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Property profile & analytics
FOR LEASE
Grocery and convenience stores
360 Market Dr Elyria, OH 44035
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US66-2587137
For Lease
1 / 2
$3,290,000
360 Market Dr, Elyria, OH 44035
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1999
Total area
25,304 SF
Lot
15.56 ac (677,794 SF)
APN
06-24-029-101-094
UPID
US66-2587137
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
-
Gabe's Discount Store
-
Amazon Locker - Hogback Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.92M
Comparable Approach
Comparable
$2.51M
Blend (final)
Blend
$3.29M
Owner & transaction history
Midway Market Square Elyria Ll · 9 yrs held
Midway Market Square Elyria Ll
since 2017
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+77.6%
Medical building
$2.4M
+51.3%
Auto repair, garage
$2.1M
+33.7%
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 Elyria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elyria 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,240,000
6.5%
$3,915,000
7%
$3,635,000
Alternative Use
Use
Estimation
RESTAURANT
$2,765,000
Change: +78% · Conversion: Easy
MEDICAL BUILDING
$2,355,000
Change: +51% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,085,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$2,055,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$3.29M
Range $2.96M – $3.62M · ±10%
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
$130 / 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
$356,317
Tax year 2023
Assessed value
$4,901,085
Assessed 2023
Previous assessed
$5,683,820
-13.8% YoY
Effective rate
7.27%
On assessed value
Assessed land
$1,081,759
Assessed improvement
$3,819,326
Land market value
$3,090,740
Improvement market value
$10,912,360
Total market value
$14,003,100
Applied tax rate
33.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1999
Heating
NONE
Buildings
3
Stories
1
Units
1
Total area
25,304 SF
Lot
15.56 ac (677,794 SF)
APN
06-24-029-101-094
UPID
US66-2587137
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
RESTAURANT
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.1M
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1999
Heating
NONE
Stories
1
Buildings
3
Units
1
Lot
15.56 ac
Current owner
From public records · entity-resolved
Midway Market Square Elyria Ll
Individual
Mailing address
BROOKLYN, NY 11218
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2017
—
Midway Market Square Elyria Ll
—
Deed
related
—
Jan 17, 2017
$20,500,000
Midway Market Square Elyria Ll
Erp Of Midway LLC
Trustees Deed
related
$17,500,000 · Fortress Cr
Dec 19, 2002
$23,740,000
New Plan Of Midway
Jg Midway LLC & Visconsi-midwa
Grant Deed
—
—
—
Midway Market Square Elyria Ll
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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