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Property profile & analytics
OFF-MARKET
Estimated value
$1,390,000
Flex space
38164 Airport Pkwy, Willoughby, OH 44094-8021
Entity Owned
2-yr Hold
Free & Clear
Property ID
US66-2402316
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1986
Total area
5,888 SF
Lot
1.05 ac (45,738 SF)
Zoning code
L-1
APN
27-B-050-F-00-016-0
UPID
US66-2402316
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
$1.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.39M
Owner & transaction history
Fremont Company An Ohio Corp For Pr · 2 yrs held
Fremont Company An Ohio Corp For Pr
since 2023
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
L-1 · Willoughby, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$845,000
+190.2%
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
$1,460,000
ML approach
$1,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$845,000
Change: +190% · Conversion: Difficult
Blend value · Realmo final
$1.39M
Range $1.25M – $1.53M · ±10% · vs last sale $1.35M (Aug 8 2023)
Last sale anchor
$1.35M
Aug 8 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
$236 / 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
$7,300
Tax year 2023
Assessed value
$77,100
Assessed 2023
Previous assessed
$77,100
+0.0% YoY
Effective rate
9.47%
On assessed value
Assessed land
$31,260
Assessed improvement
$45,840
Land market value
$89,300
Improvement market value
$130,970
Total market value
$220,270
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
1986
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
5,888 SF
Lot
1.05 ac (45,738 SF)
Zoning code
L-1
APN
27-B-050-F-00-016-0
UPID
US66-2402316
Jurisdiction
LAKE
Zoning & alternative use
L-1 · Willoughby, OH
Zoning 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
Willoughby. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$845,000
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
1986
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.05 ac
Current owner
From public records · entity-resolved
Fremont Company An Ohio Corp For Pr
Entity
Free & Clear · 2 yrs held
Mailing address
802 N FRNT ST, FREMONT, OH 43420-1917
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2023
$1,351,300
Fremont Company An Ohio Corp For Pr
Anderson Brothers Prop Co LLC An Oh
Warranty Deed
—
Jun 22, 2015
—
Anderson Brothers Prop Co LLC
Anderson Brothers Property Co
Quit Claim Deed
related
—
May 31, 2011
$210,000
Anderson Brothers Property Co
Sheriff Of Lake County
Trustees Deed
related
—
—
—
A Russo
—
Deed Of Trust
related
$155,000 · Great Lakes Bank
—
—
Russo Anthony C Tr
—
Deed Of Trust
related
$65,000 · Sky Bank
—
—
Paula M Fetsko-russo
—
Deed Of Trust
related
$100,000 · Great Lakes Bank
—
—
Anthony C Russo Trustee
—
Deed Of Trust
related
$30,000 · Great Lakes Bank
—
—
Anderson Brothers Property Co
—
Deed Of Trust
related
$290,000 · Pnc 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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