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Property profile & analytics
OFF-MARKET Estimated value $680,000
Office buildings

23660 Miles Rd Bedford Heights, OH 44128-5435

13,898 SF 0.77 ac lot Built 1971
Entity Owned 21-yr Hold ~ Est. High Equity
Property ID
US66-1999009
Property summary
AI-generated overview

This exceptional investment opportunity presents a 23,469-square-foot multi-tenant warehouse located at 23660 Miles Road in Bedford Heights, Ohio, within Cuyahoga County, zip code 44128. The property, built in 1971, is currently listed at $1,030,000, translating to a price per square foot of $51. All tenants are on leases expiring at the end of 2024, many with a significant history of occupancy. This presents a compelling acquisition opportunity well below current replacement costs. The property boasts significant recent improvements: the front roof features a brand-new TPO roof complete with a warranty, while the back roof, installed in 2007, still benefits from a remaining portion of its 20-year warranty. Strategically positioned less than half a mile from the intersection of Interstates 480 and 271, this warehouse enjoys excellent access to major transportation arteries, enhancing its logistical appeal and potential for future growth. This is a rare chance to acquire a well-maintained, strategically located industrial property with strong tenant occupancy and significant upside potential.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1971
Construction TYPE NOT SPECIFIED
Total area 13,898 SF
Lot 0.77 ac (33,660 SF)
Zoning code I
APN 791-07-001
UPID US66-1999009
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
$480k
CAP Approach CAP
by Request
Comparable Approach Comparable
$596k
Blend (final) Blend
$680k
Owner & transaction history
S & L Properties Ltd · 21 yrs held
S & L Properties Ltd
since 2005
1 recorded transaction
2005
$675,000
Zoning & alternative use
I · Bedford Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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