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    19388 Progress Dr Strongsville, OH 44149-3232
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    Property profile & analytics

    19388 Progress Dr, Strongsville, OH 44149-3232

    View on Map
    • Warehouses
    • 23,552 SF
    • 2.00 lot acres
    Off-Market
    Last Sale May 3, 2022
    $2,350,000
    Property ID
    US66-3820362
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,790,000
    Show details
    Cap Rate Potential
    6.1%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 19388 Progress Dr

    Year built
    2014
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.00 lot acres
    Zone code
    CS
    Property type
    Warehouses
    APN
    392-26-010
    APU
    39226010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 3, 2022 $2,350,000 Rumaani Holdings LLC V F Partners Progress LLC Warranty Deed $1.8M · Us Bank NA
    May 3, 2022 — Nst Northwest LLC V F Partners Progress LLC Lease —
    Aug 28, 2019 — Vf Partners Progress LLC — Deed · related $25k · Michelle Galaida
    Apr 9, 2014 — Vf Partners Progress LLC Vf Partners Ltd Quit Claim Deed · related $1.4M · Huntington Nat'l Bk
    Jan 23, 2013 $68,000 V F Partners Ltd Sheriff Of Cuyahoga County Trustees Deed —
    Nov 10, 2005 — Progress Of Strongsville LLC — Trustees Deed · related $516k · Firstmerit Bank NA
    — — Vf Partners Progress LLC — Deed Of Trust · related $518k · Walter S & Leslie Rapacz
    — — Vf Partners Progress LLC — Deed Of Trust · related $25k · Michelle Galaida

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,910,000
      ML approach
      $1,970,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,960,000
      6.5%
      $1,810,000
      7%
      $1,680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,079,000
      Market price range: $586k - $2.02M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,205,000
      Current use
      MEDICAL BUILDING
      $2,560,000
      Change: +112% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,385,000
      Change: +98% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,095,000
      Change: +74% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,950,000
      Change: +62% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,745,000
      Change: +44% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Strongsville
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8388
    Latitude
    41.3273
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $37,697
    $50,050
    $411,320
    $461,370
    -
    $143,000
    $1,175,200
    $1,318,200

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    • Value Estimation by Request
      11.51 Acres

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      Distribution properties
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      View Details

    Similar Nearby for Sale

    • Contact for pricing
      46,478 SF

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    • $1,250,000
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      Prime Strongsville Storefront Opportunity

      18,920 SF Office/Retail Space, $1.25M
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      Strongsville Buildable Private Acre Lot

      Desirable, buildable, private 1+ acre lot in Strongsville, OH.
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      Industrial Land Available For Sale

      11.51 acres of industrial land with utilities available.
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      9,460 SF

      Well-Maintained Office Building For Sale

      Office building with high visibility, ample parking, and highway access.
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      View Details
    • Contact for pricing

      Land For Sale

      2.03 acre land parcel, excellent location for development.
      21160 Drake Rd, Strongsville, OH 44149
      View Details

    Similar Nearby for Lease

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      86,132 SF

      Strongsville Warehouse Space Available

      86,132 SF warehouse/industrial space for lease in Strongsville, OH.
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      31,987 SF

      Modern Industrial Space in Strongsville

      31,987 SF industrial space with modern amenities available for lease.
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    • $3,000 /Mo
      52,708 SF

      Office/Warehouse in Strongsville, Ohio

      Office/warehouse with high ceilings, private entrances, and included utilities.
      19511 Progress Dr, Strongsville, OH 44149
      View Details
    • Contact for pricing
      2,600 SF

      Industrial Space in Strongsville, OH

      Industrial property with 2,600 square feet available for rent.
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      View Details
    • Contact for pricing
      61,431 SF

      Industrial Property in Strongsville, Ohio

      Industrial property in Cuyahoga County, formerly a chemical distribution center.
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      38,960 SF

      Available Flex and Office Space

      38,960 SF flex and office space available for lease.
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    Strongsville, OH 44149-3232
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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