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Property profile & analytics
OFF-MARKET
Estimated value
$5,215,000
Manufacturing properties
37200 Research Dr Eastlake, OH 44095-1869
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US66-1553818
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2001
Total area
111,212 SF
Lot
11.33 ac (493,535 SF)
Zoning code
P-IND
APN
34-A-012-0-00-006-0
UPID
US66-1553818
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
$4.10M
CAP Approach
CAP
$6.59M
Comparable Approach
Comparable
$5.65M
Blend (final)
Blend
$5.22M
Owner & transaction history
Research Dr Eastlake Oh LLC · 5 yrs held
Research Dr Eastlake Oh LLC
since 2021
Last sale
$6.0M
7 recorded transactions
Zoning & alternative use
P-IND · Eastlake, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$7.8M
+49.4%
Warehouse, storage
$6.2M
+17.7%
Office building
$5.2M
+0.1%
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
$4,360,000
ML approach
$4,100,000
CAP Approach
CAP Return
Estimation
6%
$7,135,000
6.5%
$6,585,000
7%
$6,115,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,235,000
Current use
MEDICAL BUILDING
$7,825,000
Change: +49% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,165,000
Change: +18% · Conversion: Easy
OFFICE BUILDING
$5,245,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$5.22M
Range $4.69M – $5.74M · ±10% · vs last sale $6.00M (May 5 2021)
Last sale anchor
$6.00M
May 5 2021
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
$47 / 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
$126,237
Tax year 2023
Assessed value
$1,306,260
Assessed 2023
Previous assessed
$1,306,260
+0.0% YoY
Effective rate
9.66%
On assessed value
Assessed land
$333,510
Assessed improvement
$972,750
Land market value
$952,880
Improvement market value
$2,779,280
Total market value
$3,732,160
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
111,212 SF
Lot
11.33 ac (493,535 SF)
Zoning code
P-IND
APN
34-A-012-0-00-006-0
UPID
US66-1553818
Jurisdiction
LAKE
Zoning & alternative use
P-IND · Eastlake, OHZoning P-IND · permitted uses
P-IND · Eastlake, OH
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
INDUSTRIAL (GENERAL) Current
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$7.8M
WAREHOUSE, STORAGE
Est. value
$6.2M
OFFICE BUILDING
Est. value
$5.2M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
OFFICE BUILDING
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
2001
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
11.33 ac
Current owner
From public records · entity-resolved
Research Dr Eastlake Oh LLC
Entity
Mailing address
600 EE AVE STE #200, ROCHESTER, NY 14607-2089
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2021
$6,000,000
Research Dr Eastlake Oh LLC
Cle37200reseach LLC
Limited Warranty Deed
—
Nov 13, 2020
—
Lake Business Solutions LLC
Lake Business Solutions LLC
Quit Claim Deed
—
Nov 13, 2020
$4,250,000
Cle37200research LLC
Russell R Walton
Limited Warranty Deed
—
Dec 10, 2002
—
Lake Business Solutions LLC
Development Of The State Ohio
Trustees Deed
$2,100,000 · Key Bank NA
Oct 22, 1999
—
John D Chappetta
Eastlake Industrial Park Ltd
Grant Deed
related
—
Jul 8, 1999
—
Eastlake Industrial Park Ltd
Chiappetta,john D & Patricia A
Grant Deed
related
—
—
—
Lake Business Solutions LLC
—
Deed Of Trust
related
$600,000 · Key Bank & Trust
—
—
Lake Business Solutions LLC
—
Deed Of Trust
related
$1,200,000 · Keybank USA
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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