Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    32751 Lorain Rd North Ridgeville, OH 44039-3427
    Back to Search
    Property profile & analytics

    32751 Lorain Rd, North Ridgeville, OH 44039-3427

    View on Map
    • Motels
    • 13,186 SF
    • 4.06 lot acres
    Off-Market
    Property ID
    US66-6279011
    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
    $1,010,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for 32751 Lorain Rd

    Year built
    1964
    Lot size
    4.06 lot acres
    Property type
    Motels
    APN
    07-00-003-102-021
    APU
    700003102021

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 8, 2024 — Atit LLC — Deed · related $465k · The Huntington National Bank
    Feb 16, 2007 $960,000 Atit LLC Bavishi,nilam B Warranty Deed $1.2M · Community South Bank
    Mar 9, 2004 — Nilam B Bavishi Bavishi,bhupendra V & Nilam B Quit Claim Deed · related —
    Jan 20, 2004 — Nilam B Bavishi Bavishi,nilam B Quit Claim Deed · related $660k · Interbay Funding LLC

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,205,000
      6.5%
      $1,115,000
      7%
      $1,035,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $903,000
      Market price range: $295k - $1.49M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $735,000
      Current use
      COMMERCIAL (GENERAL)
      $1,375,000
      Change: +87% Conversion: Difficult
      RETAIL STORES
      $1,295,000
      Change: +76% Conversion: Difficult
      RESTAURANT
      $1,265,000
      Change: +72% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,120,000
      Change: +52% Conversion: Difficult
      MEDICAL BUILDING
      $950,000
      Change: +29% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Ridgeville
    County
    Lorain
    State
    Ohio
    Longitude
    -81.98
    Latitude
    41.382
    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
    $35,735
    $238,438
    $279,752
    $518,190
    -
    $681,250
    $799,290
    $1,480,540

    Comparable in this City

    • Value Estimation
      $515,000
      2,528 SF

      38784 Ctr Rdg Rd

      MOTEL
      38784 Ctr Rdg Rd, North Ridgeville, OH 44039-2838
      View Details
    • Value Estimation
      $635,000
      24,308 SF

      32801 Lorain Rd

      MOTEL
      32801 Lorain Rd, North Ridgeville, OH 44039-3429
      View Details
    • Value Estimation by Request
      1,881 SF

      38043 Ctr Rdg Rd

      MOTEL
      38043 Ctr Rdg Rd, North Ridgeville, OH 44039-2823
      View Details
    • Value Estimation by Request
      21,560 SF

      34282 Center Ridge Rd

      Individual retail properties
      34282 Center Ridge Rd, North Ridgeville, OH 44039
      View Details
    • Value Estimation by Request
      1.18 Acres

      Lear Nagle Rd

      VACANT COMMERCIAL LAND
      Lear Nagle Rd, North Ridgeville, OH 44039
      View Details
    • Value Estimation by Request
      29.65 Acres

      Case Rd

      VACANT COMMERCIAL LAND
      Case Rd, North Ridgeville, OH 44039
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,024 SF

      Event and Entertainment Facility

      Turnkey entertainment complex with banquet halls, kitchen, and bar.
      8820 Bender Rd, North Ridgeville, OH 44039
      View Details
    • Contact for pricing

      70 Acre Mixed-Use Development Land

      70 acre mixed-use development land in North Ridgeville, Ohio.
      Cypress Ave, North Ridgeville, OH 44039
      View Details
    • Contact for pricing

      Turnkey Medical Office Opportunity

      Well-maintained medical office building with excellent visibility and accessibility.
      34500 Center Ridge Rd, North Ridgeville, OH 44039
      View Details
    • Contact for pricing

      Versatile Commercial Condo For Sale

      Commercial condo with office and warehouse space in Ridgeville, OH.
      33472 Liberty Pkwy, North Ridgeville, OH 44039
      View Details
    • Contact for pricing
      9,024 SF

      Retail Redevelopment Opportunity

      9,024 SqFt retail space on 8.25 acres for sale.
      8820 Bender Rd, North Ridgeville, OH 44039
      View Details
    • Contact for pricing

      9.71 AC Commercial Land

      9.71 AC commercial land for sale in Elyria, OH.
      38550 Chestnut Ridge Rd, Elyria, OH 44039
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Available For Ground Lease

      Commercial land available for ground lease or purchase.
      33633 Bagley Rd, North Ridgeville, OH 44039
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Giant Eagle

      Retail space available in neighborhood shopping center near highways.
      34259 Center Ridge Rd, North Ridgeville, OH 44039
      View Details
    • Contact for pricing

      Retail Space on Center Ridge

      Inline retail space in high-traffic area, North Ridgeville, OH.
      34282 Center Ridge Rd, North Ridgeville, OH 44039
      View Details
    • Contact for pricing
      152,861 SF

      Expandable Warehouse with Outdoor Storage

      152,000 SF expandable warehouse with proximity to major highways.
      39400 Taylor Pkwy, Elyria, OH 44039
      View Details
    • Contact for pricing
      43,000 SF

      Retail Space in North Ridgeville

      Retail property for lease in a high-traffic area.
      35075 Center Ridge Rd, North Ridgeville, OH 44039
      View Details
    • Contact for pricing
      4,800 SF

      Retail Development Site on Center Ridge

      Prime retail development site in North Ridgeville, Ohio.
      34540 Center Ridge Rd, North Ridgeville, OH 44039
      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.
    32751 Lorain Rd
    North Ridgeville, OH 44039-3427
    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
    32751 Lorain Rd, North Ridgeville, OH, 44039
    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!