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Property profile & analytics
FOR LEASE
Office Spaces
5319 Meadow Lane Ct Sheffield Village, OH 44035
Entity Owned
26-yr Hold
Free & Clear
Property ID
US66-1059688
For Lease
1 / 47
$2,500/Mo
5319 Meadow Lane Ct, Sheffield Village, OH 44035
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Property summary
AI-generated overview
This 2,409 square foot office condo, built in 1998 (estimated), is ideally situated in a prime Lorain County location, sharing a Sheffield Village/Elyria mailing address. Currently configured as a medical/doctor's office, this property presents a fantastic investment opportunity. The asking price is $325,000. The property sits on a 0.06-acre lot and is conveniently located minutes from I-90/254, offering easy access to Elyria, Avon, and Sheffield, as well as Lorain County Community College. The building's exterior, lawn care, snow removal, and parking lot maintenance are all covered by a $777 monthly association fee (through Continental Mgmt), which also includes trash removal. The current tenant lease expires October 31, 2024
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1997
Total area
2,409 SF
Lot
0.05 ac (2,178 SF)
APN
03-00-001-704-001
UPID
US66-1059688
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
-
Dr. Rogener B. Lacerna, MD Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
CADIO
CADIO
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Sheffield Village submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sheffield Village 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,943
Tax year 2023
Assessed value
$92,484
Assessed 2023
Previous assessed
$92,480
+0.0% YoY
Effective rate
6.43%
On assessed value
Assessed land
$7,000
Assessed improvement
$85,484
Land market value
$20,000
Improvement market value
$244,240
Total market value
$264,240
Applied tax rate
65.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
For Lease
Year built
1997
Heating
NONE
Stories
1
Units
1
Total area
2,409 SF
Lot
0.05 ac (2,178 SF)
APN
03-00-001-704-001
UPID
US66-1059688
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
Building & site characteristics
From public records
Year built
1997
Heating
NONE
Stories
1
Units
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
CADIO
Individual
Free & Clear · 0 yrs held
Mailing address
5319 MDW LN CT #20, SHEFFIELD LAKE, OH 44054
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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