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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Investment properties
550 Broadway Lorain, OH 44052-1732
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US66-2146681
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1950
Total area
8,400 SF
Lot
0.12 ac (5,227 SF)
APN
02-01-004-103-026
UPID
US66-2146681
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$649k
Blend (final)
Blend
$860k
Owner & transaction history
Broadway 550 Management LLC · 7 yrs held
Broadway 550 Management LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$780,000
+68.5%
Restaurant
$750,000
+61.6%
Office building
$725,000
+56.1%
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
MEDICAL BUILDING
$780,000
Change: +69% · Conversion: Easy
RESTAURANT
$750,000
Change: +62% · Conversion: Difficult
OFFICE BUILDING
$725,000
Change: +56% · Conversion: Easy
AUTO REPAIR, GARAGE
$690,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$650,000
Change: +40% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$550,000
Change: +19% · Conversion: Moderate
RETAIL STORES
$520,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$860k
Range $774k – $946k · ±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
$102 / 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
$5,633
Tax year 2023
Assessed value
$68,307
Assessed 2023
Previous assessed
$38,770
+76.2% YoY
Effective rate
8.25%
On assessed value
Assessed land
$7,319
Assessed improvement
$60,988
Land market value
$20,910
Improvement market value
$174,250
Total market value
$195,160
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1950
Heating
NONE
Stories
2
Units
1
Total area
8,400 SF
Lot
0.12 ac (5,227 SF)
APN
02-01-004-103-026
UPID
US66-2146681
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
MEDICAL BUILDING
Est. value
$780,000
RESTAURANT
Est. value
$750,000
OFFICE BUILDING
Est. value
$725,000
AUTO REPAIR, GARAGE
Est. value
$690,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$650,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$550,000
RETAIL STORES
Est. value
$520,000
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
Year built
1950
Heating
NONE
Stories
2
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Broadway 550 Management LLC
Entity
Mailing address
2657 BAYFAIR DR, OLMSTED FALLS, OH 44138
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2019
$40,000
Broadway 550 Management LLC
City Of Lorain
Limited Warranty Deed
$32,000 · Buckeye Community Bank
Oct 19, 2018
—
City Of Lorain
Smith Joel R
Deed In Lieu Of Foreclosure
related
—
Feb 12, 2016
—
City Of Lorain
Costello Orothy M Trust
Quit Claim Deed
related
—
May 19, 2011
—
Costello Dorothy M Trust
Costello,dorothy M
Quit Claim Deed
related
—
Apr 20, 2011
—
Dorothy M Costello
Costello,peter A
Affidavit Of Death
related
—
Aug 7, 2009
—
Peter A Costello
Costello,peter A
Quit Claim Deed
related
—
—
—
Joel R Smith
—
Deed Of Trust
related
$193,011 · Lorain City
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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