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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    684 Center Rd Conneaut, OH 44030

    • Distribution centers
    • 2,699 SF
    • 4.59 lot acres
    For Sale
    View listing
    $395,000
    Last Sale
    Nov 07, 2023
    Value Estimations
    Cap Rate Potential
    4.4%
    Distribution centers
    Location Intelligence
    Property ID
    US66-1853576
    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

    • Space Place / Storage

    Property Details for 684 Center Rd

    Year built
    1864
    Lot size
    4.59 lot acres
    Property size
    2,699 SF
    Property type
    Distribution centers
    APN
    12-316-00-017-00
    APU
    123160001700

    Description

    This exceptional commercial opportunity encompasses a substantial 70+ unit storage facility, a residential home, and a barn, all situated on a generous 4.59-acre lot. The property boasts excellent visibility due to its strategic location along Route 7, conveniently close to the I-90 exit ramp, ensuring high traffic exposure and accessibility. The storage facility itself offers a diverse range of units, catering to various storage needs, including ample space for boats and RVs. The existing residential home presents a unique opportunity for renovation or redevelopment. While the home requires some upgrades to the septic system before occupancy, a new septic tank is already installed, simplifying the necessary improvements. The accompanying barn provides additional storage or potential for versatile use. This multifaceted property presents a rare combination of commercial income potential and residential possibilities, making it an attractive investment for a discerning buyer seeking a unique and well-positioned asset in a desirable location. The property's size and location offer significant potential for expansion or further development, capitalizing on the high demand for storage solutions and residential properties in the area. The combination of commercial and residential components provides a diversified investment opportunity with multiple revenue streams. This is a truly unique opportunity not to be missed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $190,000
      6.5%
      $175,000
      7%
      $160,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $213,000
      Market price range: $38.2k - $214k
      AI Estimate
      $224,000
      Market price range: $60.9k - $224k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $165,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Conneaut
    County
    Ashtabula
    State
    Ohio
    Longitude
    -80.5705
    Latitude
    41.919
    CBSA code
    11780
    CBSA name
    ASHTABULA, OH MICROPOLITAN 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
    $4,461
    $11,480
    $69,690
    $81,170
    -
    $32,800
    $199,100
    $231,900

    Comparable in this City

    • Value Estimation
      $195,000
      2.61 Acres

      3208 Ctr St

      DISTRIBUTION WAREHOUSE • 2.61 Acres
      3208 Ctr St, Conneaut, OH 44030-3345
      View Details
    • Value Estimation
      $190,000
      0.04 Acres

      Ml St

      DISTRIBUTION WAREHOUSE • 0.04 Acres
      Ml St, Conneaut, OH 44030
      View Details
    • Value Estimation by Request
      3.00 Acres

      Hewitt Ln

      DISTRIBUTION WAREHOUSE • 3.00 Acres
      Hewitt Ln, Conneaut, OH 44030
      View Details
    • Value Estimation
      $210,000
      0.07 Acres

      Hbr St

      DISTRIBUTION WAREHOUSE • 0.07 Acres
      Hbr St, Conneaut, OH 44030
      View Details
    • Value Estimation
      $215,000
      3,600 SF

      Whitney Rd

      DISTRIBUTION WAREHOUSE • 3,600 SF
      Whitney Rd, Conneaut, OH 44030
      View Details
    • Value Estimation
      $185,000
      0.12 Acres

      Bliss Ave

      DISTRIBUTION WAREHOUSE • 0.12 Acres
      Bliss Ave, Conneaut, OH 44030
      View Details

    Similar Nearby for Sale

    • $550,000
      1.68 Acres

      Conneaut Industrial Space For Sale

      Industrial space with loading docks, overhead doors, and heavy power.
      500 Madison St, Conneaut, OH 44030
      View Details
    • $120,000
      0.47 Acres

      Conneaut Industrial Building & Lot

      Prime Industrial Property, Railroad Access
      Nickle Plate Ave, Conneaut, OH 44030
      View Details
    • $395,000
      4.59 Acres

      Conneaut Commercial Property & Home

      Prime location, storage facility, home, & barn.
      684 Center Rd, Conneaut, OH 44030
      View Details
    • Contact for pricing
      0.94 Acres

      Buildable Lot Near Lake Erie

      Buildable lot near Lake Erie in Conneaut, Ohio.
      18 Hillcrest Ct, Conneaut, OH 44030
      View Details
    • Contact for pricing
      13.49 Acres

      Conneaut, OH Commercial Land

      13.49 Acres, Highway Frontage, Ready to Develop
      I-90 And Sr 7, Conneaut, OH 44030
      View Details
    • $130,000
      6,270 SF

      Downtown Conneaut Commercial Building

      Spacious 6,270 sq ft commercial space.
      191 Main St, Conneaut, OH 44030
      View Details

    Similar Nearby for Lease

    • $1,000 /Mo
      4,792 SF

      Conneaut Office Space For Rent

      Office space available in Conneaut, OH.
      171 Broad St, Conneaut, OH 44030
      View Details
    • $995 /Mo
      436 SF

      Retail Office Space Available

      Retail and office space for lease on Main St.
      216 Main St, Conneaut, OH 44030
      View Details
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    684 Center Rd
    Conneaut, OH 44030
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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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