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Property profile & analytics
FOR LEASE
Automotive properties
823 Leona St Elyria, OH 44035
Entity Owned
2-yr Hold
Free & Clear
Property ID
US66-1964313
For Lease
1 / 2
$6.95 SF/Yr
823 Leona St, Elyria, OH 44035
View Listing →
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1987
Total area
105,718 SF
Lot
5.11 ac (222,592 SF)
APN
06-23-014-000-033
UPID
US66-1964313
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.81M
Blend (final)
Blend
$7.72M
Owner & transaction history
Elyria Industrial 1 LLC · 2 yrs held
Elyria Industrial 1 LLC
since 2023
Last sale
$7.4M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.6M
+32.9%
Medical building
$9.8M
+13.2%
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
Method
Estimation
Statistic approach
$7,995,000
ML approach
$8,545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$8,700,000
Current use
RESTAURANT
$11,560,000
Change: +33% · Conversion: Difficult
MEDICAL BUILDING
$9,845,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$8,585,000
Change: -1% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,155,000
Change: -6% · Conversion: Difficult
WAREHOUSE, STORAGE
$7,685,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$7.72M
Range $6.94M – $8.49M · ±10% · vs last sale $7.40M (Oct 17 2023)
Last sale anchor
$7.40M
Oct 17 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$73 / SF
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
$108,344
Tax year 2023
Assessed value
$1,490,245
Assessed 2023
Previous assessed
$1,490,250
0.0% YoY
Effective rate
7.27%
On assessed value
Assessed land
$98,368
Assessed improvement
$1,391,877
Land market value
$281,050
Improvement market value
$3,976,790
Total market value
$4,257,840
Applied tax rate
33.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
For Lease
Year built
1987
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
105,718 SF
Lot
5.11 ac (222,592 SF)
APN
06-23-014-000-033
UPID
US66-1964313
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
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$8.7M
RESTAURANT
Est. value
$11.6M
MEDICAL BUILDING
Est. value
$9.8M
OFFICE BUILDING
Est. value
$8.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.2M
WAREHOUSE, STORAGE
Est. value
$7.7M
AUTO REPAIR, GARAGE Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
5.11 ac
Current owner
From public records · entity-resolved
Elyria Industrial 1 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
227 W MONROE ST, CHICAGO, IL 60606-5001
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2023
$32,400,000
Elyria Industrial 1 LLC
Mb2 LLC
Limited Warranty Deed
—
Oct 17, 2023
—
Elyria Industrial 1 LLC
Mb2 LLC
Assignment Of Lease (leasehold Sale)
$4,700,000 · Wintrust Bank NA
Feb 10, 2004
—
Mb2 LLC
—
Deed Of Trust
related
$1,000,000 · Buckeye Community Bank
—
—
Mb2 LLC
—
Deed Of Trust
related
$4,000,000 · Buckeye Community Bank
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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