Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2910 Lermitage Pl Stow, OH 44224-5219

    • Hospitals
    • 56,105 SF
    • 6.80 lot acres
    OFF-MARKET
    Last Sale
    Dec 15, 2023
    $7,280,008
    Value Estimations
    $7,430,000
    Show details
    Cap Rate Potential
    8.6%
    Hospitals
    Location Intelligence
    Property ID
    US66-1975587
    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.

    Current Use by Public Records

    • Hospitals

    Property Details for 2910 Lermitage Pl

    Year built
    1988
    Lot size
    6.80 lot acres
    Property size
    56,105 SF
    Property type
    Hospitals
    APN
    56-12105
    APU
    5612105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,775,000
      ML approach
      $7,920,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,180,000
      6.5%
      $9,395,000
      7%
      $8,725,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,550,000
      Current use
      RESTAURANT
      $6,250,000
      Change: +37% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,580,000
      Change: +23% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $5,245,000
      Change: +15% Conversion: Difficult
      OFFICE BUILDING
      $5,010,000
      Change: +10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Stow
    County
    Summit
    State
    Ohio
    Longitude
    -81.4102
    Latitude
    41.1704
    CBSA code
    10420
    CBSA name
    AKRON, 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
    $128,169
    $297,580
    $1,660,100
    $1,957,680
    -
    $850,230
    $4,743,140
    $5,593,370

    Comparable in this City

    • Value Estimation
      $210,000
      0.05 Acres

      Vincent Rd

      HOSPITAL - PRIVATE • 0.05 Acres
      Vincent Rd, Stow, OH 44224
      View Details
    • Value Estimation
      $225,000
      1,423 SF

      3557 Elm Rd

      HOSPITAL - PRIVATE • 1,423 SF
      3557 Elm Rd, Stow, OH 44224-3914
      View Details
    • Value Estimation
      $965,000
      66,690 SF

      5000 Sowul Blvd

      HOSPITAL - PRIVATE • 66,690 SF
      5000 Sowul Blvd, Stow, OH 44224-6092
      View Details
    • Value Estimation
      $200,000
      2,852 SF

      2735 Norton Rd

      HOSPITAL - PRIVATE • 2,852 SF
      2735 Norton Rd, Stow, OH 44224-1672
      View Details
    • Value Estimation
      $230,000
      1,780 SF

      1855 Gorge Park Blvd

      HOSPITAL - PRIVATE • 1,780 SF
      1855 Gorge Park Blvd, Stow, OH 44224-4532
      View Details
    • Value Estimation
      $1,550,000
      53,592 SF

      4285 Kent Rd

      HOSPITAL - PRIVATE • 53,592 SF
      4285 Kent Rd, Stow, OH 44224-4355
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9.60 Acres

      Seasons Rd

      Distribution properties • 9.60 Acres
      0 Seasons Rd, Stow, OH 44224
      View Details
    • Contact for pricing

      Land Sites on Steels Corners Rd

      Commercial land sites with high visibility and accessibility.
      4150 Steels Pointe, Stow, OH 44224
      View Details
    • $520,000
      2 SF

      Prime Corner Land for Development

      2.5 acre corner lot near SR-91 in Stow, Ohio.
      Fishcreek Rd, Stow, OH 44224
      View Details
    • $200,000
      2.20 Acres

      Prime Land Development Opportunity

      Collection of 12 parcels, ready for residential or mixed-use development.
      V/L Housley Rd, Stow, OH 44224
      View Details
    • $309,900
      1,984 SF

      Updated Duplex in Stow, Ohio

      Updated brick ranch duplex in Stow, ideal for investors.
      4424-4428 Timberdale Dr, Stow, OH 44224
      View Details
    • $599,900
      5.04 Acres

      Commercial Land Near Silver Lake

      5.03 acre commercial land parcel near RT 8 in Stow.
      1231 Graham Road Cir, Stow, OH 44224
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      11,848 SF

      Former Nursing Home Facility Available

      Two buildings totaling 11,848 SF on 2.11 acres.
      3625 Marsh Rd, Stow, OH 44224
      View Details
    • $11 SF/Yr
      37,500 SF

      Stow Retail Center - Medical Office Space

      Prime Stow location, medical office suites available.
      1604-1650 Norton Rd, Stow, OH 44224
      View Details
    • $10 SF/Yr
      27,600 SF

      Stow Office Campus: Darrow Rd

      Versatile Office Space in Stow, Ohio
      4482 Darrow Rd, Stow, OH 44224
      View Details
    • Contact for pricing
      186,338 SF

      Stow Retail Development Opportunity

      3.07 Acres, Multi-Tenant Retail, C5 Zoning
      4141 Hudson Dr, Stow, OH 44224
      View Details
    • $14 SF/Yr
      13,757 SF

      Stow Office Suite - 2,000 SF

      Prime Stow location, 2,000 sq ft office space.
      4161 Steels Pointe, Stow, OH 44224
      View Details
    • Contact for pricing
      123,285 SF

      Fishcreek Plaza Retail Center

      Stow, OH Shopping Center - Spaces Available
      4445 Kent Rd, Stow, OH 44224
      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.
    2910 Lermitage Pl
    Stow, OH 44224-5219
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.