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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Medical Office Space
29143 Ctr Rdg Rd Westlake, OH 44145-5222
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US66-1659708
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2006
Construction
WOOD
Total area
4,880 SF
Lot
2.83 ac (123,274 SF)
Zoning code
OB
APN
216-20-017
UPID
US66-1659708
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
$495k
CAP Approach
CAP
$745k
Comparable Approach
Comparable
$805k
Blend (final)
Blend
$655k
Owner & transaction history
Ram Commercial Properties LLC · 8 yrs held
Ram Commercial Properties LLC
since 2018
5 recorded transactions
Zoning & alternative use
OB · Westlake, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Office Building District is intended for both local and regional offices adjacent to business areas and accessible to residents and in which such uses are compatible with adjoining residential districts.
Zone name
Office Building
General category
COMMERCIAL
Zone area
261.83 ac
Source
Realmo
Top alternative use upside
Office building
$700,000
+31.7%
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
$495,000
CAP Approach
CAP Return
Estimation
6%
$810,000
6.5%
$745,000
7%
$695,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$530,000
Current use
OFFICE BUILDING
$700,000
Change: +32% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$495,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$435,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±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
$134 / 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
$47,339
Tax year 2023
Assessed value
$675,500
Assessed 2023
Previous assessed
$675,500
+0.0% YoY
Effective rate
7.01%
On assessed value
Assessed land
$362,320
Assessed improvement
$313,180
Land market value
$1,035,200
Improvement market value
$894,800
Total market value
$1,930,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2006
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
4,880 SF
Lot
2.83 ac (123,274 SF)
Zoning code
OB
APN
216-20-017
UPID
US66-1659708
Jurisdiction
CUYAHOGA
Zoning & alternative use
OB · Westlake, OHZoning OB · permitted uses
OB · Westlake, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Office Building District is intended for both local and regional offices adjacent to business areas and accessible to residents and in which such uses are compatible with adjoining residential districts.
Zone name
Office Building
General category
COMMERCIAL
Zone area
261.83 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$530,000
OFFICE BUILDING
Est. value
$700,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$495,000
AUTO REPAIR, GARAGE
Est. value
$435,000
MEDICAL BUILDING Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
2006
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.83 ac
Current owner
From public records · entity-resolved
Ram Commercial Properties LLC
Entity
Mailing address
75 N CHILLICOTHE RD, AURORA, OH 44202-8739
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2020
—
Ram Commercial Properties LLC
—
Deed
related
$1,485,177 · Huntington Nat'l Bk
Jun 8, 2018
$1,930,000
Ram Commercial Properties LLC
B R Waverly Corp
Warranty Deed
$1,520,000 · Pnc Bk
Aug 4, 2005
—
B R Waverly Corp
—
Trustees Deed
related
$1,900,000 · Firstmerit Bank NA
—
—
Br Waverly Corp
—
Deed Of Trust
related
$1,900,000 · Firstmerit Bank NA
—
—
Ram Commercial Properties LLC
—
Deed Of Trust
related
$1,485,177 · Huntington Nat'l Bk
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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