Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    291 Main St Oberlin, OH 44074-1772
    Property profile & analytics

    291 Main St, Oberlin, OH 44074-1772

    View on Map
    • Strip malls
    • 29,298 SF
    • 4.36 lot acres
    Off-Market
    Last Sale Apr 13, 2022
    $1,700,000
    Property ID
    US66-6272868
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,580,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 291 Main St

    Year built
    1993
    Lot size
    4.36 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    09-00-096-103-044
    APU
    900096103044

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 13, 2022 $1,700,000 K&s Investment INC Station Paertners LP Special Warranty Deed $1.1M · Bank Of Michigan
    Apr 18, 2007 $1,775,000 Partners Station Clark Improvement Corp Warranty Deed $1.5M · Auto-owners Life Insurance Co
    Dec 21, 2006 — Clark Improvement Corp Clark Improvement Corp Quit Claim Deed —
    Jul 20, 2004 — Clark Improvement Corp Clark Improvement Corp Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,335,000
      ML approach
      $1,435,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,735,000
      Market price range: $1.07M - $3.78M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,260,000
      Current use
      WAREHOUSE, STORAGE
      $2,610,000
      Change: +16% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,410,000
      Change: +7% Conversion: Difficult
      OFFICE BUILDING
      $2,390,000
      Change: +6% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,150,000
      Change: -5% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oberlin
    County
    Lorain
    State
    Ohio
    Longitude
    -82.2165
    Latitude
    41.2837
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $38,901
    $108,822
    $455,000
    $563,822
    -
    $310,920
    $1,300,000
    $1,610,920

    Comparable in this City

    • Value Estimation
      $3,185,000
      42,240 SF

      14910 State Rte 58th 1st Ste, Unit 1

      SHOPPING CENTER, STRIP CENTER
      14910 State Rte 58th 1st Ste, Oberlin, OH 44074-9223
      View Details
    • Value Estimation
      $1,455,000
      5,048 SF

      155 Main St

      SHOPPING CENTER, STRIP CENTER
      155 Main St, Oberlin, OH 44074-1654
      View Details
    • Value Estimation
      $880,000
      8,680 SF

      12289 Leavitt Rd Ste A

      SHOPPING CENTER, STRIP CENTER
      12289 Leavitt Rd Ste A, Oberlin, OH 44074-8501
      View Details
    • Value Estimation by Request
      0.20 Acres

      Prospect St

      PARKING GARAGE, PARKING STRUCTURE
      Prospect St, Oberlin, OH 44074
      View Details
    • Value Estimation by Request
      2,905 SF

      311 Main St

      RESTAURANT
      311 Main St, Oberlin, OH 44074-1724
      View Details
    • Value Estimation by Request
      0.24 Acres

      Eric Nord Way

      PARKING GARAGE, PARKING STRUCTURE
      Eric Nord Way, Oberlin, OH 44074
      View Details

    Similar Nearby for Sale

    • New
      $199,000
      2,514 SF

      Triplex with Private Porches

      Well-maintained triplex with three separate units, each featuring a private porch for tenant privacy.
      360 S Main St, Oberlin, OH 44074
      View Details
    • Contact for pricing

      Multifamily Property with 11 Units

      Multifamily property featuring 11 units, available for sale.
      540 W College St, Oberlin, OH 44074
      View Details
    • $154,900
      7.21 Acres

      7.21 Acre Build-Ready Homesite

      7.21 acres, soil test complete, water at road.
      Rt 20, Oberlin, OH 44074
      View Details
    • $899,900
      Pending

      37.48 Acres Prime Oberlin Land

      Prime land in Oberlin with future development potential.
      47094 Us Highway 20, Oberlin, OH 44074
      View Details
    • $6,500,000
      9,700 SF

      Oberlin Industrial Quarry: Prime Investment

      56-Acre Quarry, Abundant Resources, High ROI Potential
      14647 State Route 511, Oberlin, OH 44074
      View Details
    • Contact for pricing
      Pending

      Land in Oberlin, Ohio

      Two parcels of land available in Oberlin, Ohio.
      West Rd, Oberlin, OH 44074
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Spaces Available for Rent

      Two retail spaces available for lease.
      12289 Leavitt Rd, Oberlin, OH 44074
      View Details
    • Contact for pricing

      Former Dollar General Retail Space

      9,100 SF former Dollar General retail space for lease.
      544 W College St, Oberlin, OH 44074
      View Details
    • Contact for pricing

      Commercial Land with Excellent Visibility

      Commercial land available for rent with all utilities.
      46048 Us Highway 20, Oberlin, OH 44074
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    291 Main St
    Oberlin, OH 44074-1772
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    291 Main St, Oberlin, OH, 44074
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!