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Property profile & analytics
OFF-MARKET
Estimated value
$3,505,000
Strip malls
29047 Lorain Rd 29095 North Olmsted, OH 44070-4017
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-6106875
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1970
Construction
TYPE NOT SPECIFIED
Total area
29,155 SF
Lot
3.51 ac (152,985 SF)
APN
234-20-004
UPID
US66-6106875
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
-
Powerhouse Gym Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.50M
CAP Approach
CAP
$4.91M
Comparable Approach
Comparable
$2.94M
Blend (final)
Blend
$3.51M
Owner & transaction history
Lorain Crocker Plaza LLC · 4 yrs held
Lorain Crocker Plaza LLC
since 2021
Last sale
$3.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.2M
+68.4%
Office building
$4.8M
+53.9%
Medical building
$3.2M
+3.5%
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 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
$3,490,000
ML approach
$3,500,000
CAP Approach
CAP Return
Estimation
6%
$5,315,000
6.5%
$4,905,000
7%
$4,555,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,090,000
Current use
RESTAURANT
$5,205,000
Change: +68% · Conversion: Difficult
OFFICE BUILDING
$4,755,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$3,195,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$2,845,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,725,000
Change: -12% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,650,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$3.51M
Range $3.15M – $3.86M · ±10% · vs last sale $3.80M (Jul 30 2021)
Last sale anchor
$3.80M
Jul 30 2021
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
$120 / 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
$97,983
Tax year 2023
Assessed value
$864,890
Assessed 2023
Previous assessed
$747,080
+15.8% YoY
Effective rate
11.33%
On assessed value
Assessed land
$428,370
Assessed improvement
$436,520
Land market value
$1,223,900
Improvement market value
$1,247,200
Total market value
$2,471,100
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1970
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Total area
29,155 SF
Lot
3.51 ac (152,985 SF)
APN
234-20-004
UPID
US66-6106875
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
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.1M
RESTAURANT
Est. value
$5.2M
OFFICE BUILDING
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$3.2M
RETAIL STORES
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1970
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
3.51 ac
Current owner
From public records · entity-resolved
Lorain Crocker Plaza LLC
Entity
Mailing address
35110 EUCLID AVE, WILLOUGHBY, OH 44094-4523
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2021
$3,800,000
Lorain Crocker Plaza LLC
Src Mentor LLC
Limited Warranty Deed
$2,887,500 · First National Bank Of Pennsylvania
Jul 29, 2021
—
Src Mentor LLC
Lorain Stearns Plaza LLC
Quit Claim Deed
related
—
Nov 20, 2017
—
Lorain Stearns Plaza LLC
—
Deed
related
$1,650,000 · Eriebank
Dec 30, 2010
—
Lorain Stearns Plaza LLC
Viviani Family LP
Quit Claim Deed
related
$1,650,000 · Lake National Bank
Feb 26, 2002
$1,276,500
Src Mentor LLC
Viviani Family LP
Grant Deed
—
Feb 26, 2002
$2,622,100
Viviani Family LP
Steams-lorain Center Co
Grant Deed
$2,400,000 · Home Savings & Loan Youngstown
—
—
Lorain Stearns Plaza LLC
—
Deed Of Trust
related
$250,000 · Eriebank
—
—
Lorain Stearns Plaza LLC
—
Loan Modification
related
$1,650,000 · Eriebank
—
—
Viviani Family
—
Deed Of Trust
related
$2,400,000 · Home Savings & Loan Youngstown
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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