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Property profile & analytics
OFF-MARKET
Estimated value
$1,515,000
Office buildings
6150 Park Sq Dr Ste A Lorain, OH 44053-4153
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-1138439
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Total area
13,198 SF
Lot
2.37 ac (103,237 SF)
APN
05-00-020-000-070
UPID
US66-1138439
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
-
K Hovnanian Homes Construction Company General Contractor
-
Firelands Counseling And Recovery Counselor Mental Health Service
-
Lorain County Health & Dentistry at Firelands Community Health Centre Health Care Facility
-
Top Solutions Cooling & Heating HVAC Service General Contractor
-
Ace Wellness Center Lorain Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$979k
Blend (final)
Blend
$1.52M
Owner & transaction history
6150 Park Square LLC · 2 yrs held
6150 Park Square LLC
since 2024
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+8.0%
Restaurant
$1.2M
+3.5%
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
OFFICE BUILDING
$1,140,000
Current use
MEDICAL BUILDING
$1,230,000
Change: +8% · Conversion: Easy
RESTAURANT
$1,180,000
Change: +4% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,085,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,020,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.52M
Range $1.36M – $1.67M · ±10% · vs last sale $1.34M (Apr 15 2024)
Last sale anchor
$1.34M
Apr 15 2024
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
$115 / 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
$15,127
Tax year 2023
Assessed value
$247,993
Assessed 2023
Previous assessed
$247,990
+0.0% YoY
Effective rate
6.10%
On assessed value
Assessed land
$108,399
Assessed improvement
$139,594
Land market value
$309,710
Improvement market value
$398,840
Total market value
$708,550
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2001
Heating
NONE
Stories
2
Units
1
Total area
13,198 SF
Lot
2.37 ac (103,237 SF)
APN
05-00-020-000-070
UPID
US66-1138439
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
OFFICE BUILDING Current
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
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
2.37 ac
Current owner
From public records · entity-resolved
6150 Park Square LLC
Entity
Mailing address
29111 PO BOX 439TH RD, VERMILION, OH 44089-0439
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2024
$1,340,000
6150 Park Square LLC
Bennington Investments LLC
Limited Warranty Deed
$1,072,000 · The Huntington National Bank
Jan 12, 2018
$114,000
K Hovnanian Landings 40s LLC
Lorain Landings Dev Co LLC
Grant Deed
—
Dec 20, 2017
$38,000
K Hovnanian Landings 40s LLC
Lorain Landings Dev Co LLC
Grant Deed
—
May 27, 2016
—
Bennington Invs LLC
—
Deed
related
$1,130,000 · First Nat'l Bk/pa
Feb 24, 2011
—
Ontario Land Co
Ontario Land Co
Quit Claim Deed
related
—
Mar 21, 2005
—
Bennington Investments LLC
Oster Construction INC
Quit Claim Deed
related
—
—
—
Bennington Investments LLC
—
Deed Of Trust
related
$150,000 · Pnc Bank
—
—
Bennington Invs LLC
—
Deed Of Trust
related
$1,130,000 · First Nat'l Bk/pa
—
—
Bennington Investments LLC
—
Deed Of Trust
related
$1,562,500 · National City 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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