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Property profile & analytics
OFF-MARKET
Estimated value
$1,380,000
Office buildings
34600 Chardon Rd Willoughby Hills, OH 44094-8480
Individually Owned
3-yr Hold
Free & Clear
Property ID
US66-2026475
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Total area
12,952 SF
Lot
1.72 ac (74,836 SF)
APN
31-A-006-F-00-020-0
UPID
US66-2026475
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.38M
Owner & transaction history
Western Reeeseve Land Conservancy · 3 yrs held
Western Reeeseve Land Conservancy
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+141.2%
Auto repair, garage
$1.1M
+41.0%
Medical building
$910,000
+18.3%
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 Willoughby Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Willoughby Hills 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,860,000
Change: +141% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,085,000
Change: +41% · Conversion: Difficult
MEDICAL BUILDING
$910,000
Change: +18% · Conversion: Easy
COMMERCIAL (GENERAL)
$870,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$1.38M
Range $1.24M – $1.52M · ±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
$107 / 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
$24,611
Tax year 2023
Assessed value
$310,410
Assessed 2023
Previous assessed
$310,410
+0.0% YoY
Effective rate
7.93%
On assessed value
Assessed land
$69,040
Assessed improvement
$241,370
Land market value
$197,260
Improvement market value
$689,620
Total market value
$886,880
Applied tax rate
31.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
12,952 SF
Lot
1.72 ac (74,836 SF)
APN
31-A-006-F-00-020-0
UPID
US66-2026475
Jurisdiction
LAKE
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
RESTAURANT
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$910,000
COMMERCIAL (GENERAL)
Est. value
$870,000
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1998
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.72 ac
Current owner
From public records · entity-resolved
Western Reeeseve Land Conservancy
Individual
Free & Clear · 3 yrs held
Mailing address
38650 FLORENCE DR, WILLOUGHBY HILLS, OH 44094-8721
Ownership since
2022
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
Sep 30, 2022
—
Western Reeeseve Land Conservancy
City Of Willoughby
Limited Warranty Deed
—
May 17, 2021
—
Loreto Development Ltd
—
Deed
related
$2,088,000 · Civista Bank
May 19, 2016
—
Loreto Dev Ltd
—
Deed
related
$2,600,000 · Northwest Bk
Jul 5, 2011
—
Loreto Dev Ltd
—
Deed Of Trust
related
$2,750,000 · Liberty Bank
Sep 16, 2004
—
Loreto Dev Ltd
—
Trustees Deed
related
$1,300,000 · Firstmerit Bank NA
Apr 19, 2000
—
Loreto Development Ltd
Robert H Myers Trustee
Quit Claim Deed
related
—
—
—
Loreto Development Ltd
—
Deed Of Trust
related
$875,000 · Firstmerit Bank NA
—
—
Loreto Dev Ltd
—
Deed Of Trust
related
$2,600,000 · Northwest Bk
—
—
Loreto Development Ltd
—
Deed Of Trust
related
$50,000 · Firstmerit 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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