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    Property profile & analytics

    550 Aurora Rd Northfield, OH 44067-2108

    • Grocery and convenience stores
    • 50,232 SF
    • 4.27 lot acres
    OFF-MARKET
    Last Sale
    Mar 05, 2024
    $7,400,000
    Value Estimations
    $7,345,000
    Show details
    Cap Rate Potential
    4.3%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US66-1387480
    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

    • Grocery and convenience stores

    Property Details for 550 Aurora Rd

    Year built
    1975
    Lot size
    4.27 lot acres
    Property size
    50,232 SF
    Property type
    Grocery and convenience stores
    APN
    45-00365
    APU
    4500365

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,400,000
      ML approach
      $7,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,455,000
      6.5%
      $8,725,000
      7%
      $8,100,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,750,000
      Market price range: $1.78M - $6.79M

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

    Location Insight

    • Map
    • Local Demand
    City
    Northfield
    County
    Summit
    State
    Ohio
    Longitude
    -81.5583
    Latitude
    41.3134
    CBSA code
    10420
    CBSA name
    AKRON, 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
    $97,480
    $71,090
    $1,316,900
    $1,387,990
    -
    $203,120
    $3,762,580
    $3,965,700

    Comparable in this City

    • Value Estimation
      $450,000
      18,500 SF

      371 Aurora Rd

      GROCERY, SUPERMARKET • 18,500 SF
      371 Aurora Rd, Macedonia, OH 44067-2022
      View Details
    • Value Estimation
      $740,000
      62,747 SF

      290 Aurora Rd

      GROCERY, SUPERMARKET • 62,747 SF
      290 Aurora Rd, Northfield, OH 44067-2021
      View Details
    • Value Estimation
      $240,000
      3,340 SF

      9760 Olde 8th Rd

      GROCERY, SUPERMARKET • 3,340 SF
      9760 Olde 8th Rd, Northfield, OH 44067-1422
      View Details
    • Value Estimation
      $255,000
      9,900 SF

      9377 Olde 8th Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,900 SF
      9377 Olde 8th Rd, Northfield, OH 44067-2052
      View Details
    • Value Estimation
      $380,000
      4,290 SF

      8300 Golden Link Blvd

      FINANCIAL BUILDING • 4,290 SF
      8300 Golden Link Blvd, Northfield, OH 44067-2070
      View Details
    • Value Estimation
      $235,000
      1,248 SF

      9199 Olde 8th Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,248 SF
      9199 Olde 8th Rd, Northfield, OH 44067-2028
      View Details

    Similar Nearby for Sale

    • $85,000
      0.64 Acres

      Bakery Business in Prime Location

      Turnkey bakery business opportunity with classroom in high-traffic area.
      9293 Olde 8 Rd, Northfield, OH 44067
      View Details
    • $319,000
      0.09 Acres

      Northfield Commercial Land Investment

      Prime Ohio location, high-traffic area.
      0 Vl Northfield Rd, Northfield, OH 44067
      View Details
    • $99,000
      1.61 Acres

      Sagamore Hills Build-Ready Land

      1.61-acre lot in Sagamore Hills, build your dream home!
      8134 N Boyden Rd, Sagamore Hills, OH 44067
      View Details
    • $700,000

      2.28 Acre Parcel For Sale

      2.28 acre commercial land parcel for sale.
      10695 Northfield Rd, Northfield, OH 44067
      View Details
    • Contact for pricing
      2.28 Acres

      Prime Northfield Commercial Land

      2.28 Acres, High Traffic, Casino View
      0 Northfield Rd, Northfield, OH 44067
      View Details
    • $49,000
      0.16 Acres

      Buildable Lot in Northfield, Ohio

      Vacant 0.16-acre lot suitable for residential construction with utilities.
      73 Heights Ave, Northfield, OH 44067
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space For Lease

      Retail space available for lease in Macedonia, Ohio.
      746 E Aurora Rd, Macedonia, OH 44067
      View Details
    • $1,425 /Mo
      950 SF

      High-Visibility Retail Space Available

      950 SF retail space with display shelves and ADA restroom.
      781 E Aurora Rd, Macedonia, OH 44067
      View Details
    • Contact for pricing
      2,040 SF

      Freestanding Drive-Thru Restaurant Opportunity

      2,040 SF freestanding double drive-thru in Northfield, Ohio.
      81 E Aurora Rd, Northfield, OH 44067
      View Details
    • Contact for pricing
      206,310 SF

      Summit Plaza Retail Spaces

      Northfield, OH retail & office space
      10333 Northfield Rd, Northfield, OH 44067
      View Details
    • $16 SF/Yr
      2,400 SF

      Prime Retail Outlot Lease

      Sagamore Hills, OH retail space available.
      445 Aurora Rd, Northfield, OH 44067
      View Details
    • Contact for pricing
      12,600 SF

      Northfield Center Plaza Office Suites

      Two 1,200 sq ft office spaces available.
      9425 Olde 8 Rd, Northfield, OH 44067
      View Details

    Property Visit Statistics

    • Visits by month
      38.5k
    • Visitors by month
      20.8k
    • Avg Time on site
      32 min
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    550 Aurora Rd
    Northfield, OH 44067-2108
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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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