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    Property profile & analytics

    614 Prospect St Elyria, OH 44035-6635

    • Strip malls
    • 4,608 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimation
    $90,000
    Last Sale
    Jun 06, 2024
    $110,000
    Location Intelligence
    Property ID
    US66-2103914
    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

    • Jeanie's Party Cakes & Supplies / Wedding Bakery / Bakery

    Property Details for 614 Prospect St

    Year built
    1959
    Lot size
    0.38 lot acres
    Property size
    4,608 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    06-25-006-114-025
    APU
    625006114025

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elyria
    County
    Lorain
    State
    Ohio
    Longitude
    -82.0883
    Latitude
    41.3625
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, 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
    $3,015
    $14,483
    $23,639
    $38,122
    -
    $41,380
    $67,540
    $108,920

    Comparable in this City

    • Value Estimation by Request
      11,185 SF

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    • Value Estimation
      $1,545,000
      8,816 SF

      209 Midway Blvd Ste A

      SHOPPING CENTER, STRIP CENTER • 8,816 SF
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    • Value Estimation
      $915,000
      37,875 SF

      626 Leona St

      SHOPPING CENTER, STRIP CENTER • 37,875 SF
      626 Leona St, Elyria, OH 44035-2404
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    • Value Estimation
      $570,000
      1,530 SF

      38505 Chestnut Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 1,530 SF
      38505 Chestnut Rdg Rd, Elyria, OH 44035-8252
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    • Value Estimation
      $790,000
      26,048 SF

      620 Chestnut Cmns Dr

      SHOPPING CENTER, STRIP CENTER • 26,048 SF
      620 Chestnut Cmns Dr, Elyria, OH 44035-9612
      View Details
    • Value Estimation
      $395,000
      9,600 SF

      8703 Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 9,600 SF
      8703 Rdg Rd, Elyria, OH 44035-4568
      View Details

    Similar Nearby for Sale

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      24,871 SF

      Cleveland Street

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      50,000 SF

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      Former restaurant building near retail area, major highways, and retailers.
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      10,583 SF

      Freestanding Restaurant Building on Large Parcel

      10,583 SF restaurant on 3.67 acre parcel for sale.
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      Elyria Retail Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      2,900 SF

      Elyria Retail Space For Lease

      Retail spaces available in neighborhood shopping center anchored by major tenants.
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      5,450 SF

      Retail Space Near West River

      Retail space available in a plaza near West River Road.
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      267,000 SF

      River Street Square Retail Center

      Elyria, Ohio Shopping Center - 16 Spaces Available
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      Elyria Shoppes: Retail Space Available

      Prime Elyria retail space, high visibility, flexible sizes.
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      1,423 SF

      Retail Space Near Major Anchors

      Retail space with high visibility and major anchor tenants.
      5202 Cobblestone Rd, Sheffield Village, OH 44035
      View Details
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    614 Prospect St
    Elyria, OH 44035-6635
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    Realmo Value Estimation

    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.

    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.

    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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