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Property profile & analytics
OFF-MARKET
Estimated value
$4,070,000
Medical Office Space
5940 Oak Pt Rd Lorain, OH 44053-4100
Individually Owned
Free & Clear
Property ID
US66-5274984
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Total area
30,744 SF
Lot
5.1 ac (222,156 SF)
APN
05-00-001-000-297
UPID
US66-5274984
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
-
Emily Lanzola Pediatrician Physician
-
Apex Dermatology Lorain Physician Medical Clinic
-
Dr. Mita Patel Physician
-
Mercy Health - Oak Point Rehabilitation and Therapy Medical Clinic
-
Rachelle Metz Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.10M
Blend (final)
Blend
$4.07M
Owner & transaction history
Mercy Health Regional Medical Cente
Mercy Health Regional Medical Cente
since 2026
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.6M
+129.1%
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
$2,865,000
Current use
APARTMENT HOUSE (5+ UNITS)
$6,560,000
Change: +129% · Conversion: Moderate
RESTAURANT
$2,745,000
Change: -4% · Conversion: Difficult
OFFICE BUILDING
$2,650,000
Change: -7% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,530,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$4.07M
Range $3.66M – $4.48M · ±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
$132 / 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
Assessed value
$1,576,313
Assessed 2023
Previous assessed
$1,576,320
0.0% YoY
Assessed land
$77,298
Assessed improvement
$1,499,015
Land market value
$220,850
Improvement market value
$4,282,900
Total market value
$4,503,750
Applied tax rate
43.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Heating
NONE
Stories
1
Units
1
Total area
30,744 SF
Lot
5.1 ac (222,156 SF)
APN
05-00-001-000-297
UPID
US66-5274984
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 Current
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.6M
RESTAURANT
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.5M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
5.1 ac
Current owner
From public records · entity-resolved
Mercy Health Regional Medical Cente
Individual
Free & Clear · 0 yrs held
Mailing address
1701 MERCY HEALTH PL, CINCINNATI, OH 45237-6147
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2026
—
Mercy Health Regional Medical Cente
Mercy Health Regional Medical Cente
Deed
related
—
Sep 5, 2018
—
Mercy Health-regional Medical
Mercy Health Foundation
Quit Claim Deed
related
—
Aug 17, 2018
$100,000
Mercy Health Foundation
Bitar,sandra L
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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