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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Commercial land
1350 Sloane Ave 54 Lakewood, OH 44107-3127
Individually Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-1233579
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1908
Total area
3,936 SF
Lot
1.56 ac (68,136 SF)
Zoning code
MH
APN
311-14-029
UPID
US66-1233579
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
$510k
Comparable Approach
Comparable
$651k
Blend (final)
Blend
$610k
Owner & transaction history
Richard W Krumreig · 21 yrs held
Richard W Krumreig
since 2005
3 recorded transactions
Zoning & alternative use
MH · Lakewood, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$635,000
+95.2%
Medical building
$430,000
+31.1%
Neighborhood: shopping center
$400,000
+22.2%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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%
$555,000
6.5%
$510,000
7%
$475,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$635,000
Change: +95% · Conversion: Easy
MEDICAL BUILDING
$430,000
Change: +31% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$400,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$155 / 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
$7,022
Tax year 2023
Assessed value
$62,970
Assessed 2023
Previous assessed
$62,970
+0.0% YoY
Effective rate
11.15%
On assessed value
Assessed land
$62,970
Land market value
$179,900
Total market value
$179,900
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1908
Heating
HOT WATER
Stories
2
Rooms
14
Bathrooms
4
Total area
3,936 SF
Lot
1.56 ac (68,136 SF)
Zoning code
MH
APN
311-14-029
UPID
US66-1233579
Jurisdiction
CUYAHOGA
Zoning & alternative use
MH · Lakewood, OH
Zoning MH · permitted uses
MH · Lakewood, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakewood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$635,000
MEDICAL BUILDING
Est. value
$430,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$400,000
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1908
Heating
HOT WATER
Stories
2
Rooms
14
Bathrooms
4
Lot
1.56 ac
Current owner
From public records · entity-resolved
Richard W Krumreig
Individual
Free & Clear · 21 yrs held
Mailing address
8022 SANDSTONE DR, SAGAMORE HILLS, OH 44067-1772
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2005
—
Richard W Krumreig
Bark,mary L
Quit Claim Deed
related
—
—
—
Foran Montlack Dev LLC
—
Deed Of Trust
related
$227,071 · Park View Fsb
—
—
William F Krumreig
—
Deed Of Trust
related
$60,000 · American Business Credit
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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