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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Garden apartment buildings
903 Magnolia Dr, Wapakoneta, OH 45895-1000
Entity Owned
3-yr Hold
Free & Clear
Property ID
US66-1753371
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1978
Total area
7,546 SF
Lot
2.23 ac (96,965 SF)
APN
B07-826-061-00
UPID
US66-1753371
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
by Request
CAP Approach
CAP
$695k
Comparable Approach
Comparable
$752k
Blend (final)
Blend
$695k
Owner & transaction history
City Of Wapakoneta · 3 yrs held
City Of Wapakoneta
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$595,000
+24.6%
Office building
$560,000
+17.6%
Commercial (general)
$530,000
+11.4%
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 Wapakoneta submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wapakoneta 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$755,000
6.5%
$695,000
7%
$650,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$475,000
Current use
RESTAURANT
$595,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$560,000
Change: +18% · Conversion: Moderate
COMMERCIAL (GENERAL)
$530,000
Change: +11% · Conversion: Moderate
RETAIL STORES
$455,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$695k
Range $626k – $765k · ±10%
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
$92 / 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
$17,463
Tax year 2023
Assessed value
$422,330
Assessed 2023
Previous assessed
$422,330
+0.0% YoY
Effective rate
4.13%
On assessed value
Assessed land
$54,900
Assessed improvement
$367,430
Land market value
$156,870
Improvement market value
$1,049,810
Total market value
$1,206,680
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
2
Units
8
Bathrooms
2
Total area
7,546 SF
Lot
2.23 ac (96,965 SF)
APN
B07-826-061-00
UPID
US66-1753371
Jurisdiction
AUGLAIZE
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$475,000
RESTAURANT
Est. value
$595,000
OFFICE BUILDING
Est. value
$560,000
COMMERCIAL (GENERAL)
Est. value
$530,000
RETAIL STORES
Est. value
$455,000
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1978
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Units
8
Bathrooms
2
Lot
2.23 ac
Current owner
From public records · entity-resolved
City Of Wapakoneta
Entity
Free & Clear · 3 yrs held
Mailing address
404 HAMILTON RD STE #2, WAPAKONETA, OH 45895-1156
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2023
—
City Of Wapakoneta
David P Schlenker
Warranty Deed
—
Jun 16, 2020
—
David P Schlenker
—
Deed
related
$1,920,000 · First National Bank Of New Bremen
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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