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

    38530 Chester Industrial Pkwy Avon, OH 44011

    • Office buildings
    • 10,388 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2022
    $2,325,000
    Value Estimations
    $1,930,000
    Show details
    Cap Rate Potential
    7.7%
    Office buildings
    Location Intelligence
    Property ID
    US66-2910108
    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

    • Office buildings

    Property Details for 38530 Chester Industrial Pkwy

    Year built
    2005
    Lot size
    1.01 lot acres
    Property size
    10,388 SF
    Property type
    Office buildings
    APN
    04-00-004-102-135
    APU
    400004102135

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,825,000
      ML approach
      $1,860,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,330,000
      6.5%
      $2,150,000
      7%
      $2,000,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,630,000
      APARTMENT HOUSE (5+ UNITS)
      $1,450,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Avon
    County
    Lorain
    State
    Ohio
    Longitude
    -82.0543
    Latitude
    41.4675
    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
    $32,095
    $46,197
    $453,726
    $499,923
    -
    $131,990
    $1,296,360
    $1,428,350

    Comparable in this City

    • Value Estimation
      $910,000
      2,597 SF

      36901 American Way

      OFFICE BUILDING • 2,597 SF
      36901 American Way, Avon, OH 44011-4057
      View Details
    • Value Estimation
      $1,505,000
      10,940 SF

      1061 Ctr Rd

      OFFICE BUILDING • 10,940 SF
      1061 Ctr Rd, Avon, OH 44011-1205
      View Details
    • Value Estimation
      $525,000
      8,924 SF

      36080 Chester Rd

      OFFICE BUILDING • 8,924 SF
      36080 Chester Rd, Avon, OH 44011-1070
      View Details
    • Value Estimation by Request
      1,426 SF

      37271 Colorado Ave

      OFFICE BUILDING • 1,426 SF
      37271 Colorado Ave, Avon, OH 44011-1527
      View Details
    • Value Estimation by Request
      1,450 SF

      36855 American Way Ste 2c

      OFFICE BUILDING • 1,450 SF
      36855 American Way Ste 2c, Avon, OH 44011-4055
      View Details
    • Value Estimation by Request
      1,576 SF

      36905 Detroit Rd

      OFFICE BUILDING • 1,576 SF
      36905 Detroit Rd, Avon, OH 44011-1517
      View Details

    Similar Nearby for Sale

    • $450,000
      1,746 SF

      Avon Creative Office Building

      Profitable Avon Office, 100% Occupancy
      37040 Colorado Ave, Avon, OH 44011
      View Details
    • $475,000
      2,836 SF

      Avon Pointe Medical Office Condo

      Prime Avon, OH medical office space.
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    • $399,000
      0.13 Acres

      Avon Office Building: Prime Investment

      Updated Avon Office, Strong Tenants, High ROI
      37040 Colorado Ave, Avon, OH 44011
      View Details
    • $1,747,000
      7,082 SF

      Avon Office Condos: High ROI

      Two-building office complex, 8.15% cap rate.
      36901 American Way, Avon, OH 44011
      View Details
    • $350,000

      Avon Office Investment Opportunity

      Professional office in Avon, remodeled in 2017 with long-term tenants.
      37040 Colorado Ave, Avon, OH 44011
      View Details
    • $475,000
      2,836 SF

      Medical/Professional Office Space Available

      Located in a fast-growing trade area with high visibility.
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    Similar Nearby for Lease

    • $1,750 /Mo
      2,614 SF

      Professional Office Suite in Avon

      Versatile office space suitable for medical, administrative, or general use.
      36701 American Way, Avon, OH 44011
      View Details
    • $2,900 /Mo
      44,867 SF

      Avon Warehouse and Office Space

      Well-maintained warehouse and office building near I-90 in Avon, OH.
      1224 Lear Industrial Pkwy, Avon, OH 44011
      View Details
    • $14 SF/Yr
      25,359 SF

      Avon Office Space for Lease

      High-visibility Avon office space available.
      2100 Center Rd, Avon, OH 44011
      View Details
    • Contact for pricing
      70,000 SF

      Avon Manufacturing and Warehouse Space

      70,000 SF manufacturing/office/storage space near I-90 in Avon, OH.
      1500 Nagel Rd, Avon, OH 44011
      View Details
    • 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

      Land Opportunity Adjacent to Meijer

      Prime land available for lease in a high-income community.
      1884 Nagel Rd, Avon, OH 44011
      View Details
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    Avon, OH 44011
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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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