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    6085 Enterprise Pkwy Solon, OH 44139-2754
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    Property profile & analytics

    6085 Enterprise Pkwy, Solon, OH 44139-2754

    View on Map
    • Hotels
    • 61,348 SF
    • 3.17 lot acres
    Off-Market
    Last Sale Jun 23, 2023
    $7,500,000
    Property ID
    US66-0326805
    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
    $7,225,000
    Show details
    Cap Rate Potential
    4.4%
    Hotels
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 6085 Enterprise Pkwy

    Year built
    2001
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.17 lot acres
    Zone code
    C-5
    Property type
    Hotels
    APN
    953-39-015
    APU
    95339015

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 23, 2023 $7,500,000 Wscdel 103 LLC Kre Hip Wood Cleveland Owner LLC Limited Warranty Deed $6.3M · The Croghan Colonial Bank
    Oct 18, 2021 $8,952,000 Kre Hip Wood Cleveland Owner LLC Ihp Solon Oh Owner LLC Limited Warranty Deed —
    Oct 18, 2021 — Ihp I Ops LLC Ihp Splon Oh Owner LLC Lease —
    Jun 15, 2017 — Ihp Solon Oh Owner LLC — Grant Deed · related $1,560M · Column Fin'l
    Dec 3, 2014 $10,691,697 Ihp Solon Oh Owner LLC Ia Orchard Hotels Solon LLC Grant Deed · related $615M · Bank Of America
    Jan 8, 2008 — Ia Orchard Hotels Solon LLC Inland American Orchard Hotels Grant Deed $344.9M · Bank Of America
    Sep 12, 2003 $66,150 Apple Hospitality Five INC Solon Hotel LLC Grant Deed —
    — — Solon Hotel II LLC — Deed Of Trust · related $6.1M · First Niagara Funding INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,005,000
      ML approach
      $6,890,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,130,000
      6.5%
      $4,735,000
      7%
      $4,395,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $6,720,000
      Current use
      RESTAURANT
      $10,350,000
      Change: +54% Conversion: Difficult
      OFFICE BUILDING
      $8,860,000
      Change: +32% Conversion: Difficult
      MEDICAL BUILDING
      $6,665,000
      Change: -1% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $6,215,000
      Change: -7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,460,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Solon
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4632
    Latitude
    41.3936
    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
    $266,019
    $229,990
    $2,690,170
    $2,920,160
    -
    $657,100
    $7,686,200
    $8,343,300

    Comparable in this City

    • Value Estimation
      $3,780,000
      67,200 SF

      6040 Enterprise Pkwy

      HOTEL
      6040 Enterprise Pkwy, Solon, OH 44139-2753
      View Details
    • Value Estimation
      $5,060,000
      72,104 SF

      30050 Aurora Rd

      HOTEL
      30050 Aurora Rd, Solon, OH 44139-2751
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    • Value Estimation
      $3,880,000
      58,062 SF

      6035 Enterprise Pkwy

      HOTEL
      6035 Enterprise Pkwy, Solon, OH 44139-2754
      View Details
    • Value Estimation by Request
      3.65 Acres

      Cochran Rd

      CAMPGROUND, RV PARK
      Cochran Rd, Glenwillow, OH 44139
      View Details
    • Value Estimation by Request
      655 SF

      7272 Austin Powder Dr

      CAMPGROUND, RV PARK
      7272 Austin Powder Dr, Solon, OH 44139-4386
      View Details
    • Value Estimation by Request
      0.00 Acres

      33165 Solon Rd Ste, Unit 201

      INDUSTRIAL - VACANT LAND
      33165 Solon Rd Ste, Solon, OH 44139-2863
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      102,990 SF

      Renovated Industrial Property with Parking

      Renovated industrial property featuring docks, drive-in access, and ample parking.
      6675 Parkland Blvd, Solon, OH 44139
      View Details
    • Contact for pricing

      Two-Story Office Complex For Sale

      Two-story office complex with five tenants and updated features.
      30670 Bainbridge Rd, Solon, OH 44139
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      250-Acre Master Planned Business Park

      Sites available in a 250-acre master-planned business park.
      Pettibone Rd, Glenwillow, OH 44139
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      2,500 SF

      Retail Space For Sale

      Retail space with long lease term and 8.75% cap rate.
      33113 Aurora Rd, Solon, OH 44139
      View Details
    • Contact for pricing
      0.17 Acres

      Residential Land in Solon, OH

      Buildable residential land in a desirable Solon neighborhood.
      Willow St, Solon, OH 44139
      View Details
    • $110,000
      4.60 Acres

      Residential Lot in Solon, Ohio

      4.6-acre residential lot in Solon, OH, build your dream home.
      V/L Bainbridge Rd, Solon, OH 44139
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Cochran Road Commercial Property

      Commercial property available for rent on Cochran Road.
      6551-6573 Cochran Rd, Solon, OH 44139
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office property available for rent at 31500 Bainbridge Road.
      31500 Bainbridge Rd, Solon, OH 44139
      View Details
    • Contact for pricing
      3,664 SF

      Freestanding Retail Space Available

      3,664 SF freestanding retail space in Solon, Ohio.
      6465 Som Center Rd, Solon, OH 44139
      View Details
    • Contact for pricing
      11,280 SF

      Flex Space on Cochran Road

      High-visibility flex space with easy highway access in Solon, OH.
      6161 Cochran Rd, Solon, OH 44139
      View Details
    • Contact for pricing
      30,600 SF

      Retail Space in Solon Square

      Retail space available in Solon Square shopping center.
      33313-33437 Aurora Rd, Solon, OH 44139
      View Details
    • Contact for pricing
      4,318 SF

      Solon Mixed-Use Building for Lease

      Prime Solon location suitable for medical, professional offices, and retail.
      33790 Bainbridge Rd, Solon, OH 44139
      View Details
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    Solon, OH 44139-2754
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    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.

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