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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Manufacturing properties
24112 Rockwell Dr Euclid, OH 44117-1252
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-0678228
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1959
Construction
TYPE NOT SPECIFIED
Total area
12,711 SF
Lot
4.3 ac (187,500 SF)
Zoning code
U6
APN
647-30-008
UPID
US66-0678228
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
by Request
CAP Approach
CAP
$805k
Comparable Approach
Comparable
$974k
Blend (final)
Blend
$805k
Owner & transaction history
Terves LLC · 8 yrs held
Terves LLC
since 2018
7 recorded transactions
Zoning & alternative use
U6 · Euclid, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
1359.05 SUPPLEMENTAL REGULATIONS FOR ALL USES. 1359.06 REGULATIONS FOR SPECIFIC USES. 1359.07 HEIGHT REQUIREMENTS. 1359.08 LOT AREA AND SETBACK REQUIREMENTS. CHAPTER 1360 U5 Commercial Districts (Repealed) CHAPTER 1361 U6 Industrial and Manufacturing Districts (Repealed) CHAPTER 1362 U7 Light Industrial Park Districts CHAPTER 1363 U8 Office Building District…
Zone name
Industrial And Manufacturing
General category
INDUSTRIAL
Zone area
1,181.59 ac
Top alternative use upside
Neighborhood: shopping center
$1.3M
+134.9%
Auto repair, garage
$1.1M
+106.3%
Commercial (general)
$1.1M
+92.2%
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 Euclid submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Euclid 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%
$870,000
6.5%
$805,000
7%
$745,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$550,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,290,000
Change: +135% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,130,000
Change: +106% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,055,000
Change: +92% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$940,000
Change: +72% · Conversion: Difficult
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$63 / 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
$28,649
Tax year 2023
Assessed value
$261,210
Assessed 2023
Previous assessed
$261,210
+0.0% YoY
Effective rate
10.97%
On assessed value
Assessed land
$74,590
Assessed improvement
$186,620
Land market value
$213,100
Improvement market value
$533,200
Total market value
$746,300
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
1959
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
12,711 SF
Lot
4.3 ac (187,500 SF)
Zoning code
U6
APN
647-30-008
UPID
US66-0678228
Jurisdiction
CUYAHOGA
Zoning & alternative use
U6 · Euclid, OHZoning U6 · permitted uses
U6 · Euclid, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
1359.05 SUPPLEMENTAL REGULATIONS FOR ALL USES. 1359.06 REGULATIONS FOR SPECIFIC USES. 1359.07 HEIGHT REQUIREMENTS. 1359.08 LOT AREA AND SETBACK REQUIREMENTS. CHAPTER 1360 U5 Commercial Districts (Repealed) CHAPTER 1361 U6 Industrial and Manufacturing Districts (Repealed) CHAPTER 1362 U7 Light Industrial Park Districts CHAPTER 1363 U8 Office Building Districts CHAPTER 1364 C-I Campus Institutional District CHAPTER 1365 Overlay Districts C
Zone name
Industrial And Manufacturing
General category
INDUSTRIAL
Zone area
1,181.59 ac
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$550,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$940,000
INDUSTRIAL (GENERAL) Current
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
1959
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
4.3 ac
Current owner
From public records · entity-resolved
Terves LLC
Entity
Mailing address
9181 BOYER LN, MENTOR, OH 44060-7916
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2024
—
Sherman Properties LLC
—
Deed
related
$725,000 · Bank Of America NA
Jul 12, 2018
—
Terves LLC
Sherman Properties LLC
Grant Deed
related
$585,000 · Middlefield Bkng
Oct 31, 2016
—
Sherman Properties LLC
—
Deed
related
$620,000 · Keybank USA
Nov 27, 2002
$602,500
Sherman Properties LLC
Utica Realty Holdings LLC
Grant Deed
$1,150,000 · Cuyahoga County (oh)
Aug 29, 2001
$750,000
Utica Realty Holdings LLC
Compressor Components Texton
Grant Deed
related
$27,000,000 · General Electric Capital Ttee
—
—
Sherman Properties LLC
—
Deed Of Trust
related
$620,000 · Keybank USA
—
—
Sherman Properties LLC
—
Deed Of Trust
related
$585,000 · 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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