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    Property profile & analytics

    28700 Lakeland Blvd Wickliffe, OH 44092

    • Manufacturing properties
    • 35,515 SF
    • 17.18 lot acres
    OFF-MARKET
    Value Estimations
    $2,245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1569394
    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

    • Manufacturing properties

    Property Details for 28700 Lakeland Blvd

    Year built
    1981
    Lot size
    17.18 lot acres
    Property size
    35,515 SF
    Zone code
    I
    Property type
    Manufacturing properties
    APN
    29-A-003-0-00-021-0
    APU
    29A0030000210

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,280,000
      6.5%
      $2,105,000
      7%
      $1,955,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,498,000
      Market price range: $992k - $2.50M
      AI Estimate
      $2,133,000
      Market price range: $537k - $2.13M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,555,000
      Current use
      AUTO REPAIR, GARAGE
      $2,975,000
      Change: +92% Conversion: Easy
      OFFICE BUILDING
      $2,570,000
      Change: +65% Conversion: Difficult
      MEDICAL BUILDING
      $2,500,000
      Change: +61% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,385,000
      Change: +53% Conversion: Difficult
      RETAIL STORES
      $2,230,000
      Change: +43% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,970,000
      Change: +27% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wickliffe
    County
    Lake
    State
    Ohio
    Longitude
    -81.4721
    Latitude
    41.6162
    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
    $647,715
    $261,930
    $5,626,100
    $5,888,030
    -
    $748,360
    $16,074,570
    $16,822,930

    Comparable in this City

    • Value Estimation
      $1,245,000
      4,440 SF

      28960 Lakeland Blvd

      MANUFACTURING (LIGHT) • 4,440 SF
      28960 Lakeland Blvd, Wickliffe, OH 44092-2370
      View Details
    • Value Estimation
      $1,245,000
      4,894 SF

      29006 Lakeland Blvd

      MANUFACTURING (LIGHT) • 4,894 SF
      29006 Lakeland Blvd, Wickliffe, OH 44092-2322
      View Details
    • Value Estimation
      $2,650,000
      56,251 SF

      26653 Curtiss Wright Pkwy

      MANUFACTURING (LIGHT) • 56,251 SF
      26653 Curtiss Wright Pkwy, Willoughby Hills, OH 44092-2832
      View Details
    • Value Estimation
      $1,655,000
      47,018 SF

      29980 Lakeland Blvd

      MANUFACTURING (LIGHT) • 47,018 SF
      29980 Lakeland Blvd, Wickliffe, OH 44092-1744
      View Details
    • Value Estimation by Request
      290,000 SF

      1400 Worden Rd

      Distribution properties • 290,000 SF
      1400 Worden Rd, Wickliffe, OH 44092
      View Details
    • Value Estimation
      $1,820,000
      64,333 SF

      29201 Anderson Rd

      MANUFACTURING (LIGHT) • 64,333 SF
      29201 Anderson Rd, Wickliffe, OH 44092-2337
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      67,000 SF

      Wickliffe Warehouse/Manufacturing Space For Sale

      67,000 SF warehouse/manufacturing space on 3.02 acres.
      29201 Anderson Rd, Wickliffe, OH 44092
      View Details
    • Contact for pricing
      67,000 SF

      Wickliffe Industrial Property

      67,000 SF Warehouse/Manufacturing Space
      29201 Anderson Rd, Wickliffe, OH 44092
      View Details
    • Contact for pricing

      Wickliffe Commercial Property with Warehouses

      3.22 acres with three buildings, retail, and warehouse space.
      30150 Lakeland Blvd, Wickliffe, OH 44092
      View Details
    • Contact for pricing

      Euclid Avenue Land For Sale

      3.167 acres suitable for self-storage with high traffic.
      30555 Euclid Ave, Wickliffe, OH 44092
      View Details
    • Contact for pricing

      Industrial Warehouse Facility Near I-90

      210,000 SF industrial warehouse on 16.9 acres near I-90.
      1400 Worden Rd, Wickliffe, OH 44092
      View Details
    • Contact for pricing
      4.33 Acres

      Wickliffe Commercial Land Opportunity

      4.33 Acres, High Traffic Area, Development Potential
      29707 Euclid Ave, Wickliffe, OH 44092
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Wickliffe Commercial Property for Lease

      Commercial property available for lease in Wickliffe, Ohio.
      1400 Worden Rd, Wickliffe, OH 44092
      View Details
    • Contact for pricing
      41,329 SF

      Wickliffe Industrial Space Available

      Industrial space available for lease in Wickliffe, Ohio.
      1305-1311 Lloyd Rd, Wickliffe, OH 44092
      View Details
    • Contact for pricing

      Craned Industrial Facility For Rent

      Industrial facility with crane in strategic location available for rent.
      29201 Anderson Rd, Wickliffe, OH 44092
      View Details
    • $4 SF/Yr
      50,000 SF

      Wickliffe Warehouse with Office Space

      19,556 SF warehouse with 1,000 SF office space.
      29325 Clayton Ave, Wickliffe, OH 44092
      View Details
    • Contact for pricing
      21,000 SF

      Wickliffe Warehouse/Office Space Available

      21,000 SF warehouse/office space for lease in Wickliffe, OH.
      29000 Lakeland Blvd, Wickliffe, OH 44092
      View Details
    • Contact for pricing

      Wickliffe Retail Opportunity For Rent

      5,244 SF retail building on 1.28 acres available for rent.
      28711 Euclid Ave, Wickliffe, OH 44092
      View Details
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    Wickliffe, OH 44092
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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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