Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$315,000
Flex space
38151 Airport Pkwy Willoughby, OH 44094-8050
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-1733526
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1987
Total area
14,750 SF
Lot
1.05 ac (45,738 SF)
Zoning code
L-1
APN
27-B-050-F-00-028-0
UPID
US66-1733526
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
-
Electrum Industries Corporate Office
-
Atlas Metal Spinning & Welding General Contractor
-
Midway Material Handling Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
-
Phoenix Tool Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$405k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$315k
Owner & transaction history
Jrj Commercial Properties LLC · 4 yrs held
Jrj Commercial Properties LLC
since 2022
Last sale
$555,000
5 recorded transactions
Zoning & alternative use
L-1 · Willoughby, OH
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
Method
Estimation
Statistic approach
$315,000
ML approach
$405,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$315k
Range $284k – $347k · ±10% · vs last sale $555k (Jul 15 2022)
Last sale anchor
$555k
Jul 15 2022
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
$21 / 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
$20,670
Tax year 2023
Assessed value
$116,330
Assessed 2023
Previous assessed
$116,330
+0.0% YoY
Effective rate
17.77%
On assessed value
Assessed land
$31,260
Assessed improvement
$85,070
Land market value
$89,300
Improvement market value
$243,070
Total market value
$332,370
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Stories
1
Total area
14,750 SF
Lot
1.05 ac (45,738 SF)
Zoning code
L-1
APN
27-B-050-F-00-028-0
UPID
US66-1733526
Jurisdiction
LAKE
Zoning & alternative use
L-1 · Willoughby, OHZoning L-1 · permitted uses
L-1 · Willoughby, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
1131.02 USE REGULATIONS.
Building & site characteristics
From public records
Year built
1987
Heating
FORCED AIR
Stories
1
Lot
1.05 ac
Current owner
From public records · entity-resolved
Jrj Commercial Properties LLC
Entity
Mailing address
424 NE 4TH ST, CAPE CORAL, FL 33909-2512
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2022
$555,000
Jrj Commercial Properties LLC
Sure Way LLC
Warranty Deed
$471,750 · Erie Bank
Oct 12, 2012
—
Sure-way LLC
Sure Way Motors INC
Quit Claim Deed
related
—
Aug 10, 2012
$390,000
Sure Way Motors INC
Jasani Builders LLC
Warranty Deed
$298,500 · Lake National Bank
Jul 1, 2011
—
Jasani Builders LLC
Jasani,jash S & Kundanbala
Quit Claim Deed
related
—
—
—
Jash S Jasani
—
Deed Of Trust
related
$250,000 · Charter One Bank Fsb
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 38151 Airport Pkwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
