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Property profile & analytics
FOR SALE
Medical Office Space
6055 Park Square Dr Lorain, OH 44053
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US66-1161937
For Sale
$610,000
6055 Park Square Dr, Lorain, OH 44053
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Total area
5,760 SF
Lot
1.15 ac (50,094 SF)
APN
05-00-020-000-077
UPID
US66-1161937
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
-
Rebecca Ware MD Physician
-
NOMS Dr. Rebecca A. Ware, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$679k
Blend (final)
Blend
$610k
Owner & transaction history
Noms Property LLC · 7 yrs held
Noms Property LLC
since 2019
7 recorded transactions
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 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
$535,000
Current use
RESTAURANT
$515,000
Change: -4% · Conversion: Difficult
OFFICE BUILDING
$495,000
Change: -7% · Conversion: Easy
AUTO REPAIR, GARAGE
$475,000
Change: -12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$445,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$106 / 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
$15,929
Tax year 2023
Assessed value
$261,128
Assessed 2023
Previous assessed
$261,130
0.0% YoY
Effective rate
6.10%
On assessed value
Assessed land
$34,993
Assessed improvement
$226,135
Land market value
$99,980
Improvement market value
$646,100
Total market value
$746,080
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
For Sale
Year built
2001
Heating
NONE
Stories
2
Units
1
Total area
5,760 SF
Lot
1.15 ac (50,094 SF)
APN
05-00-020-000-077
UPID
US66-1161937
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
$535,000
RESTAURANT
Est. value
$515,000
OFFICE BUILDING
Est. value
$495,000
AUTO REPAIR, GARAGE
Est. value
$475,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$445,000
MEDICAL BUILDING Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2001
Heating
NONE
Stories
2
Units
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
Noms Property LLC
Entity
Mailing address
3004 HAYES AVE, SANDUSKY, OH 44870-5321
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
Jul 14, 2025
—
Noms Property LLC
—
Deed
related
$130,000 · The Croghan Colonial Bank
Aug 1, 2024
—
Noms Property LLC
—
Deed
related
$2,593,495 · The Croghan Colonial Bank
Sep 21, 2020
—
Noms Property LLC
—
Deed
related
$175,721 · Croghan Colonial Bk
Oct 2, 2019
—
Nomas Property LLC
—
Deed
related
$175,721 · The Croghan Colonial Bank
Feb 6, 2019
$425,000
Noms Property LLC
Oak Point Co Ltd
Warranty Deed
$340,000 · The Croghan Colonial Bank
—
—
Noms Property LLC
—
Loan Modification
related
$175,721 · Croghan Colonial Bk
—
—
Noms Property
—
Loan Modification
related
$616,000 · Croghan Colonial Bk
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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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