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Property profile & analytics
FOR LEASE
Manufacturing properties
28960 Lakeland Blvd Wickliffe, OH 44092
Individually Owned
11-yr Hold
Free & Clear
Property ID
US66-0121009
For Lease
$1,255,000
28960 Lakeland Blvd, Wickliffe, OH 44092
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1984
Total area
7,500 SF
Lot
2.23 ac (97,139 SF)
Zoning code
I
APN
29-A-004-0-00-029-0
UPID
US66-0121009
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
$1.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.26M
Owner & transaction history
Umicore Specialty Materials Re · 11 yrs held
Umicore Specialty Materials Re
since 2014
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
I · Wickliffe, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+227.9%
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
$1,235,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,075,000
Change: +228% · Conversion: Difficult
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±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
$167 / 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
$5,427
Tax year 2023
Assessed value
$49,330
Assessed 2023
Previous assessed
$49,330
+0.0% YoY
Effective rate
11.00%
On assessed value
Assessed land
$12,750
Assessed improvement
$36,580
Land market value
$36,430
Improvement market value
$104,500
Total market value
$140,930
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1984
Heating
FORCED AIR
Stories
1
Total area
7,500 SF
Lot
2.23 ac (97,139 SF)
Zoning code
I
APN
29-A-004-0-00-029-0
UPID
US66-0121009
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
RESTAURANT
Est. value
$1.1M
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
1984
Heating
FORCED AIR
Stories
1
Lot
2.23 ac
Current owner
From public records · entity-resolved
Umicore Specialty Materials Re
Individual
Free & Clear · 11 yrs held
Mailing address
18222 LANKEN AVE, CLEVELAND, OH 44119-3214
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 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
Aug 12, 2014
$693,800
Umicore Specialty Materials Re
Cp Chemicals Group LP
Grant Deed
—
Aug 12, 2014
$306,300
Umicore Specialty Materials Re
Cp Chemicals LLC
Grant Deed
—
Oct 23, 2009
$527,400
Cp Chemicals LLC
Hall Chemical
Grant Deed
—
Sep 30, 2008
$50,000
Hall Chemical Co
Foti Construction Building LLC
Warranty Deed
—
Oct 22, 2007
—
Hall Chemical Co
Hall Chemical
Quit Claim Deed
—
Oct 24, 2003
$450,000
Met-chem Technologies INC
Rabb,howard S
Grant Deed
$185,000 · Dunagan Acquisition Ltd
—
—
Hall Chemical Co
—
Deed Of Trust
related
$3,500,000 · Dunagan Acquisitions Ltd
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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