Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$305,000
Medical Office Space
5850 Rdg Rd Parma, OH 44129-3169
Entity Owned
1-yr Hold
Free & Clear
Property ID
US66-1959536
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1954
Construction
TYPE NOT SPECIFIED
Total area
10,561 SF
Lot
0.5 ac (21,600 SF)
Zoning code
RB
APN
449-04-021
UPID
US66-1959536
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$305k
Owner & transaction history
New Westlake LLC · 1 yrs held
New Westlake LLC
since 2025
6 recorded transactions
Zoning & alternative use
RB · Parma, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Protect adjacent residential properties by restricting the type of business uses, particularly at the common boundaries, which would create hazards, noise, odors or other objectionable influences
Zone name
Retail Business
General category
COMMERCIAL
Zone area
506.77 ac
Source
Realmo
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 Parma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Parma 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
MEDICAL BUILDING
$1,150,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,070,000
Change: -7% · Conversion: Difficult
OFFICE BUILDING
$955,000
Change: -17% · Conversion: Easy
AUTO REPAIR, GARAGE
$940,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$305k
Range $275k – $336k · ±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
$29 / 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
$25,406
Tax year 2023
Assessed value
$301,320
Assessed 2023
Previous assessed
$301,320
+0.0% YoY
Effective rate
8.43%
On assessed value
Assessed land
$30,240
Assessed improvement
$271,080
Land market value
$86,400
Improvement market value
$774,500
Total market value
$860,900
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1954
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
10,561 SF
Lot
0.5 ac (21,600 SF)
Zoning code
RB
APN
449-04-021
UPID
US66-1959536
Jurisdiction
CUYAHOGA
Zoning & alternative use
RB · Parma, OHZoning RB · permitted uses
RB · Parma, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Protect adjacent residential properties by restricting the type of business uses, particularly at the common boundaries, which would create hazards, noise, odors or other objectionable influences
Zone name
Retail Business
General category
COMMERCIAL
Zone area
506.77 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
OFFICE BUILDING
Est. value
$955,000
AUTO REPAIR, GARAGE
Est. value
$940,000
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1954
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
0.5 ac
Current owner
From public records · entity-resolved
New Westlake LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 40, BATH, OH 44210-0040
Ownership since
2025
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
Apr 30, 2025
—
New Westlake LLC
Myers Property Number One LLC
Warranty Deed
—
Mar 25, 2025
$1,175,000
New Westlake LLC
Myers Property Number One LLC
Warranty Deed
—
Jan 10, 2018
—
Myers Property 1 LLC
—
Deed
related
$400,000 · Pnc Bk
Aug 15, 2014
$450,000
Myers Property Number 1 LLC
Parma Cmnty Improvement Corp
Grant Deed
—
Nov 20, 2013
—
Parma Cmnty Improvement Corp
City Of Parma
Quit Claim Deed
related
—
—
—
Myers Property 1 LLC
—
Deed Of Trust
related
$400,000 · Pnc 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 5850 Rdg Rd?
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.
