Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    38700 Pelton Rd Willoughby, OH 44094-7745
    Back to Search
    Property profile & analytics

    38700 Pelton Rd, Willoughby, OH 44094-7745

    View on Map
    • Warehouses
    • 5,700 SF
    • 0.74 lot acres
    Off-Market
    Last Sale Jun 4, 2024
    $600,000
    Property ID
    US66-1483613
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    4.4%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Big Oats / Factory / Production Facility

    Property Details for 38700 Pelton Rd

    Year built
    1954
    Lot size
    0.74 lot acres
    Zone code
    C-M
    Property type
    Warehouses
    APN
    27-B-039-A-00-008-0
    APU
    27B039A000080

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 4, 2024 $600,000 Pelton LLC Daniels Bros Fuel Co Limited Warranty Deed $360k · Daniels Bros Fuel Co
    Apr 15, 2003 — Daniel Bros Fuel Co Northeastern Road Improvement Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $600,000
      ML approach
      $600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $445,000
      6.5%
      $410,000
      7%
      $380,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $815,000
      AUTO REPAIR, GARAGE
      $480,000
      COMMERCIAL (GENERAL)
      $460,000
      RETAIL STORES
      $445,000
      MEDICAL BUILDING
      $400,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Willoughby
    County
    Lake
    State
    Ohio
    Longitude
    -81.3938
    Latitude
    41.6457
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,647
    $19,850
    $8,110
    $27,960
    -
    $56,700
    $23,180
    $79,880

    Comparable in this City

    • Value Estimation
      $670,000
      12,000 SF

      36470 Biltmore Pl

      WAREHOUSE, STORAGE
      36470 Biltmore Pl, Willoughby, OH 44094-8233
      View Details
    • Value Estimation by Request
      4,900 SF

      38001 Stevens Blvd

      MINI-WAREHOUSE, STORAGE
      38001 Stevens Blvd, Willoughby, OH 44094-6237
      View Details
    • Value Estimation by Request
      11,487 SF

      37849 Vine St

      WAREHOUSE, STORAGE
      37849 Vine St, Willoughby, OH 44094-6241
      View Details
    • Value Estimation
      $505,000
      22,720 SF

      4750 Beidler Rd

      WAREHOUSE, STORAGE
      4750 Beidler Rd, Willoughby, OH 44094-4660
      View Details
    • Value Estimation
      $775,000
      17,784 SF

      36650 Biltmore Pl

      WAREHOUSE, STORAGE
      36650 Biltmore Pl, Willoughby, OH 44094-8225
      View Details
    • Value Estimation
      $500,000
      9,240 SF

      8620 Euclid Chardon Rd

      MINI-WAREHOUSE, STORAGE
      8620 Euclid Chardon Rd, Kirtland, OH 44094-9586
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,700 SF

      Willoughby Retail/Industrial Building For Sale

      3,700 SF retail/industrial building near Downtown Willoughby.
      37930 2Nd St, Willoughby, OH 44094
      View Details
    • Contact for pricing
      14,533 SF

      Two-Building Industrial Property For Sale

      Two buildings on 1.38 acres with warehouse and office space.
      4421-4429 Hamann Pkwy, Willoughby, OH 44094
      View Details
    • $995,000
      7,200 SF

      Mixed-Use Investment in Willoughby Hills

      Mixed-use property with residential, commercial, and loft spaces.
      37931 Vine St, Willoughby Hills, OH 44094
      View Details
    • Contact for pricing
      10,480 SF

      Willoughby Warehouse on Western Parkway

      10,480 sq ft warehouse in Willoughby, Ohio for sale.
      38227 Western Pkwy, Willoughby, OH 44094
      View Details
    • Contact for pricing
      17,526 SF

      Office, Garage, and Storage Buildings

      Three buildings on 2.74 acres with secure, fenced yard.
      37401 Stevens Blvd, Willoughby, OH 44094
      View Details
    • Contact for pricing
      56,181 SF

      Willoughby Industrial Facility with Heavy Power

      56,181 SF industrial building on 7.5 acres for sale.
      4803 E 345Th St, Willoughby, OH 44094
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Office/Warehouse/Light Industrial Building

      Clean 10,480 SF building with expansion potential on 1.60 acres.
      38227 Western Pkwy, Willoughby, OH 44094
      View Details
    • Contact for pricing
      10,480 SF

      Freestanding Office/Warehouse/Light Industrial Building

      Clean 10,480 SF building near State Route 2 Freeway.
      38227 Western Pkwy, Willoughby, OH 44094
      View Details
    • $3,550 /Mo
      45,738 SF

      Willoughby Commercial Space For Lease

      Industrial and office space available in Willoughby with gated parking.
      38316 Airport Pkwy, Willoughby, OH 44094
      View Details
    • Contact for pricing
      3,075 SF

      Vine Street Suites Available

      Office and warehouse suites for lease with utilities included.
      36615-36625 Vine St, Willoughby, OH 44094
      View Details
    • Contact for pricing

      Willoughby Flex Space Opportunity

      Flexible building layouts available in Willoughby, Ohio.
      38601 Kennedy Pkwy, Willoughby, OH 44094
      View Details
    • Contact for pricing
      28,840 SF

      Industrial Land with Development Potential

      Available land for industrial development with flexible building options.
      1397 Lost Nation Rd, Willoughby, OH 44094
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    38700 Pelton Rd
    Willoughby, OH 44094-7745
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    38700 Pelton Rd, Willoughby, OH, 44094
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!