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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Office buildings
28005 Clemens Rd Westlake, OH 44145-1139
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-2365171
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
WOOD
Total area
5,292 SF
Lot
1.66 ac (72,231 SF)
Zoning code
OL
APN
212-08-004
UPID
US66-2365171
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
$1.25M
CAP Approach
CAP
$1.18M
Comparable Approach
Comparable
$999k
Blend (final)
Blend
$1.10M
Owner & transaction history
Clemens Road LLC · 4 yrs held
Clemens Road LLC
since 2021
Last sale
$1.0M
7 recorded transactions
Zoning & alternative use
OL · Westlake, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$895,000
+17.8%
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 Westlake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westlake 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
$1,395,000
ML approach
$1,250,000
CAP Approach
CAP Return
Estimation
6%
$1,280,000
6.5%
$1,180,000
7%
$1,095,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$755,000
Current use
RESTAURANT
$895,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±10% · vs last sale $1.03M (Nov 18 2021)
Last sale anchor
$1.03M
Nov 18 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
$208 / 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
$24,885
Tax year 2023
Assessed value
$248,920
Assessed 2023
Previous assessed
$248,920
+0.0% YoY
Effective rate
10.00%
On assessed value
Assessed land
$79,940
Assessed improvement
$168,980
Land market value
$228,400
Improvement market value
$482,800
Total market value
$711,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2003
Construction
WOOD
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
5,292 SF
Lot
1.66 ac (72,231 SF)
Zoning code
OL
APN
212-08-004
UPID
US66-2365171
Jurisdiction
CUYAHOGA
Zoning & alternative use
OL · Westlake, OH
Zoning OL · permitted uses
OL · Westlake, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Westlake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$755,000
RESTAURANT
Est. value
$895,000
OFFICE BUILDING Current
RESTAURANT
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
2003
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.66 ac
Current owner
From public records · entity-resolved
Clemens Road LLC
Entity
Mailing address
28005 CLEMENS RD, WESTLAKE, OH 44145-1139
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2021
$1,025,000
Clemens Road LLC
Mdi Properties LLC
Warranty Deed
$900,000 · Columbia State Bank
Jun 6, 2018
—
Mdi Properties LLC
—
Deed
related
$1,610,500 · Huntington Nat'l Bk
Dec 13, 2002
—
Mdi Properties LLC
Lowe,nicholas J & Roseanne
Quit Claim Deed
related
—
Nov 26, 2002
$170,000
Nicholas J Lowe
Needles,tr
Grant Deed
—
Jul 21, 1999
$90,000
Saratoga Of Ohio Ltd
Brian X Needles Trustee
Grant Deed
—
Dec 17, 1997
$60,500
Westlake-clemens Properties
Brian X Needles Trustee
Grant Deed
$55,000 · Premierbank & Trust
—
—
Mdi Properties LLC
—
Deed Of Trust
related
$623,033 · Pnc Bank
—
—
Saratoga Of Ohio Ltd
—
Deed Of Trust
related
$100,000 · Firstmerit Bank NA
—
—
Mdi Properties LLC
—
Deed Of Trust
related
$1,000,000 · Huntington National Bank
—
—
Mdi Properties LLC
—
Deed Of Trust
related
$1,610,500 · Huntington Nat'l 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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