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Property profile & analytics
FOR LEASE
Warehouses
27000 Richmond Rd, Solon, OH 44139
Entity Owned
1-yr Hold
Free & Clear
Property ID
US66-2591435
For Lease
1 / 4
$8 SF/Yr
27000 Richmond Rd, Solon, OH 44139
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
TYPE NOT SPECIFIED
Total area
23,940 SF
Lot
6.83 ac (297,534 SF)
Zoning code
I-1
APN
951-06-007
UPID
US66-2591435
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
$1.84M
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.46M
Owner & transaction history
Rpel Richmond Rd LLC · 1 yrs held
Rpel Richmond Rd LLC
since 2025
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
I-1 · Solon, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.1M
+73.7%
Commercial (general)
$2.0M
+61.8%
Apartment house (5+ units)
$1.8M
+44.5%
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 Solon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Solon 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%
$1,990,000
6.5%
$1,835,000
7%
$1,705,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,225,000
Current use
AUTO REPAIR, GARAGE
$2,130,000
Change: +74% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,985,000
Change: +62% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,770,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$1.46M
Range $1.31M – $1.60M · ±10% · vs last sale $1.53M (Oct 21 2024)
Last sale anchor
$1.53M
Oct 21 2024
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
$61 / 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
$48,940
Tax year 2023
Assessed value
$497,250
Assessed 2023
Previous assessed
$497,250
+0.0% YoY
Effective rate
9.84%
On assessed value
Assessed land
$136,470
Assessed improvement
$360,780
Land market value
$389,900
Improvement market value
$1,030,800
Total market value
$1,420,700
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
For Lease
Year built
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
23,940 SF
Lot
6.83 ac (297,534 SF)
Zoning code
I-1
APN
951-06-007
UPID
US66-2591435
Jurisdiction
CUYAHOGA
Zoning & alternative use
I-1 · Solon, OH
Zoning I-1 · permitted uses
I-1 · Solon, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Solon. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
WAREHOUSE, STORAGE Current
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
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
6.83 ac
Current owner
From public records · entity-resolved
Rpel Richmond Rd LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4423 RENAISSANCE PKWY, CLEVELAND, OH 44128-5754
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2025
$1,530,000
Rpel Richmond Rd LLC
Hjb Holdings LLC
Deed
—
Sep 9, 2019
—
Hjb Holdings LLC
—
Deed
related
$1,150,000 · Northwest Bk
Sep 8, 2014
$1,290,000
Hjb Holdings LLC
Maizner Sam Trust
Grant Deed
related
—
—
—
Hjb Holdings LLC
—
Deed Of Trust
related
$1,150,000 · Northwest Bk
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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