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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Warehouses
23361 Michelle Dr, Bedford Heights, OH 44146
Entity Owned
4-yr Hold
Free & Clear
Property ID
US66-1741670
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1972
Construction
TYPE NOT SPECIFIED
Total area
7,694 SF
Lot
1.48 ac (64,338 SF)
Zoning code
B-1
APN
791-10-055
UPID
US66-1741670
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
$550k
CAP Approach
CAP
$590k
Comparable Approach
Comparable
$624k
Blend (final)
Blend
$625k
Owner & transaction history
Hall 23360 LLC · 4 yrs held
Hall 23360 LLC
since 2021
Last sale
$722,000
6 recorded transactions
Zoning & alternative use
B-1 · Bedford Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$835,000
+90.8%
Neighborhood: shopping center
$780,000
+77.8%
Commercial (general)
$640,000
+45.5%
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 Bedford Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bedford Heights 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
$620,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
$640,000
6.5%
$590,000
7%
$550,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$440,000
Current use
MEDICAL BUILDING
$835,000
Change: +91% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$780,000
Change: +78% · Conversion: Moderate
COMMERCIAL (GENERAL)
$640,000
Change: +45% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$570,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $722k (Sep 8 2021)
Last sale anchor
$722k
Sep 8 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
$81 / 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
$27,927
Tax year 2023
Assessed value
$268,630
Assessed 2023
Previous assessed
$268,630
+0.0% YoY
Effective rate
10.40%
On assessed value
Assessed land
$84,250
Assessed improvement
$184,380
Land market value
$240,700
Improvement market value
$526,800
Total market value
$767,500
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
1972
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
7,694 SF
Lot
1.48 ac (64,338 SF)
Zoning code
B-1
APN
791-10-055
UPID
US66-1741670
Jurisdiction
CUYAHOGA
Zoning & alternative use
B-1 · Bedford Heights, OH
Zoning B-1 · permitted uses
B-1 · Bedford Heights, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bedford Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$440,000
MEDICAL BUILDING
Est. value
$835,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$780,000
COMMERCIAL (GENERAL)
Est. value
$640,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$570,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1972
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
1.48 ac
Current owner
From public records · entity-resolved
Hall 23360 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1550 E 33RD ST, CLEVELAND, OH 44114-4322
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2021
$722,000
Hall 23360 LLC
United Motor Sales LLC
Limited Warranty Deed
—
Sep 3, 2010
—
Todd R Meyers
Jes Bedford Heights LLC
Quit Claim Deed
related
—
Jun 13, 2006
—
Todd R Meyers
—
Trustees Deed
related
$500,000 · Middlefield Banking Co
Nov 29, 2005
$200,000
Todd R Meyers
South East Harley-davidson Sal
Warranty Deed
—
Sep 27, 2005
$15,000
Bedford Heights LLC
South East Harley-davidson Sal
Warranty Deed
—
—
—
Meyers,todd R & Edythe E
—
Deed Of Trust
related
$195,000 · Middlefield Bkng
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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