,494
Assessed 2023
Previous assessed
$248,490
+0.0% YoY
Effective rate
7.86%
On assessed value
Assessed land
$29,502
Assessed improvement
$218,992
Land market value
$84,290
Improvement market value
$625,690
Total market value
$709,980
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
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1955
Heating
NONE
Buildings
4
Stories
1
Units
1
Total area
5,184 SF
Lot
1.72 ac (74,923 SF)
APN
03-00-098-108-001
UPID
US66-1416439
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$560,000
MEDICAL BUILDING
Est. value
$485,000
RESTAURANT
Est. value
$465,000
OFFICE BUILDING
Est. value
$445,000
AUTO REPAIR, GARAGE
Est. value
$425,000
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
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
1955
Heating
NONE
Stories
1
Buildings
4
Units
1
Lot
1.72 ac
Current owner
From public records · entity-resolved
Afs Lorain LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1851 MADISON AVE, COUNCIL BLUFFS, IA 51503-3605
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2025
—
Afs Elyria LLC
—
Deed
related
—
May 20, 2025
—
Afs Lorain LLC
Afs Lorain LLC
Quitclaim Deed
related
—
Dec 17, 2024
—
Afs Lorain LLC
—
Deed
related
$1,000,000 · Glenwood State Bank
May 5, 2023
—
Afs Lorain LLC
—
Deed
related
$1,000,000 · Glenwood State Bank
Jun 30, 2022
$840,000
Afs Lorain LLC
U S Lumber Group LLC
Limited Warranty Deed
$1,956,000 · Glenwood State Bank
Mar 13, 2017
—
Nilco LLC
—
Deed
related
—
—
—
Nilco LLC
—
Deed Of Trust
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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