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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    38525 Chester Rd Avon, OH 44011-1177

    • Retail space
    • 20,700 SF
    • 2.47 lot acres
    OFF-MARKET
    Value Estimations
    $735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-4585768
    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

    • ABC Equipment Rental & Sales / Equipment Rental Agency / Construction Equipment Supplier
    • Avon Truck Services Center / Truck Repair Shop
    • A. Zatik Law, LLC / General Practice Attorney / Trial Attorney
    • Play: CLE / Bar / Children'S Amusement Center

    Property Details for 38525 Chester Rd

    Lot size
    2.47 lot acres
    Property size
    20,700 SF
    Property type
    Retail space
    APN
    04-00-004-102-204
    APU
    400004102204

    Description

    This exceptional 10.31-acre commercial land parcel, located at 38525 Chester Rd in Avon, Ohio, presents a remarkable development opportunity. The property boasts two prime commercial sites, measuring 2.9 and 4.8 acres respectively, offering immediate access and high visibility from Interstate 90, a major transportation artery. This strategic location ensures significant exposure to a large volume of daily traffic, making it ideal for a variety of commercial ventures. The property is zoned C-4, allowing for a wide range of commercial uses, subject to local regulations. All utilities are conveniently located at the sites, simplifying the development process and reducing infrastructure costs. The parcel's APN numbers are 0400004102202 and 0400004102207. Situated in Lorain County, Ohio, with a zip code of 44011, this property offers unparalleled convenience and accessibility. The asking price for this exceptional investment opportunity is $3,850,000. This is a rare chance to acquire a substantial, strategically located commercial land parcel with significant development potential. Don't miss this opportunity to capitalize on the thriving commercial landscape of Avon, Ohio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $585,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $797,000
      Market price range: $797k - $2.57M
      AI Estimate
      $815,000
      Market price range: $585k - $2.98M

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

    Location Insight

    • Map
    • Local Demand
    City
    Avon
    County
    Lorain
    State
    Ohio
    Longitude
    -82.0533
    Latitude
    41.4664
    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
    $25,674
    $69,160
    $330,764
    $399,924
    -
    $197,600
    $945,040
    $1,142,640

    Comparable in this City

    • Value Estimation
      $1,330,000
      9,420 SF

      35455 Chester Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,420 SF
      35455 Chester Rd, Avon, OH 44011-1256
      View Details
    • Value Estimation by Request
      4,960 SF

      36475 Detroit Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,960 SF
      36475 Detroit Rd, Avon, OH 44011-1508
      View Details
    • Value Estimation by Request
      968 SF

      36719 Detroit Rd

      RETAIL STORES (PERSONAL SERVICES) • 968 SF
      36719 Detroit Rd, Avon, OH 44011-1513
      View Details
    • Value Estimation by Request
      3,820 SF

      37080 Detroit Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,820 SF
      37080 Detroit Rd, Avon, OH 44011-1702
      View Details
    • Value Estimation by Request
      1,118 SF

      36951 Detroit Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,118 SF
      36951 Detroit Rd, Avon, OH 44011-1517
      View Details
    • Value Estimation by Request
      1,301 SF

      37231 Colorado Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,301 SF
      37231 Colorado Ave, Avon, OH 44011-1527
      View Details

    Similar Nearby for Sale

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      Profitable Investment Opportunity in Avon

      Two adjacent condos leased to Buckeye Bank and R.A.B. Financial.
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      Avon, OH Dick's Sporting Goods Investment

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      1.00 Acre

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      High-traffic location, prime redevelopment opportunity.
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    • $1,250,000
      0.39 Acres

      Historic Avon Restaurant/Bar Opportunity

      Established restaurant/bar location with long-term tenant in place.
      36816 Detroit Rd, Avon, OH 44011
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      2.34 Acres

      Avon, OH Commercial Land Opportunity

      Prime Avon location, divisible parcels, C-4 zoning
      and 611 Recreation Ln, Avon, OH 44011
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    • $79,900
      Pending

      Residential Lot in Avon, Ohio

      Residentially-zoned lot in Avon to build your dream home.
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    Similar Nearby for Lease

    • Contact for pricing
      1,411 SF

      Avon Retail Space - Drive-Thru Available

      High-traffic Avon retail space, drive-thru ready.
      36290 Detroit Rd, Avon, OH 44011
      View Details
    • Contact for pricing
      7,500 SF

      Prime Retail Space Available

      Retail space in high-traffic area near major retailers.
      35858 Detroit Rd, Avon, OH 44011
      View Details
    • Contact for pricing
      4,323 SF

      Retail Space Near I-90

      Newly constructed retail space with excellent visibility and access.
      35405 Chester Rd, Avon, OH 44011
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space Near Major Retailers

      10,000 SF retail space in a high-growth area.
      35701-35815 Chester Rd, Avon, OH 44011
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space on Detroit Road

      Retail space available for lease on Detroit Road.
      35514 Detroit Rd, Avon, OH 44011
      View Details
    • Contact for pricing
      1,900 SF

      Retail Space in Avon, Ohio

      Retail space available in a shopping center with highway visibility.
      35966 Detroit Rd, Avon, OH 44011
      View Details
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    38525 Chester Rd
    Avon, OH 44011-1177
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    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
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