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Property profile & analytics
OFF-MARKET
Estimated value
$4,165,000
Manufacturing properties
22889 Lunn Rd, Strongsville, OH 44149-4800
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US66-1428284
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1999
Construction
TYPE NOT SPECIFIED
Total area
87,500 SF
Lot
79.53 ac (3,464,417 SF)
Zoning code
GI
APN
394-01-002
UPID
US66-1428284
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
$4.28M
CAP Approach
CAP
$5.53M
Comparable Approach
Comparable
$2.58M
Blend (final)
Blend
$4.17M
Owner & transaction history
Transcendia Holdings INC · 3 yrs held
Transcendia Holdings INC
since 2022
Last sale
$4.8M
7 recorded transactions
Zoning & alternative use
GI · Strongsville, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.5M
+71.6%
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
$3,695,000
ML approach
$4,275,000
CAP Approach
CAP Return
Estimation
6%
$5,990,000
6.5%
$5,530,000
7%
$5,135,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,775,000
Current use
APARTMENT HOUSE (5+ UNITS)
$6,475,000
Change: +72% · Conversion: Difficult
Blend value · Realmo final
$4.17M
Range $3.75M – $4.58M · ±10% · vs last sale $4.83M (Aug 24 2022)
Last sale anchor
$4.83M
Aug 24 2022
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
$48 / 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
$116,422
Tax year 2023
Assessed value
$1,424,890
Assessed 2023
Previous assessed
$1,424,890
+0.0% YoY
Effective rate
8.17%
On assessed value
Assessed land
$228,060
Assessed improvement
$1,196,830
Land market value
$651,600
Improvement market value
$3,419,500
Total market value
$4,071,100
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
1999
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Total area
87,500 SF
Lot
79.53 ac (3,464,417 SF)
Zoning code
GI
APN
394-01-002
UPID
US66-1428284
Jurisdiction
CUYAHOGA
Zoning & alternative use
GI · Strongsville, OH
Zoning GI · permitted uses
GI · 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
INDUSTRIAL (GENERAL) Current
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.5M
INDUSTRIAL (GENERAL) Current
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
1999
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
79.53 ac
Current owner
From public records · entity-resolved
Transcendia Holdings INC
Entity
Mailing address
9201 BELMONT AVE, FRANKLIN PARK, IL 60131-2842
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2022
—
Transcendia Holdings INC
Hot Air Multi LLC
Lease
—
Aug 24, 2022
$4,826,123
Hot Air Multi LLC
Transcendia INC
Limited Warranty Deed
—
Aug 17, 2022
—
Transcendia Holdings INC
Hot Air Multi LLC
Lease
—
Jul 13, 2018
—
Transcendia INC
—
Grant Deed
related
$690,000,000 · Keybank USA
Jan 23, 2013
—
Transilwrap Co INC
—
Deed Of Trust
related
$121,485,119 · Cit Lending Services Corp
Oct 9, 2012
—
Transilwrap Co INC
—
Deed Of Trust
related
$114,000,000 · Cit Lending Services Corp
Jan 3, 2011
—
Transilwrap Co INC
—
Deed Of Trust
related
$99,000,000 · Cit Lending Services Corp
Sep 11, 2007
—
Transilwrap Co INC
—
Deed Of Trust
related
$95,000,000 · Cit Lending Services Corp
Dec 23, 1998
$582,600
Transil Wrap Co INC
Sti Properties INC
Grant Deed
—
—
—
Transilwrap Co INC
—
Deed Of Trust
related
$160,000,000 · Cit Fin LLC
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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