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

    3756 Erie Ave, Unit 100 Lorain, OH 44053-1284

    • Assisted living facilities
    • 16,528 SF
    • 1.19 lot acres
    OFF-MARKET
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1397874
    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

    • Kimberly S. Martin, COTA / Occupational Therapist
    • Sprenger Health Care Anchor Lodge Retirement Village / Assisted Living Facility / Nursing Home

    Property Details for 3756 Erie Ave

    Year built
    1987
    Lot size
    1.19 lot acres
    Property size
    16,528 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    02-02-020-101-005
    APU
    202020101005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $960,000
      Current use
      RETAIL STORES
      $1,385,000
      Change: +44% Conversion: Difficult
      MEDICAL BUILDING
      $905,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.2166
    Latitude
    41.4522
    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
    $90,010
    $46,620
    $1,098,958
    $1,145,578
    -
    $133,200
    $3,139,880
    $3,273,080

    Comparable in this City

    • Value Estimation
      $3,520,000
      23,911 SF

      3650 Beavercrest Dr, Unit 1

      HOMES (RETIRED, NURSING) • 23,911 SF
      3650 Beavercrest Dr, Lorain, OH 44053-1710
      View Details
    • Value Estimation by Request
      4,488 SF

      4615 Meister Rd

      HOMES (RETIRED, NURSING) • 4,488 SF
      4615 Meister Rd, Lorain, OH 44053-1530
      View Details
    • Value Estimation by Request
      5,909 SF

      3756 Erie Ave

      HOMES (RETIRED, NURSING) • 5,909 SF
      3756 Erie Ave, Lorain, OH 44053-1292
      View Details
    • Value Estimation by Request
      3,336 SF

      3708 Erie Ave

      HOMES (RETIRED, NURSING) • 3,336 SF
      3708 Erie Ave, Lorain, OH 44053
      View Details
    • Value Estimation by Request
      1,418 SF

      4658 Oberlin Ave, Unit 101

      HOMES (RETIRED, NURSING) • 1,418 SF
      4658 Oberlin Ave, Lorain, OH 44053-3174
      View Details
    • Value Estimation by Request
      716 SF

      3708 Erie Ave

      HOMES (RETIRED, NURSING) • 716 SF
      3708 Erie Ave, Lorain, OH 44053
      View Details

    Similar Nearby for Sale

    • New
      $349,900
      5,400 SF

      Turnkey Medical Office, Lorain, OH

      5,400 sq ft commercial building on 1.2-acre lot.
      4520 Oberlin Ave, Lorain, OH 44053
      View Details
    • $3,150,000
      25.51 Acres

      Amherst Retail Corridor Land

      25.51 Acres, Prime Development Site
      2200 Cooper Foster Park Rd, Lorain, OH 44053
      View Details
    • Contact for pricing
      3,244 SF

      Office Space Near Emerging Interchange

      Office space for sale near Target, Lowe’s, and Cleveland Clinic.
      6145 Park Square Dr, Lorain, OH 44053
      View Details
    • $475,000
      0.48 Acres

      Lorain Office Building For Sale

      Office building in Lorain, previously used as a doctor's office.
      1670 Cooper Foster Park Rd W, Lorain, OH 44053
      View Details
    • $125,000
      0.04 Acres

      Retail Building in High-Traffic Location

      Prime retail opportunity in Lorain, Ohio with high visibility.
      3346 Oberlin Ave, Lorain, OH 44053
      View Details
    • $260,000
      0.26 Acres

      Lorain Commercial Building - Great Potential

      All-brick building, versatile, strong cash flow.
      4940 Oberlin Ave, Lorain, OH 44053
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,907 SF

      Oak Point Medical Condos For Sale/Lease

      Medical Office Suites, Lorain County, OH
      0 Park Square Dr, Lorain, OH 44053
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space Near I-90

      Retail space available near I-90 with flexible layout.
      1980-2000 Cooper Foster Park Rd, Lorain, OH 44053
      View Details
    • $3,750,000
      81,640 SF

      Lorain Industrial Redevelopment Opportunity

      81,640 SF industrial building on 38.3 acres for lease.
      7451 Terminal Dr, Lorain, OH 44053
      View Details
    • Contact for pricing
      6,000 SF

      Lorain Meijer Outparcel Land

      Prime retail land, build-to-suit options.
      3100 Cooper Foster Park Rd, Lorain, OH 44053
      View Details
    • Contact for pricing
      13,103 SF

      Lorain Retail Spaces Available

      Prime Lorain location, multiple retail spaces.
      4805 Leavitt Rd, Lorain, OH 44053
      View Details
    • Contact for pricing

      Retail Anchor Space Available

      Anchor and junior anchor spaces available in Lorain, Ohio.
      2418-2630 West 21St St, Lorain, OH 44053
      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.
    3756 Erie Ave, Unit 100
    Lorain, OH 44053-1284
    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.