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Property profile & analytics
OFF-MARKET
Office buildings
38114 3rd St Willoughby, OH 44094-6140
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US66-1765804
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1926
Total area
5,687 SF
Lot
0.23 ac (10,075 SF)
Zoning code
G-B
APN
27-A-029-C-00-070-0
UPID
US66-1765804
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
-
Vito's Third Street Hrstylst Barber Shop
-
Go Bare Skin Clinic Spa & Massage Center Skin Care Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Rainy Day LLC · 5 yrs held
Rainy Day LLC
since 2021
7 recorded transactions
Zoning & alternative use
G-B · Willoughby, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is intended to provide for commercial services and activities in locations that are adequately served by major streets and other facilities and to encourage the grouping of businesses in shopping centers.
Zone name
General Business District
General category
COMMERCIAL
Zone area
405.96 ac
Source
Realmo
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Willoughby 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$9,460
Tax year 2023
Assessed value
$117,770
Assessed 2023
Previous assessed
$117,770
+0.0% YoY
Effective rate
8.03%
On assessed value
Assessed land
$21,150
Assessed improvement
$96,620
Land market value
$60,440
Improvement market value
$276,070
Total market value
$336,510
Applied tax rate
27.0000
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
1926
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
5,687 SF
Lot
0.23 ac (10,075 SF)
Zoning code
G-B
APN
27-A-029-C-00-070-0
UPID
US66-1765804
Jurisdiction
LAKE
Zoning & alternative use
G-B · Willoughby, OHZoning G-B · permitted uses
G-B · Willoughby, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is intended to provide for commercial services and activities in locations that are adequately served by major streets and other facilities and to encourage the grouping of businesses in shopping centers.
Zone name
General Business District
General category
COMMERCIAL
Zone area
405.96 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1926
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
Rainy Day LLC
Entity
Mailing address
38276 UN ST, WILLOUGHBY, OH 44094-7801
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
Mar 3, 2021
—
Rainy Day LLC
Jacob R Edwards
Warranty Deed
$231,000 · Key Bank NA
Dec 22, 2011
$365,000
Jacob R Edwards
Third Street Downtown Willoughby Ll
Warranty Deed
$292,000 · Ohio Commerce Bank
Dec 22, 2008
—
Street Downtown Willough Third
—
Trustees Deed
related
$50,000 · Michael Paccione
Jan 7, 2008
—
Street Downtown Willough Third
Francis,edward H JR
Quit Claim Deed
related
—
Jan 31, 2003
$265,000
Edward H Francis
Hocevar,david & Donna
Grant Deed
$215,015 · Bank One NA
—
—
Street Downtown Willough Third
—
Deed Of Trust
related
$215,015 · J P Morgan Chase Bank
—
—
Street Downtown Willough Third
—
Deed Of Trust
related
—
—
—
Street Downtown Willough Third
—
Deed Of Trust
related
$250,000 · Lake National Bank
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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