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    Property profile & analytics

    28500 Pettibone Rd Solon, OH 44139

    • Office buildings
    • 3,600 SF
    • 12.56 lot acres
    OFF-MARKET
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1333640
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 28500 Pettibone Rd

    Year built
    1984
    Construction
    TYPE NOT SPECIFIED
    Lot size
    12.56 lot acres
    Property size
    3,600 SF
    Property type
    Office buildings
    APN
    991-15-019
    APU
    99115019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $584,000
      Market price range: $289k - $875k
      AI Estimate
      $454,000
      Market price range: $199k - $609k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Solon
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4779
    Latitude
    41.3516
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,659
    $79,630
    $49,000
    $128,630
    -
    $227,500
    $140,000
    $367,500

    Comparable in this City

    • Value Estimation
      $340,000
      6,363 SF

      32940 Pkwy Dr

      OFFICE BUILDING • 6,363 SF
      32940 Pkwy Dr, Solon, OH 44139-4063
      View Details
    • Value Estimation
      $1,745,000
      131,224 SF

      29300 Cannon Rd

      OFFICE BUILDING • 131,224 SF
      29300 Cannon Rd, Solon, OH 44139-1561
      View Details
    • Value Estimation by Request
      56,901 SF

      5901 Harper Rd, Unit A

      OFFICE BUILDING • 56,901 SF
      5901 Harper Rd, Solon, OH 44139-1834
      View Details
    • Value Estimation
      $1,210,000
      50,000 SF

      7005 Cochran Rd

      OFFICE BUILDING • 50,000 SF
      7005 Cochran Rd, Solon, OH 44139-4303
      View Details
    • Value Estimation
      $200,000
      8.99 Acres

      Solon Rd

      OFFICE BUILDING (MULTI-STORY) • 8.99 Acres
      Solon Rd, Solon, OH 44139
      View Details
    • Value Estimation
      $610,000
      1,800 SF

      31005 Solon Rd

      OFFICE BUILDING • 1,800 SF
      31005 Solon Rd, Solon, OH 44139-3436
      View Details

    Similar Nearby for Sale

    • $3,995,000
      15,160 SF

      Solon Office Building For Sale

      High-end, fully furnished office building ideal for corporate headquarters.
      33095 Bainbridge Rd, Solon, OH 44139
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    • $1,350,000

      Two-Story Office Complex For Sale

      Two-story office complex with five tenants and updated features.
      30670 Bainbridge Rd, Solon, OH 44139
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    • $1,499,000
      10,560 SF

      Solon Office Complex: 10,560 SF

      Fully occupied, multi-tenant office building
      30670 Bainbridge Rd, Solon, OH 44139
      View Details
    • Contact for pricing
      1,438 SF

      Office Space in Solon

      Office space available in Solon's premier business location.
      30575 Bainbridge Rd, Solon, OH 44139
      View Details
    • Contact for pricing
      10,894 SF

      Retail Property in Solon, Ohio

      Retail property with 10,894 square feet of space.
      32800 Solon Rd, Solon, OH 44139
      View Details
    • $1,450,000
      18,386 SF

      Renovated Industrial Property For Sale

      18,386 SF renovated industrial building with flexible floor plan.
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      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      53,690 SF

      Class A Office Building

      50,000+ SF office building in a scenic, tranquil setting.
      31500 Solon Rd, Solon, OH 44139
      View Details
    • $17 SF/Yr
      1,583 SF

      Renovated Office Space Available

      20,000 SF building renovated in 2019, near I-422.
      6175 Som Center Rd, Solon, OH 44139
      View Details
    • $15 SF/Yr
      1,030 SF

      Solon Office Space Available

      Professional office suite in Solon's commercial corridor for lease.
      6001 Cochran Rd, Solon, OH 44139
      View Details
    • $11 SF/Yr
      46,450 SF

      Solon Office Space Available

      46,450 square feet of office space for lease.
      30825 Aurora Rd, Cleveland, OH 44139
      View Details
    • $9,277 /Mo
      Pending

      Modern Office/Medical Building in Solon

      Modern 5,060 sq ft building near highway with high visibility.
      34570 Aurora Rd, Solon, OH 44139
      View Details
    • New
      $275 SF/Yr
      20,473 SF

      Downtown Solon Office Suite

      Office suite with shared common area in Solon, Ohio.
      33610 Solon Rd, Solon, OH 44139
      View Details
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    28500 Pettibone Rd
    Solon, OH 44139
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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