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    Property profile & analytics

    661 Riv St Ste A Elyria, OH 44035-5948

    • Medical offices
    • 2,310 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1802511
    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

    • Dr. Ashok Ramadugu, MD / Pulmonologist
    • Chest Physicians / Pulmonologist / Medical Clinic

    Property Details for 661 Riv St Ste A

    Year built
    1937
    Lot size
    0.18 lot acres
    Property size
    2,310 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    06-25-108-000-010
    APU
    625108000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $465,000
      6.5%
      $430,000
      7%
      $400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $339,000
      Market price range: $114k - $344k
      AI Estimate
      $257,000
      Market price range: $101k - $257k

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

    Location Insight

    • Map
    • Local Demand
    City
    Elyria
    County
    Lorain
    State
    Ohio
    Longitude
    -82.099
    Latitude
    41.3659
    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
    $9,901
    $13,374
    $122,812
    $136,186
    -
    $38,210
    $350,890
    $389,100

    Comparable in this City

    • Value Estimation
      $600,000
      29,656 SF

      41201 Schadden Rd

      MEDICAL BUILDING • 29,656 SF
      41201 Schadden Rd, Elyria, OH 44035-2249
      View Details
    • Value Estimation
      $245,000
      1,156 SF

      133 Winckles St

      MEDICAL BUILDING • 1,156 SF
      133 Winckles St, Elyria, OH 44035
      View Details
    • Value Estimation
      $255,000
      5,749 SF

      10735 Lagrange Rd

      MEDICAL BUILDING • 5,749 SF
      10735 Lagrange Rd, Elyria, OH 44035-7707
      View Details
    • Value Estimation
      $155,000
      9,109 SF

      801 Middle Ave

      MEDICAL BUILDING • 9,109 SF
      801 Middle Ave, Elyria, OH 44035-5805
      View Details
    • Value Estimation
      $350,000
      8,328 SF

      42707 Rdg Rd

      MEDICAL BUILDING • 8,328 SF
      42707 Rdg Rd, Elyria, OH 44035-1054
      View Details
    • Value Estimation
      $325,000
      8,300 SF

      459 Griswold Rd

      MEDICAL BUILDING • 8,300 SF
      459 Griswold Rd, Elyria, OH 44035-2304
      View Details

    Similar Nearby for Sale

    • $450,000
      3,760 SF

      Elyria Medical Office - For Sale/Lease

      3,760 SF Freestanding Medical Building in Ohio
      252 Broad St, Elyria, OH 44035
      View Details
    • $295,000
      5,420 SF

      Riverview Medical Office Building

      Prime Elyria medical office, 5,420 SF.
      0 River Rd, Elyria, OH 44035
      View Details
    • $450,000
      3,760 SF

      Freestanding Medical Office Building

      Turn-key medical office near University Hospital with ample parking.
      252 E Broad St, Elyria, OH 44035
      View Details
    • $285,000
      0.06 Acres

      Professional Office Condo For Sale

      2400 sq ft office condo in prime Lorain County location.
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    • $295,000
      5,420 SF

      Medical Office Building Near UH

      Two-story, 5,420 SF medical office building for sale.
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    • $1,100,000
      38,531 SF

      Elyria Office Building For Sale

      Office building with high traffic and downtown proximity.
      620 E River St, Elyria, OH 44035
      View Details

    Similar Nearby for Lease

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      33,282 SF

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    • $12 SF/Yr
      4,600 SF

      Elyria Commercial Space Available

      Flexible Office Space, Prime Location
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    • $2,500 /Mo
      Pending

      Elyria Commercial Space For Lease

      Commercial space in Elyria featuring offices, kitchen, and storage.
      418 E Broad St, Elyria, OH 44035
      View Details
    • Contact for pricing
      3,736 SF

      Stand Alone Bank Building

      Well-kept building suitable for office or medical use.
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      View Details
    • Contact for pricing
      30,000 SF

      New Medical Space For Lease

      30,000 SF medical space available Summer 2026 in Elyria, OH.
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    • $2,500 /Mo
      2,178 SF

      Professional Office Condo For Lease

      2400 sq ft office condo in prime Lorain County.
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      View Details
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    661 Riv St Ste A
    Elyria, OH 44035-5948
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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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