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Property profile & analytics
OFF-MARKET
Estimated value
$5,605,000
Parking lots & garages
1338 Columbia Rd Westlake, OH 44145-2413
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-5774418
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1900
Total area
1,920 SF
Lot
2.16 ac (94,089 SF)
Zoning code
AP
APN
213-21-021
UPID
US66-5774418
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
$5.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.61M
Owner & transaction history
Two Westlake LLC · 3 yrs held
Two Westlake LLC
since 2022
Last sale
$7.3M
7 recorded transactions
Zoning & alternative use
AP · Westlake, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Automobile Parking Districts and their regulations are established in order to promote the general convenience, welfare and prosperity of the community and to promote the most desirable use of land in accordance with a well-considered plan and to stabilize and enhance property values.
Zone name
Automobile Parking
General category
OPEN_SPACE
Zone area
37.16 ac
Source
Realmo
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 Westlake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westlake 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
$5,590,000
ML approach
$5,450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.61M
Range $5.04M – $6.17M · ±10% · vs last sale $7.30M (Sep 12 2022)
Last sale anchor
$7.30M
Sep 12 2022
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
$2,919 / 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
$9,138
Tax year 2023
Assessed value
$131,740
Assessed 2023
Previous assessed
$131,740
+0.0% YoY
Effective rate
6.94%
On assessed value
Assessed land
$131,740
Land market value
$376,400
Total market value
$376,400
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1900
Heating
FORCED AIR
Stories
2
Rooms
8
Bathrooms
1
Total area
1,920 SF
Lot
2.16 ac (94,089 SF)
Zoning code
AP
APN
213-21-021
UPID
US66-5774418
Jurisdiction
CUYAHOGA
Zoning & alternative use
AP · Westlake, OHZoning AP · permitted uses
AP · Westlake, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Automobile Parking Districts and their regulations are established in order to promote the general convenience, welfare and prosperity of the community and to promote the most desirable use of land in accordance with a well-considered plan and to stabilize and enhance property values.
Zone name
Automobile Parking
General category
OPEN_SPACE
Zone area
37.16 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1900
Heating
FORCED AIR
Stories
2
Rooms
8
Bathrooms
1
Lot
2.16 ac
Current owner
From public records · entity-resolved
Two Westlake LLC
Entity
Free & Clear · 3 yrs held
Mailing address
853 N ELSTON AVE, CHICAGO, IL 60642-4102
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2025
—
Two Westlake LLC
—
Deed
related
$7,500,000 · Velocity Commercial Capital LLC
Aug 9, 2023
—
Two Westlake LLC
—
Deed
related
$8,320,000 · Business Loan Capital INC
Sep 12, 2022
$7,300,000
Two Westlake LLC
Detroit Columbia Properties LLC
Limited Warranty Deed
—
Oct 2, 2007
$550,000
Detroit Columbia Props LLC
Sheriff Of Cuyahoga County
Trustees Deed
—
Nov 30, 2004
—
Ocpf 1 LLC
La Office Plaza LLC
Quit Claim Deed
related
—
May 31, 2000
$375,000
La Office Plaza LLC
Chillemi,chad & Patricia
Grant Deed
—
Sep 14, 1998
—
Ohio State
Chillemi,chad & Patricia
Grant 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.
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