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Property profile & analytics
OFF-MARKET
Estimated value
$2,590,000
Parking lots & garages
615 Latham Ln New Franklin, OH 44319-4338
Entity Owned
Free & Clear
Property ID
US66-2013253
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1960
Construction
FRAME
Total area
23,726 SF
Lot
6.15 ac (267,894 SF)
APN
23-04656
UPID
US66-2013253
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
$2.23M
Blend (final)
Blend
$2.59M
Owner & transaction history
615 Latham Lane LLC
615 Latham Lane LLC
since 2026
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.6M
+11.2%
Restaurant
$2.5M
+8.2%
Auto repair, garage
$2.4M
+1.7%
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 New Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Franklin 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
PARKING LOT
$2,325,000
Current use
MEDICAL BUILDING
$2,590,000
Change: +11% · Conversion: Difficult
RESTAURANT
$2,515,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,365,000
Change: +2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,240,000
Change: -4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,220,000
Change: -5% · Conversion: Difficult
OFFICE BUILDING
$1,910,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.59M
Range $2.33M – $2.85M · ±10% · vs last sale $2.77M (Feb 6 2026)
Last sale anchor
$2.77M
Feb 6 2026
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
$109 / 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
$134
Tax year 2023
Assessed value
$1,128,950
Assessed 2023
Previous assessed
$1,128,950
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$168,920
Assessed improvement
$960,030
Land market value
$482,630
Improvement market value
$2,742,930
Total market value
$3,225,560
Applied tax rate
23.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1960
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
28
Bathrooms
9
Total area
23,726 SF
Lot
6.15 ac (267,894 SF)
APN
23-04656
UPID
US66-2013253
Jurisdiction
SUMMIT
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
PARKING LOT Current
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.6M
RESTAURANT
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.9M
PARKING LOT Current
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1960
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
28
Bathrooms
9
Lot
6.15 ac
Current owner
From public records · entity-resolved
615 Latham Lane LLC
Entity
Free & Clear · 0 yrs held
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2026
$2,772,368
615 Latham Lane LLC
St Luke Lutheran Community Portage
Deed
—
Jan 30, 2004
$2,300,000
St Luke Lutheran Community
Healthaven Corp
Grant Deed
$3,500,000 · Unizan Bank NA
—
—
Lutheran Cmnty-portage St. Luke
—
Deed Of Trust
related
$950,000 · Huntington National Bank
—
—
Lutheran Cmnty-portage St. Luke
—
Deed Of Trust
related
$17,760,000 · Pnc Bank
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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