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Property profile & analytics
OFF-MARKET
Estimated value
$3,295,000
Warehouses
35620 Lakeland Blvd, Eastlake, OH 44095-5306
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-1316814
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1987
Total area
22,692 SF
Lot
3.54 ac (154,202 SF)
Zoning code
L-IND
APN
34-A-004-0-00-037-0
UPID
US66-1316814
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
$3.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.30M
Owner & transaction history
Lakeland Business Park LLC · 2 yrs held
Lakeland Business Park LLC
since 2023
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
L-IND · Eastlake, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.3M
+158.7%
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 Eastlake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eastlake 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
$3,460,000
ML approach
$3,330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,255,000
Change: +159% · Conversion: Difficult
Blend value · Realmo final
$3.30M
Range $2.97M – $3.62M · ±10% · vs last sale $3.20M (Sep 21 2023)
Last sale anchor
$3.20M
Sep 21 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
$145 / 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
$17,811
Tax year 2023
Assessed value
$211,940
Assessed 2023
Previous assessed
$211,940
+0.0% YoY
Effective rate
8.40%
On assessed value
Assessed land
$99,170
Assessed improvement
$112,770
Land market value
$283,350
Improvement market value
$322,200
Total market value
$605,550
Applied tax rate
34.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Stories
1
Total area
22,692 SF
Lot
3.54 ac (154,202 SF)
Zoning code
L-IND
APN
34-A-004-0-00-037-0
UPID
US66-1316814
Jurisdiction
LAKE
Zoning & alternative use
L-IND · Eastlake, OH
Zoning L-IND · permitted uses
L-IND · Eastlake, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Eastlake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$3.3M
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
1987
Heating
FORCED AIR
Stories
1
Lot
3.54 ac
Current owner
From public records · entity-resolved
Lakeland Business Park LLC
Entity
Mailing address
29480 EDDY RD, WILLOUGHBY, OH 44094
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2025
—
Lakeland Business Park LLC
—
Deed
related
$700,000 · Civista Bank
Sep 21, 2023
$3,200,000
Lakeland Business Park LLC
Barbara Belich
Warranty Deed
$2,400,000 · Civista Bank
Jan 24, 2023
—
Barbara Belich Trusts
Barbara Belich
Transfer On Death Deed
related
—
Aug 7, 2018
—
Martin J Belich
Belich,martin J
Quit Claim Deed
related
—
Feb 3, 2017
—
Martin J Belich
—
Grant Deed
related
$1,600,000 · Civista Bk
Jun 22, 2009
—
Martin J Belich
—
Deed Of Trust
related
$2,300,000 · Fifth Third Bank
—
—
Martin J Belich
—
Deed Of Trust
related
$2,150,000 · Standard Insurance Co
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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