Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    721 Lowell St Elyria, OH 44035-4842

    • Individual retail properties
    • 2,688 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1785323
    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

    • Coffee Shop Cafe / Cafe & Coffee Shop
    • Quick-N-EZ Coin Laundry / (Bike/Boat/Book/etc) Store

    Property Details for 721 Lowell St

    Year built
    1965
    Lot size
    0.34 lot acres
    Property size
    2,688 SF
    Property type
    Individual retail properties
    APN
    06-24-026-116-055
    APU
    624026116055

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elyria
    County
    Lorain
    State
    Ohio
    Longitude
    -82.1291
    Latitude
    41.3754
    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
    $2,754
    $10,367
    $27,514
    $37,881
    -
    $29,620
    $78,610
    $108,230

    Comparable in this City

    • Value Estimation by Request
      1,800 SF

      110 Olive St

      DRY CLEANER • 1,800 SF
      110 Olive St, Elyria, OH 44035-4016
      View Details
    • Value Estimation
      $2,150,000
      79,579 SF

      853 Cleveland St

      APPLIANCE STORE • 79,579 SF
      853 Cleveland St, Elyria, OH 44035-4107
      View Details
    • Value Estimation
      $1,540,000
      12,493 SF

      443 Cleveland St

      APPLIANCE STORE • 12,493 SF
      443 Cleveland St, Elyria, OH 44035-4062
      View Details
    • Value Estimation
      $1,675,000
      19,984 SF

      5081 Abbe Rd

      APPLIANCE STORE • 19,984 SF
      5081 Abbe Rd, Sheffield Village, OH 44035-1455
      View Details
    • Value Estimation by Request
      4,156 SF

      620 Lk Ave

      DRY CLEANER • 4,156 SF
      620 Lk Ave, Elyria, OH 44035-3542
      View Details
    • Value Estimation
      $2,760,000
      103,482 SF

      3000 Midway Mall

      APPLIANCE STORE • 103,482 SF
      3000 Midway Mall, Elyria, OH 44035-2460
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,608 SF

      Versatile Commercial Space For Rent

      2,000 SF commercial space in high-traffic area.
      614-616 Prospect St, Elyria, OH 44035
      View Details
    • $195,000
      5,584 SF

      Former Church and Retail Buildings

      Two buildings in high-visibility area, priced to sell.
      1611-1621 Middle Ave, Elyria, OH 44035
      View Details
    • $199,900
      0.26 Acres

      Mixed-Use Property in High-Traffic Location

      Mixed-use property with retail/office space and residential apartment.
      436 Cleveland St, Elyria, OH 44035
      View Details
    • $1,454,991
      6,600 SF

      Elyria Retail Investment Opportunity

      NNN leased retail property with attractive rental escalations for sale.
      914 Cleveland St, Elyria, OH 44035
      View Details
    • Contact for pricing
      15,659 SF

      Retail Opportunity Near Rural King

      Retail space available near Rural King and major roadways.
      426 Oberlin Rd, Elyria, OH 44035
      View Details
    • Contact for pricing
      4,914 SF

      Sheffield Village Restaurant Opportunity

      Freestanding 4,914 SF restaurant on 1.44 AC lot.
      5274 Abbe Rd N, Elyria, OH 44035
      View Details

    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.
      464-500 N Abbe Rd, Elyria, OH 44035
      View Details
    • Contact for pricing
      60,732 SF

      Elyria Warehouse with Office Space

      60,732 SF warehouse with 5,000 SF office space.
      823 Leona St, Elyria, OH 44035
      View Details
    • Contact for pricing
      25,954 SF

      Elyria Retail Space For Lease

      25,594 SF retail space in dominant shopping center.
      360 Market Dr, Elyria, OH 44035
      View Details
    • Contact for pricing
      31,902 SF

      Elyria Retail Space Available

      Retail space with high visibility near major retailers.
      2650 Midway Mall, Elyria, OH 44035
      View Details
    • Contact for pricing
      2,270 SF

      Retail Space Midway Mall

      Retail space available in Midway Mall, Elyria, OH.
      6355 Midway Mall, Elyria, OH 44035
      View Details
    • Contact for pricing
      31,080 SF

      Retail Space Near I-90

      Retail space with high visibility and multiple anchor tenants.
      5244 Cobblestone Rd, Sheffield Village, OH 44035
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    721 Lowell St
    Elyria, OH 44035-4842
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!