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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Office buildings
408 Richland Ave Athens, OH 45701-3208
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-2863602
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Total area
3,698 SF
Lot
0.17 ac (7,593 SF)
APN
A02-90600037-00
UPID
US66-2863602
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
-
Austral Engineering & Software Engineer
-
Diversified Properties Apartment Building
-
Sole & Bloom Realtors Real Estate Agency
-
Simmons & Simmons Insurance Insurance Agency
-
Sole-Wentworth Inc Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$575k
CAP Approach
CAP
$720k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$575k
Owner & transaction history
Foremost R E LLC · 2 yrs held
Foremost R E LLC
since 2024
Last sale
$575,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$355,000
+48.0%
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 Athens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Athens 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
$575,000
ML approach
$575,000
CAP Approach
CAP Return
Estimation
6%
$780,000
6.5%
$720,000
7%
$670,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$355,000
Change: +48% · Conversion: Easy
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $575k (May 6 2024)
Last sale anchor
$575k
May 6 2024
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
$155 / 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
$10,842
Tax year 2023
Assessed value
$119,020
Assessed 2023
Previous assessed
$119,020
+0.0% YoY
Effective rate
9.11%
On assessed value
Assessed land
$21,260
Assessed improvement
$97,760
Land market value
$60,740
Improvement market value
$279,300
Total market value
$340,040
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Total area
3,698 SF
Lot
0.17 ac (7,593 SF)
APN
A02-90600037-00
UPID
US66-2863602
Jurisdiction
ATHENS
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
COMMERCIAL (GENERAL)
Est. value
$355,000
COMMERCIAL (GENERAL)
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
1987
Heating
HOT WATER
Cooling
Yes
Stories
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
Foremost R E LLC
Entity
Mailing address
PO BOX 684, JACKSON, OH 45640-0684
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2024
$575,000
Foremost R E LLC
Properties Of Athens LLC
Warranty Deed
$517,500 · Atomic Cu
Apr 19, 2006
—
Diversified Properties Of Athens Ll
Diversified Properties
Warranty Deed
—
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.
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