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Property profile & analytics
FOR SALE
Warehouses
16651 Sprague Rd, Strongsville, OH 44136
Entity Owned
3-yr Hold
Free & Clear
Property ID
US66-0169316
For Sale
1 / 4
$2,025,000
16651 Sprague Rd, Strongsville, OH 44136
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1968
Construction
TYPE NOT SPECIFIED
Total area
38,702 SF
Lot
15.51 ac (675,467 SF)
Zoning code
RD
APN
395-09-002
UPID
US66-0169316
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
$1.99M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.53M
Blend (final)
Blend
$2.03M
Owner & transaction history
Strong Property Ventures LLC · 3 yrs held
Strong Property Ventures LLC
since 2022
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
RD · Strongsville, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.2M
+61.8%
Apartment house (5+ units)
$2.9M
+44.5%
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 Strongsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Strongsville 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
$1,515,000
ML approach
$1,985,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,980,000
Current use
COMMERCIAL (GENERAL)
$3,205,000
Change: +62% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,865,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.82M – $2.23M · ±10% · vs last sale $1.76M (Feb 4 2021)
Last sale anchor
$1.76M
Feb 4 2021
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
$52 / 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
$50,296
Tax year 2023
Assessed value
$615,580
Assessed 2023
Previous assessed
$615,580
+0.0% YoY
Effective rate
8.17%
On assessed value
Assessed land
$375,970
Assessed improvement
$239,610
Land market value
$1,074,200
Improvement market value
$684,600
Total market value
$1,758,800
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
For Sale
Year built
1968
Construction
TYPE NOT SPECIFIED
Heating
HOT WATER
Cooling
CENTRAL
Buildings
5
Stories
3
Total area
38,702 SF
Lot
15.51 ac (675,467 SF)
Zoning code
RD
APN
395-09-002
UPID
US66-0169316
Jurisdiction
CUYAHOGA
Zoning & alternative use
RD · Strongsville, OH
Zoning RD · permitted uses
RD · Strongsville, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Strongsville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1968
Construction
TYPE NOT SPECIFIED
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
5
Lot
15.51 ac
Current owner
From public records · entity-resolved
Strong Property Ventures LLC
Entity
Free & Clear · 3 yrs held
Mailing address
16000 COMMERCE PARK DR, BROOK PARK, OH 44142-2023
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
Nov 15, 2022
$1,956,150
Strong Property Ventures LLC
Akzo Nobel Coatings INC
Deed
—
Aug 25, 2021
—
Akzo Nobel Coatings INC
Ppg Architectural Finishes INC
Quitclaim Deed
related
—
Feb 4, 2021
$1,758,750
Strong Property Ventures LLC
Cd 2005 Cdi West Sprague Road LLC
Limited Warranty Deed
—
Mar 12, 2020
$3,266,667
Cd 2005-cd1 W Sprague Road LLC
Sheriff Of Cuyahoga County|ohio Cmrc Ctr Acquisiti
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
—
Jun 8, 2005
$28,960,000
Ohio Commerce Ctr Acquisitions
Ohio Research Park LLC
Grant Deed
related
$19,950,000 · Citigroup Global Markets Realt
Jun 8, 2005
$27,424
Ohio Commerce Ctr Invtrs LLC
Ohio Commerce Ctr Acquisitions
Grant Deed
related
—
Dec 30, 1999
$140,000
Ohio Research Park LLC
Glidden Co
Grant Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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