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Property profile & analytics
OFF-MARKET
Estimated value
$4,755,000
Manufacturing properties
31387 Industrial Pkwy North Olmsted, OH 44070-4764
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US66-5887848
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1990
Construction
TYPE NOT SPECIFIED
Total area
48,049 SF
Lot
5.38 ac (234,325 SF)
APN
234-09-016
UPID
US66-5887848
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
Current use
Occupant on record · Public records
-
W.B. Mason's WhattaBargain Furniture & Home Goods Home Decor Store
-
W.B. Mason Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.74M
Blend (final)
Blend
$4.76M
Owner & transaction history
Spotlight Property Group LLC · 3 yrs held
Spotlight Property Group LLC
since 2023
Last sale
$4.9M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$7.8M
+270.2%
Medical building
$5.3M
+148.9%
Neighborhood: shopping center
$5.1M
+140.6%
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 North Olmsted submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Olmsted 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
$4,530,000
ML approach
$4,880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,835,000
Change: +270% · Conversion: Difficult
MEDICAL BUILDING
$5,270,000
Change: +149% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,090,000
Change: +141% · Conversion: Difficult
RETAIL STORES
$4,690,000
Change: +122% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,490,000
Change: +112% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,370,000
Change: +107% · Conversion: Easy
Blend value · Realmo final
$4.76M
Range $4.28M – $5.23M · ±10% · vs last sale $4.85M (Jan 19 2023)
Last sale anchor
$4.85M
Jan 19 2023
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
$99 / 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
$171,179
Tax year 2023
Assessed value
$1,510,990
Assessed 2023
Previous assessed
$1,510,990
+0.0% YoY
Effective rate
11.33%
On assessed value
Assessed land
$144,970
Assessed improvement
$1,366,020
Land market value
$414,200
Improvement market value
$3,902,900
Total market value
$4,317,100
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
Off-Market
Year built
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Bathrooms
2
Total area
48,049 SF
Lot
5.38 ac (234,325 SF)
APN
234-09-016
UPID
US66-5887848
Jurisdiction
CUYAHOGA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$7.8M
MEDICAL BUILDING
Est. value
$5.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.1M
RETAIL STORES
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.4M
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
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
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
2
Lot
5.38 ac
Current owner
From public records · entity-resolved
Spotlight Property Group LLC
Entity
Mailing address
756 S BEVERLY GLN BLVD, LOS ANGELES, CA 90024-2534
Ownership since
2023
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
Apr 8, 2026
—
Spotlight Property Group LLC
—
Deed
related
$4,200,000 · Brentwood Bank
Jan 19, 2023
$4,850,026
Spotlight Property Group LLC
Century Properties Xvii LP
Warranty Deed
$3,200,000 · Wells Fargo Bank NA
May 9, 2008
$5,525,000
Xvii
Smigel Family Partnership Ltd
Warranty Deed
$4,143,750 · Ameriserv Financial Bank
May 4, 2001
—
Smigel Family Partnersihp Ltd
—
Deed Of Trust
related
$11,300,000 · National City Bank
Feb 26, 1998
—
Smigel Family Partnership Ltd
Smigel,robert L
Quit Claim Deed
related
—
—
—
Smigel Family Ptshp Ltd
—
Deed Of Trust
related
$3,000,000 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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