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Property profile & analytics
FOR LEASE
Warehouses
28914 Lakeland Blvd Wickliffe, OH 44092
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US66-1269300
For Lease
$1,205,000
28914 Lakeland Blvd, Wickliffe, OH 44092
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1950
Total area
21,499 SF
Lot
1.4 ac (60,984 SF)
Zoning code
I
APN
29-A-008-0-00-003-0
UPID
US66-1269300
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
$1.15M
CAP Approach
CAP
$1.26M
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.21M
Owner & transaction history
Adakin Family Limited Partnership · 5 yrs held
Adakin Family Limited Partnership
since 2020
Last sale
$1.3M
6 recorded transactions
Zoning & alternative use
I · Wickliffe, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+51.2%
Office building
$1.6M
+30.5%
Medical building
$1.5M
+26.9%
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 Wickliffe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wickliffe 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
$1,180,000
ML approach
$1,150,000
CAP Approach
CAP Return
Estimation
6%
$1,360,000
6.5%
$1,255,000
7%
$1,165,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,190,000
Current use
AUTO REPAIR, GARAGE
$1,800,000
Change: +51% · Conversion: Easy
OFFICE BUILDING
$1,555,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$1,515,000
Change: +27% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,445,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$1,350,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±10% · vs last sale $1.30M (Dec 22 2020)
Last sale anchor
$1.30M
Dec 22 2020
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
$56 / 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
$22,175
Tax year 2023
Assessed value
$201,580
Assessed 2023
Previous assessed
$201,580
+0.0% YoY
Effective rate
11.00%
On assessed value
Assessed land
$74,700
Assessed improvement
$126,880
Land market value
$213,440
Improvement market value
$362,510
Total market value
$575,950
Applied tax rate
29.0000
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
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1950
Heating
FLOOR/WALL FURNACE
Cooling
CENTRAL
Stories
1
Rooms
5
Total area
21,499 SF
Lot
1.4 ac (60,984 SF)
Zoning code
I
APN
29-A-008-0-00-003-0
UPID
US66-1269300
Jurisdiction
LAKE
Zoning & alternative use
I · Wickliffe, OH
Zoning I · permitted uses
I · Wickliffe, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wickliffe. 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
$1.8M
OFFICE BUILDING
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1950
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Rooms
5
Lot
1.4 ac
Current owner
From public records · entity-resolved
Adakin Family Limited Partnership
Entity
Mailing address
18222 LANKEN AVE, CLEVELAND, OH 44119-3214
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2026
—
Vadakin Family Limited Partnership
—
Deed
related
$2,873,320 · Washington Savings Bank
Aug 29, 2024
—
Vadakin Family Limited Partnership
—
Deed
related
$1,128,082 · First Fsla Of Lakewood
Dec 22, 2020
$1,300,000
Adakin Family Limited Partnership
Umicore Specialty Materials Recycli
Deed
$975,000 · First Fsla Of Lakewood
Feb 9, 2018
$700,000
Umicore Specialty Materials Re
William S Yanesh Props LLC
Warranty Deed
—
Jul 31, 2002
$5,375
William S Yanesh Properties
Trihard LLC
Grant Deed
$330,000 · Bank One NA
—
—
R D Mccreery
—
Deed Of Trust
related
$1,705,330 · Key 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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