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Property profile & analytics
OFF-MARKET
Investment properties
7333 Lk Ave Elyria, OH 44035-2567
Entity Owned
2-yr Hold
Free & Clear
Property ID
US66-2265076
Property summary
AI-generated overview
This exceptional Elyria, OH property offers a lucrative investment opportunity with a blend of commercial and residential spaces. The 3,657 square foot building sits on a 0.15-acre lot and includes two storefronts, currently rented on month-to-month leases at $400 and $250 respectively, ideal for retail or office use. Four residential units, comprising two 2-bedroom and two 1-bedroom apartments, offer additional income streams
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1953
Construction
FRAME
Total area
3,657 SF
Lot
0.15 ac (6,534 SF)
APN
06-24-036-106-012
UPID
US66-2265076
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
-
Empirical Computers Computer & Electronic Repair
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Varndell Property Management LLC · 2 yrs held
Varndell Property Management LLC
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Elyria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elyria 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,791
Tax year 2023
Assessed value
$58,731
Assessed 2023
Previous assessed
$58,740
0.0% YoY
Effective rate
8.16%
On assessed value
Assessed land
$4,575
Assessed improvement
$54,156
Land market value
$13,070
Improvement market value
$154,730
Total market value
$167,800
Applied tax rate
31.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1953
Construction
FRAME
Heating
BASEBOARD
Cooling
CENTRAL
Stories
1
Rooms
6
Bathrooms
4
Total area
3,657 SF
Lot
0.15 ac (6,534 SF)
APN
06-24-036-106-012
UPID
US66-2265076
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
Building & site characteristics
From public records
Year built
1953
Construction
FRAME
Heating
BASEBOARD
Cooling
Yes
Stories
1
Rooms
6
Bathrooms
4
Lot
0.15 ac
Current owner
From public records · entity-resolved
Varndell Property Management LLC
Entity
Free & Clear · 2 yrs held
Mailing address
30150 SAINT IVES, WESTLAKE, OH 44145-3790
Ownership since
2023
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 26, 2023
—
Varndell Property Management LLC
Varndell Storage LLC
Quit Claim Deed
related
—
Jul 14, 2023
—
Paul J Schmidt JR
Shelley L Merkin
Fiduciary Deed
—
Nov 20, 2019
—
R & B LLC
Varndell Storage LLC
Quit Claim Deed
related
—
Mar 7, 2019
—
Varndell Storage LLC
Varndell,chris
Quit Claim Deed
related
—
Jan 16, 2019
—
Chris Varndell
M Lou LLC
Warranty Deed
related
—
Dec 28, 2012
—
M Lou LLC
Yost Mary L Trust
Quit Claim Deed
related
—
Jun 17, 2009
—
Varndell Mary L Trust
Yost Mary L Trust
Grant Deed
related
—
Mar 28, 2006
—
Yost Mary L Trust
Yost Mary L Trust
Quit Claim Deed
related
—
Nov 3, 2005
—
Yost Mary L Trust
Yost,mary L
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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