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    Property profile & analytics

    7420 Fairmount Rd Novelty, OH 44072-9761

    • Commercial real estate
    • 11,461 SF
    • 72.27 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Dec 10, 2021
    Location Intelligence
    Property ID
    US66-1967011
    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

    • Commercial real estate

    Property Details for 7420 Fairmount Rd

    Year built
    2009
    Lot size
    72.27 lot acres
    Property size
    11,461 SF
    Property type
    Commercial real estate
    APN
    26-707034
    APU
    26707034

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Novelty
    County
    Geauga
    State
    Ohio
    Longitude
    -81.3742
    Latitude
    41.497
    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
    $8,595
    $1,436,580
    $1,113,180
    $2,549,760
    -
    $4,104,500
    $3,180,500
    $7,285,000

    Comparable in this City

    • Value Estimation by Request
      6.00 Acres

      Pekin Rd

      COMMERCIAL (GENERAL) • 6.00 Acres
      Pekin Rd, Novelty, OH 44072
      View Details
    • Value Estimation by Request
      3.40 Acres

      Beechwood Dr

      COMMERCIAL (GENERAL) • 3.40 Acres
      Beechwood Dr, Novelty, OH 44072
      View Details
    • Value Estimation by Request
      0.53 Acres

      9045 Pekin Rd

      COMMERCIAL (GENERAL) • 0.53 Acres
      9045 Pekin Rd, Novelty, OH 44072
      View Details
    • Value Estimation
      $270,000
      4,800 SF

      Kinsman Rd

      COMMERCIAL (GENERAL) • 4,800 SF
      Kinsman Rd, Novelty, OH 44072
      View Details
    • Value Estimation
      $340,000
      5,619 SF

      8251 Kinsman Rd

      COMMERCIAL (GENERAL) • 5,619 SF
      8251 Kinsman Rd, Novelty, OH 44072
      View Details
    • Value Estimation
      $435,000
      6,835 SF

      14820 Chillicothe Rd

      COMMERCIAL (GENERAL) • 6,835 SF
      14820 Chillicothe Rd, Novelty, OH 44072-9647
      View Details

    Similar Nearby for Sale

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      Pending

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      4+ acre wooded parcel in desirable West Geauga School District.
      14393 Chillicothe Rd, Novelty, OH 44072
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    • $3,792,740
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      Geauga County Multi-Parcel Estate

      175+ acres featuring vacant land and income-producing homes.
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    • $3,200,000
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      Multi-Tenant Industrial Center on 19+ Acres

      113,920 SF multi-tenant industrial center with 12 tenants.
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      View Details
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    7420 Fairmount Rd
    Novelty, OH 44072-9761
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    Realmo Value Estimation

    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.

    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.

    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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