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Property profile & analytics
OFF-MARKET
Estimated value
$2,860,000
Strip malls
4340 Leavitt Rd Ste A Lorain, OH 44053-2386
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US66-4211874
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Total area
34,315 SF
Lot
3.01 ac (131,116 SF)
APN
02-02-008-107-053
UPID
US66-4211874
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
-
rue21 Clothing Store Fashion Accessories Store
-
Ohio BMV License Services Law Firm
-
Charles Chapman - State Farm Insurance Agent Insurance Agency
-
Testosterone HGH MedCore Therapy Center Medical Clinic
-
Famous Footwear Clothing & Fashion Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.42M
Blend (final)
Blend
$2.86M
Owner & transaction history
Lighthouse Plaza LLC · 14 yrs held
Lighthouse Plaza LLC
since 2012
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.2M
+20.8%
Restaurant
$3.1M
+15.8%
Office building
$3.0M
+11.9%
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 Lorain submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lorain 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,645,000
Current use
MEDICAL BUILDING
$3,195,000
Change: +21% · Conversion: Difficult
RESTAURANT
$3,065,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$2,960,000
Change: +12% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,825,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$2,120,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$2.86M
Range $2.57M – $3.15M · ±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
$83 / 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
$103,818
Tax year 2023
Assessed value
$1,321,327
Assessed 2023
Previous assessed
$1,293,870
+2.1% YoY
Effective rate
7.86%
On assessed value
Assessed land
$183,561
Assessed improvement
$1,137,766
Land market value
$524,460
Improvement market value
$3,250,760
Total market value
$3,775,220
Applied tax rate
42.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Heating
NONE
Stories
1
Units
1
Total area
34,315 SF
Lot
3.01 ac (131,116 SF)
APN
02-02-008-107-053
UPID
US66-4211874
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$3.2M
RESTAURANT
Est. value
$3.1M
OFFICE BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RETAIL STORES
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
Heating
NONE
Stories
1
Units
1
Lot
3.01 ac
Current owner
From public records · entity-resolved
Lighthouse Plaza LLC
Entity
Mailing address
4340 LEAVITT RD, LORAIN, OH 44053-2386
Ownership since
2012
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
Jun 27, 2016
—
Lighthouse Plaza LLC
—
Deed
related
$500,000 · First Fed'l S&l/lakewood
Apr 23, 2012
$500,000
Lighthouse Plaza LLC
Lighthouse Village Partners LLC
Limited Warranty Deed
$3,500,000 · First Federal Savings & Loan Associ
—
—
Lighthouse Plaza LLC
—
Deed Of Trust
related
$2,600,000 · First Fed'l S&l/lakewood
—
—
Lighthouse Plaza LLC
—
Deed Of Trust
related
$500,000 · First Fed'l S&l/lakewood
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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