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Property profile & analytics
OFF-MARKET
Estimated value
$6,505,000
Warehouses
18601 Cleveland Pkwy Dr Cleveland, OH 44135-3231
Entity Owned
5-yr Hold
Free & Clear
Property ID
US66-1369143
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
TYPE NOT SPECIFIED
Total area
99,535 SF
Lot
5.66 ac (246,500 SF)
Zoning code
SI
APN
029-18-050
UPID
US66-1369143
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
Current use
Occupant on record · Public records
-
Constant Aviation Corporate Office Factory
-
Hertz Car Rental Car Rental Facility
-
Nextant Aerospace Corporate Office Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.64M
Comparable Approach
Comparable
$5.67M
Blend (final)
Blend
$6.51M
Owner & transaction history
City Of Cleveland · 5 yrs held
City Of Cleveland
since 2021
2 recorded transactions
Zoning & alternative use
SI · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$10.8M
+112.2%
Neighborhood: shopping center
$10.1M
+97.8%
Auto repair, garage
$8.9M
+73.7%
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 Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland 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%
$8,275,000
6.5%
$7,640,000
7%
$7,095,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,095,000
Current use
MEDICAL BUILDING
$10,815,000
Change: +112% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$10,085,000
Change: +98% · Conversion: Moderate
AUTO REPAIR, GARAGE
$8,855,000
Change: +74% · Conversion: Easy
COMMERCIAL (GENERAL)
$8,250,000
Change: +62% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,365,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$6.51M
Range $5.85M – $7.16M · ±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
$65 / 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
$161,098
Tax year 2023
Assessed value
$1,613,050
Assessed 2023
Previous assessed
$1,613,050
+0.0% YoY
Effective rate
9.99%
On assessed value
Assessed land
$140,460
Assessed improvement
$1,472,590
Land market value
$401,300
Improvement market value
$4,207,400
Total market value
$4,608,700
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
2000
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Rooms
5
Bathrooms
1
Total area
99,535 SF
Lot
5.66 ac (246,500 SF)
Zoning code
SI
APN
029-18-050
UPID
US66-1369143
Jurisdiction
CUYAHOGA
Zoning & alternative use
SI · Cleveland, OH
Zoning SI · permitted uses
SI · Cleveland, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$10.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.1M
AUTO REPAIR, GARAGE
Est. value
$8.9M
COMMERCIAL (GENERAL)
Est. value
$8.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.4M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
2000
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
1
Lot
5.66 ac
Current owner
From public records · entity-resolved
City Of Cleveland
Entity
Free & Clear · 5 yrs held
Mailing address
31000 AURORA RD, SOLON, OH 44139-2769
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2021
—
City Of Cleveland
Cleveland Business Park Ltd
Limited Warranty Deed
—
Apr 26, 2000
—
Cleveland Business Park Ltd
Cleveland City (oh)
Quit Claim Deed
related
$460,000 · Huntington National Bank
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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