Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,055,000
Warehouses
5147 Mls Industrial Pkwy North Ridgeville, OH 44039-1957
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-2614670
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1994
Total area
8,800 SF
Lot
1.99 ac (86,684 SF)
APN
07-00-018-101-238
UPID
US66-2614670
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
$810k
CAP Approach
CAP
$1.29M
Comparable Approach
Comparable
$885k
Blend (final)
Blend
$1.06M
Owner & transaction history
Mtp Properties Nr LLC · 4 yrs held
Mtp Properties Nr LLC
since 2021
Last sale
$1.1M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+62.6%
Medical building
$820,000
+4.6%
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 North Ridgeville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Ridgeville 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
$780,000
ML approach
$810,000
CAP Approach
CAP Return
Estimation
6%
$1,395,000
6.5%
$1,290,000
7%
$1,200,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$785,000
Current use
RESTAURANT
$1,275,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$820,000
Change: +5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$725,000
Change: -8% · Conversion: Easy
OFFICE BUILDING
$720,000
Change: -8% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$680,000
Change: -13% · Conversion: Moderate
COMMERCIAL (GENERAL)
$645,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $950k – $1.16M · ±10% · vs last sale $1.05M (Jul 20 2021)
Last sale anchor
$1.05M
Jul 20 2021
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
$120 / 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
$11,392
Tax year 2023
Assessed value
$165,193
Assessed 2023
Previous assessed
$165,190
+0.0% YoY
Effective rate
6.90%
On assessed value
Assessed land
$33,593
Assessed improvement
$131,600
Land market value
$95,980
Improvement market value
$376,000
Total market value
$471,980
Applied tax rate
50.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1994
Heating
NONE
Buildings
2
Stories
1
Units
1
Total area
8,800 SF
Lot
1.99 ac (86,684 SF)
APN
07-00-018-101-238
UPID
US66-2614670
Jurisdiction
LORAIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$785,000
RESTAURANT
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$820,000
AUTO REPAIR, GARAGE
Est. value
$725,000
OFFICE BUILDING
Est. value
$720,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$680,000
COMMERCIAL (GENERAL)
Est. value
$645,000
WAREHOUSE, STORAGE Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1994
Heating
NONE
Stories
1
Buildings
2
Units
1
Lot
1.99 ac
Current owner
From public records · entity-resolved
Mtp Properties Nr LLC
Entity
Mailing address
24913 ELECTRIC DR, BAY VILLAGE, OH 44140-2720
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2022
—
Mtp Properties Nr LLC
—
Deed
related
$1,850,000 · Live Oak Banking Company
Jul 20, 2021
$1,050,000
Mtp Properties Nr LLC
Tillery Holdings LLC
Warranty Deed
$892,500 · Live Oak Banking Company
Mar 6, 2020
—
Tillery Holdings LLC
—
Deed
related
$1,188,200 · Peoples Bank
Jun 2, 2005
—
Tillery Holding LLC
Tillery,john P
Quit Claim Deed
related
$300,000 · Geauga Savings Bank
Aug 29, 2003
$193,500
John P Tillery
Mutschler,tr
Grant Deed
$153,500 · Mutschler Trust
—
—
Tillery Holdings LLC
—
Deed Of Trust
related
$519,600 · Us Bk
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5147 Mls Industrial Pkwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
