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Property profile & analytics
OFF-MARKET
Estimated value
$275,000
Flex space
38287 Airport Pkwy Willoughby, OH 44094-8066
Trust Owned
13-yr Hold
Free & Clear
Property ID
US66-2756708
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2002
Total area
16,954 SF
Lot
1.05 ac (45,738 SF)
Zoning code
L-1
APN
27-B-050-F-00-037-0
UPID
US66-2756708
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
-
Z-Upholstery & Sewing Inc Furniture & Home Goods
-
Proforma Sterling Media Advertising Agency Marketing & Advertising
-
Hunter Engine & Auto Repair Auto Repair Shop
-
Handyman Solutions440 LLC Hardware & Home Improvement General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$275k
Owner & transaction history
Morgan Carol A Trust · 13 yrs held
Morgan Carol A Trust
since 2012
3 recorded transactions
Zoning & alternative use
L-1 · Willoughby, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
1131.02 USE REGULATIONS.
Top alternative use upside
Office building
$1.0M
+20.3%
Warehouse, storage
$940,000
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$840,000
Current use
OFFICE BUILDING
$1,010,000
Change: +20% · Conversion: Difficult
WAREHOUSE, STORAGE
$940,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$275k
Range $248k – $303k · ±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
$16 / 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
$16,434
Tax year 2023
Assessed value
$200,980
Assessed 2023
Previous assessed
$200,980
+0.0% YoY
Effective rate
8.18%
On assessed value
Assessed land
$31,260
Assessed improvement
$169,720
Land market value
$89,300
Improvement market value
$484,920
Total market value
$574,220
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
2002
Heating
FORCED AIR
Stories
1
Total area
16,954 SF
Lot
1.05 ac (45,738 SF)
Zoning code
L-1
APN
27-B-050-F-00-037-0
UPID
US66-2756708
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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$840,000
OFFICE BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$940,000
INDUSTRIAL (GENERAL) Current
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
2002
Heating
FORCED AIR
Stories
1
Lot
1.05 ac
Current owner
From public records · entity-resolved
Morgan Carol A Trust
Trust
Free & Clear · 13 yrs held
Mailing address
4068 CLARK AVE, WILLOUGHBY, OH 44094-6152
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2012
—
Morgan Carol A Trust
Morgan,dennis M & Carol A
Quit Claim Deed
related
—
Apr 8, 2004
—
Morgan Carol A Trust
Morgan,dennis M & Carol A
Quit Claim Deed
related
—
Sep 20, 1999
$100,000
Dennis M Morgan
Rush,michale E
Grant Deed
—
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
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