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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Manufacturing properties
1366 117th St Lakewood, OH 44107-3011
Entity Owned
7-yr Hold
Free & Clear
Property ID
US66-1269055
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1930
Total area
14,400 SF
Lot
0.43 ac (18,818 SF)
Zoning code
C3
APN
312-33-024
UPID
US66-1269055
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
$910k
Comparable Approach
Comparable
$671k
Blend (final)
Blend
$815k
Owner & transaction history
1366 Building LLC · 7 yrs held
1366 Building LLC
since 2019
3 recorded transactions
Zoning & alternative use
C3 · Lakewood, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
TheC3 General Business Districtis established to provide for commercial uses that generally require independent, freestanding buildings, larger parking areas, and may have unique traffic patterns because of such factors as drive-in facilities
Zone name
Commercial General Business
General category
COMMERCIAL
Zone area
151.68 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.3M
+106.3%
Apartment house (5+ units)
$1.2M
+95.5%
Commercial (general)
$1.2M
+92.2%
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%
$985,000
6.5%
$910,000
7%
$845,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$620,000
Current use
AUTO REPAIR, GARAGE
$1,280,000
Change: +106% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,215,000
Change: +96% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,195,000
Change: +92% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±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
$57 / 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
$16,474
Tax year 2023
Assessed value
$152,110
Assessed 2023
Previous assessed
$152,110
+0.0% YoY
Effective rate
10.83%
On assessed value
Assessed land
$43,470
Assessed improvement
$108,640
Land market value
$124,200
Improvement market value
$310,400
Total market value
$434,600
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1930
Heating
HOT WATER
Cooling
YES
Buildings
2
Stories
1
Total area
14,400 SF
Lot
0.43 ac (18,818 SF)
Zoning code
C3
APN
312-33-024
UPID
US66-1269055
Jurisdiction
CUYAHOGA
Zoning & alternative use
C3 · Lakewood, OHZoning C3 · permitted uses
C3 · Lakewood, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
TheC3 General Business Districtis established to provide for commercial uses that generally require independent, freestanding buildings, larger parking areas, and may have unique traffic patterns because of such factors as drive-in facilities
Zone name
Commercial General Business
General category
COMMERCIAL
Zone area
151.68 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$620,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1930
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
1366 Building LLC
Entity
Free & Clear · 7 yrs held
Mailing address
28838 LK RD, BAY VILLAGE, OH 44140-1311
Ownership since
2019
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
Mar 28, 2019
—
1366 Building LLC
John E Norton Rev L Trust
Quit Claim Deed
related
—
Aug 24, 2018
—
Norton,john E Living Trust
Norton,jack E & Karen R
Quit Claim Deed
related
—
—
—
Jack E Norton
—
Deed Of Trust
related
$525,000 · Bank One NA
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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