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Property profile & analytics
OFF-MARKET
Warehouses
16602 Madison Ave Lakewood, OH 44107-5465
Entity Owned
8-yr Hold
Free & Clear
Property ID
US66-1751875
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1916
Construction
WOOD
Total area
4,836 SF
Lot
0.14 ac (6,302 SF)
Zoning code
C1
APN
313-24-034
UPID
US66-1751875
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
16602 Madison LLC · 8 yrs held
16602 Madison LLC
since 2018
4 recorded transactions
Zoning & alternative use
C1 · Lakewood, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
TheC1 Office Districthas a limited application within the Central Business District of theCity. This district seeks to preserve and protect the general character of the area and to allow for expansion around the core as dictated by market conditions.
Zone name
Commercial Office
General category
COMMERCIAL
Zone area
36.69 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$9,041
Tax year 2023
Assessed value
$83,480
Assessed 2023
Previous assessed
$83,480
+0.0% YoY
Effective rate
10.83%
On assessed value
Assessed land
$14,560
Assessed improvement
$68,920
Land market value
$41,600
Improvement market value
$196,900
Total market value
$238,500
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1916
Construction
WOOD
Heating
HOT WATER
Cooling
NONE
Stories
2
Units
4
Total area
4,836 SF
Lot
0.14 ac (6,302 SF)
Zoning code
C1
APN
313-24-034
UPID
US66-1751875
Jurisdiction
CUYAHOGA
Zoning & alternative use
C1 · Lakewood, OHZoning C1 · permitted uses
C1 · Lakewood, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
TheC1 Office Districthas a limited application within the Central Business District of theCity. This district seeks to preserve and protect the general character of the area and to allow for expansion around the core as dictated by market conditions.
Zone name
Commercial Office
General category
COMMERCIAL
Zone area
36.69 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1916
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
2
Units
4
Lot
0.14 ac
Current owner
From public records · entity-resolved
16602 Madison LLC
Entity
Free & Clear · 8 yrs held
Mailing address
16602 MADISON AVE, LAKEWOOD, OH 44107-5465
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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 21, 2024
—
Madison LLC
—
Deed
related
$119,000 · Cnb Bank
Feb 21, 2018
—
16602 Madison LLC
Verba,betty
Grant Deed
related
—
May 15, 2014
$178,000
16602 Madison LLC
Verba,betty L
Warranty Deed
$161,000 · Huntington Nat'l Bk
—
—
16602 Madison LLC
—
Deed Of Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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