Entity Owned 
For Lease
1 / 10
$21.50 SF/Yr
3 Summit Park Dr, Independence, OH 44131
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
196,944 SF
Lot
5.54 ac (241,214 SF)
Zoning code
U-5
APN
562-32-016
UPID
US66-2072972
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Agricultural Supply Food Market
-
Insurance Agency
-
Accounting Firm Tax Preparation
-
Industrial Manufacturer Production Facility
-
Big Box & Wholesale Store Building Supply
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.98M
Blend (final)
Blend
$18.55M
Owner & transaction history
since 2014
2 recorded transactions
Zoning & alternative use
U-5 · Independence, OH
Zoning description
The intent of this zone is to promote office building and research laboratory uses
General category
UNKNOWN
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$18.55M
Value range
$16.69M – $20.40M
±10% around blend
Estimated value / SF
$94 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$16.69M
blend $18.55M
$20.40M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
196,944 SF
Lot area
5.54 ac
Year built
1989
Stories
6
APN
562-32-016
Zoning
U-5
Assessed value
$3,559,860
Annual tax
$266,078
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$266,078
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$19.98M
Range $19.98M – $70.13M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$18.55M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 46 sales
$251
-62%
Submarket 666 sales
$162
-42%
County 697 sales
$163
-42%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $94/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.13M
Move the market yield to see immediate price impact.
Value / SF
$6
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$71k
$1.42M
$1.02M
$790k
$79k
$1.58M
$1.13M
$878k
$87k
$1.74M
$1.24M
$966k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$266,078
Tax year 2023
Assessed value
$3,559,860
Assessed 2023
Previous assessed
$3,559,860
+0.0% YoY
Effective rate
7.47%
On assessed value
Assessed land
$506,560
Assessed improvement
$3,053,300
Land market value
$1,447,300
Improvement market value
$8,723,700
Total market value
$10,171,000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1989
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
6
Total area
196,944 SF
Lot
5.54 ac (241,214 SF)
Zoning code
U-5
APN
562-32-016
UPID
US66-2072972
Jurisdiction
CUYAHOGA
Zoning & alternative use
U-5 · Independence, OHZoning U-5 · permitted uses
U-5 · Independence, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The intent of this zone is to promote office building and research laboratory uses
General category
UNKNOWN
Building & site characteristics
From public records
Year built
1989
Heating
FORCED AIR
Cooling
Yes
Stories
6
Buildings
2
Lot
5.54 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
U-5
UNKNOWN
Jurisdiction
Independence, OH
Recorded code
U-5
Official district
U-5
Official district profile
What the municipal code says about U-5
Zoning description
The intent of this zone is to promote office building and research laboratory uses
General category
UNKNOWN
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for U-5 in Independence, OH.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
