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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Strip malls
28687 Ctr Rdg Rd 28743 Westlake, OH 44145-3810
Entity Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-1934443
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1990
Construction
TYPE NOT SPECIFIED
Total area
9,900 SF
Lot
2.89 ac (126,106 SF)
Zoning code
GB
APN
216-18-001
UPID
US66-1934443
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
by Request
Comparable Approach
Comparable
$956k
Blend (final)
Blend
$875k
Owner & transaction history
Kensington Partners LP · 25 yrs held
Kensington Partners LP
since 2001
1 recorded transaction
Zoning & alternative use
GB · Westlake, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
General Business District is intended to promote areas in which individual businesses which supply convenience and shopping goods and services may locate.
Zone name
General Business
General category
COMMERCIAL
Zone area
264.16 ac
Source
Realmo
Top alternative use upside
Office building
$1.4M
+41.3%
Apartment house (5+ units)
$1.1M
+9.1%
Medical building
$1.1M
+7.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,005,000
Current use
OFFICE BUILDING
$1,415,000
Change: +41% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,095,000
Change: +9% · Conversion: Difficult
MEDICAL BUILDING
$1,075,000
Change: +7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$880,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$820,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$875k
Range $788k – $963k · ±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
$88 / 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
$29,862
Tax year 2023
Assessed value
$430,500
Assessed 2023
Previous assessed
$430,500
+0.0% YoY
Effective rate
6.94%
On assessed value
Assessed land
$264,810
Assessed improvement
$165,690
Land market value
$756,600
Improvement market value
$473,400
Total market value
$1,230,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1990
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
9,900 SF
Lot
2.89 ac (126,106 SF)
Zoning code
GB
APN
216-18-001
UPID
US66-1934443
Jurisdiction
CUYAHOGA
Zoning & alternative use
GB · Westlake, OHZoning GB · permitted uses
GB · Westlake, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
General Business District is intended to promote areas in which individual businesses which supply convenience and shopping goods and services may locate.
Zone name
General Business
General category
COMMERCIAL
Zone area
264.16 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$880,000
COMMERCIAL (GENERAL)
Est. value
$820,000
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1990
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
2.89 ac
Current owner
From public records · entity-resolved
Kensington Partners LP
Entity
Mailing address
2001 CROCKER RD STE #420, WESTLAKE, OH 44145-6967
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2001
—
Kensington Partners LP
—
Deed Of Trust
related
$1,150,000 · Firstmerit Bank NA
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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