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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Flex space
38228 Western Pkwy, Willoughby, OH 44094-7590
Individually Owned
8-yr Hold
Free & Clear
Property ID
US66-1666420
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1988
Total area
12,462 SF
Lot
1.12 ac (48,787 SF)
Zoning code
L-1
APN
27-B-053-B-00-031-0
UPID
US66-1666420
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
-
Precision Machining Institute Industrial Manufacturer Factory
-
Heisler Tool Co Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$361k
Blend (final)
Blend
$555k
Owner & transaction history
Susan J Mccord · 8 yrs held
Susan J Mccord
since 2017
1 recorded transaction
Zoning & alternative use
L-1 · Willoughby, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$875,000
+42.3%
Office building
$740,000
+20.3%
Warehouse, storage
$690,000
+12.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$800,000
6.5%
$740,000
7%
$685,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$615,000
Current use
MEDICAL BUILDING
$875,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$740,000
Change: +20% · Conversion: Difficult
WAREHOUSE, STORAGE
$690,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$555k
Range $500k – $611k · ±10%
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
$45 / 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
$17,376
Tax year 2023
Assessed value
$212,500
Assessed 2023
Previous assessed
$212,500
+0.0% YoY
Effective rate
8.18%
On assessed value
Assessed land
$32,320
Assessed improvement
$180,180
Land market value
$92,350
Improvement market value
$514,800
Total market value
$607,150
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
1988
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
12,462 SF
Lot
1.12 ac (48,787 SF)
Zoning code
L-1
APN
27-B-053-B-00-031-0
UPID
US66-1666420
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
INDUSTRIAL (GENERAL) Current
Est. value
$615,000
MEDICAL BUILDING
Est. value
$875,000
OFFICE BUILDING
Est. value
$740,000
WAREHOUSE, STORAGE
Est. value
$690,000
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1988
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
1.12 ac
Current owner
From public records · entity-resolved
Susan J Mccord
Individual
Free & Clear · 8 yrs held
Mailing address
10600 ALYSSA CT, CONCORD TOWNSHIP, OH 44077-8977
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2017
—
Susan J Mccord
Mccord Susan J Trust
Quit Claim Deed
related
—
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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