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Property profile & analytics
OFF-MARKET
Estimated value
$1,180,000
Office buildings
4741 Hinckley Industrial Pkwy Cleveland, OH 44109-6004
Entity Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-1571437
Property summary
AI-generated overview
This exceptional 28,619-square-foot climate-controlled manufacturing/distribution/flex building in Cleveland's Brooklyn Heights submarket offers a turnkey solution for businesses seeking modern amenities. Built in 1988 and extensively renovated in 2023, the property features 21-foot ceilings, three dock-high doors, one drive-in door, and 36 parking spaces. The building boasts ample power (3-phase, 400 amp, 480V) and is zoned SI Semi-Industry. Its strategic location on 3.97 acres at 4741 Hinckley Industrial Pkwy provides easy access to Cleveland Hopkins Airport, local rail yards, and major highways. The property is currently vacant and ready for immediate occupancy. Taxes are $2.65 per square foot. The building is equipped with two crane bays featuring four 5-ton cranes. This property presents a rare opportunity to acquire a fully equipped, climate-controlled industrial space in a prime Cleveland location. The APN is 010-29-010, and the zip code is 44109.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
TYPE NOT SPECIFIED
Total area
5,641 SF
Lot
3.97 ac (173,086 SF)
Zoning code
SI
APN
010-29-010
UPID
US66-1571437
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
-
Cleveland Building Supply Electrical Service
-
Wesco Distribution Inc Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$725k
CAP Approach
CAP
$1.26M
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.18M
Owner & transaction history
Wesco Real Estate I LLC · 23 yrs held
Wesco Real Estate I LLC
since 2003
1 recorded transaction
Zoning & alternative use
SI · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$950,000
+4.3%
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 Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland 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
$725,000
CAP Approach
CAP Return
Estimation
6%
$1,365,000
6.5%
$1,260,000
7%
$1,170,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$910,000
Current use
RESTAURANT
$950,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$1.18M
Range $1.06M – $1.30M · ±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
$209 / 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
$76,027
Tax year 2023
Assessed value
$761,250
Assessed 2023
Previous assessed
$433,480
+75.6% YoY
Effective rate
9.99%
On assessed value
Assessed land
$86,380
Assessed improvement
$674,870
Land market value
$246,800
Improvement market value
$1,928,200
Total market value
$2,175,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
5,641 SF
Lot
3.97 ac (173,086 SF)
Zoning code
SI
APN
010-29-010
UPID
US66-1571437
Jurisdiction
CUYAHOGA
Zoning & alternative use
SI · Cleveland, OH
Zoning SI · permitted uses
SI · Cleveland, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$910,000
RESTAURANT
Est. value
$950,000
OFFICE BUILDING Current
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
1988
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
3.97 ac
Current owner
From public records · entity-resolved
Wesco Real Estate I LLC
Entity
Mailing address
4942 SCHAAF LN, BROOKLYN HEIGHTS, OH 44131-1008
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
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
Mar 7, 2003
—
Wesco Real Estate I LLC
Cdw Realco INC
Grant Deed
$12,430,000 · Bear Stearns Commercial Mtg
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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