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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    604 57Th St Ashtabula, OH 44004

    • Commercial real estate
    • 0.20 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-4299967
    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

    • Harvest International Church / Church
    • Ashtabula Dream Center / Charity

    Property Details for 604 57Th St

    Year built
    1922
    Lot size
    0.20 lot acres
    Property type
    Commercial real estate

    Description

    This unique 0.2-acre property at 604 W 57th Street in Ashtabula, Ohio, presents a compelling investment opportunity. Previously operating as a church, the building now offers a flexible mixed-use layout ideal for a variety of commercial ventures. The structure boasts ample office space, substantial storage areas, and a fully finished basement, adding significant versatility. A functional kitchen area is also included, providing further adaptability. Attached is a two-bay garage with additional storage space on the second floor, enhancing the property's utility. Significant updates have been implemented to improve efficiency and longevity. The roof was completely replaced in 2011 by Puffer Roofing. Heating systems have been addressed with a Trane downstairs furnace installed in 2014 by Apple Heating, and an older furnace remains. Window replacements have also been undertaken, with sanctuary windows updated in 2014 by W.S.A., and sanctuary bathroom windows replaced in 2021 by W.S.A. This property's combination of space, updated systems, and adaptable layout makes it an attractive prospect for entrepreneurs seeking a unique commercial space in a convenient Ashtabula location. The asking price is $95,500. The square footage is not currently available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ashtabula
    County
    Ashtabula
    State
    Ohio
    Longitude
    -80.78864
    Latitude
    41.85642

    Comparable in this City

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    • $249,900
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      Elegant sanctuary, versatile space, huge potential.
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    • $410,000
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      Historic Ashtabula Restaurant Building

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    • $239,000
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      Prime Ashtabula Commercial Lot

      Established Car Lot, 0.2 Acres
      1606 Prospect Rd, Ashtabula, OH 44004
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    • $525,000
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      Prime 52-Acre Development Land

      Ohio Residential Development Opportunity
      0 38Th St, Ashtabula, OH 44004
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    • $199,999
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      Downtown Ashtabula Commercial Property

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      4118 Main Ave, Ashtabula, OH 44004
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    Similar Nearby for Sale

    • $410,000
      2,448 SF

      Historic Ashtabula Restaurant Building

      Prime Location, Endless Potential, Turnkey Operation
      4861 Ridge Rd, Ashtabula, OH 44004
      View Details
    • $249,900
      0.43 Acres

      Historic Ashtabula Church - Prime Location

      Elegant sanctuary, versatile space, huge potential.
      504 Lake Ave, Ashtabula, OH 44004
      View Details
    • $85,000
      8,736 SF

      Prime Ashtabula Industrial Space

      Huge Warehouse, Great Location, $85k
      516 48Th St, Ashtabula, OH 44004
      View Details
    • $239,000
      0.20 Acres

      Prime Ashtabula Commercial Lot

      Established Car Lot, 0.2 Acres
      1606 Prospect Rd, Ashtabula, OH 44004
      View Details
    • $525,000
      52.36 Acres

      Prime 52-Acre Development Land

      Ohio Residential Development Opportunity
      0 38Th St, Ashtabula, OH 44004
      View Details
    • $199,999
      0.33 Acres

      Downtown Ashtabula Commercial Property

      Five-Unit Multi-Use Investment
      4118 Main Ave, Ashtabula, OH 44004
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,500 SF

      Prime Ashtabula Retail Space

      High-traffic retail space, 4,000 sq ft available.
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    • Contact for pricing
      6,183 SF

      Retail Space in Home Depot Plaza

      Retail space for lease in Ashtabula County, Ohio.
      3200 Market Place Dr, Ashtabula, OH 44004
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    • $24,520
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      Ashtabula Retail Space Available

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      3315 N Ridge Rd, Ashtabula, OH 44004
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    • $9 SF/Yr
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      Retail Spaces Available for Lease

      Multiple retail units available for lease in a shopping center.
      2400-2530 W Prospect Rd, Ashtabula, OH 44004
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      Ashtabula Retail Space For Lease

      Prime Retail Building, Ample Parking
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    • Contact for pricing
      3,350 SF

      Retail/Medical Space in Plaza East

      Turn-key retail and medical spaces available in busy Ashtabula.
      2825-2893 N Ridge Rd, Ashtabula, OH 44004
      View Details
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    604 57Th St
    Ashtabula, OH 44004
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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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