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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6116 Speedway Dr Seville, OH 44273-8829

    • Motels
    • 19,642 SF
    • 1.57 lot acres
    OFF-MARKET
    Value Estimations
    $535,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6226969
    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.

    Current Use by Public Records

    • Super 8 by Wyndham Seville / Inn / Motel
    • Ohio laboratories / Laboratory
    • Forever blueberry farm / Tourist Attraction

    Property Details for 6116 Speedway Dr

    Year built
    1999
    Construction
    WOOD
    Lot size
    1.57 lot acres
    Property size
    19,642 SF
    Property type
    Motels
    APN
    041-15B-44-005
    APU
    04115B44005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seville
    County
    Medina
    State
    Ohio
    Longitude
    -81.9098
    Latitude
    41.0309
    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
    $15,468
    $95,960
    $248,740
    $344,700
    -
    $274,160
    $710,680
    $984,840

    Comparable in this City

    • Value Estimation
      $2,805,000
      16,872 SF

      4949 Park W Ave

      MOTEL • 16,872 SF
      4949 Park W Ave, Seville, OH 44273-9313
      View Details
    • Value Estimation
      $1,200,000
      41,527 SF

      5025 Park W Ave

      HOTEL • 41,527 SF
      5025 Park W Ave, Seville, OH 44273-8917
      View Details
    • Value Estimation by Request
      12.87 Acres

      100 Executive Dr

      Land • 12.87 Acres
      100 Executive Dr, Seville, OH 44273
      View Details
    • Value Estimation by Request
      0.49 Acres

      Eastlake Rd

      COMMERCIAL (GENERAL) • 0.49 Acres
      Eastlake Rd, Seville, OH 44273
      View Details
    • Value Estimation by Request
      0.22 Acres

      Market St

      VACANT COMMERCIAL LAND • 0.22 Acres
      Market St, Seville, OH 44273
      View Details
    • Value Estimation by Request
      1.97 Acres

      220 Ryan Rd

      INDUSTRIAL - VACANT LAND • 1.97 Acres
      220 Ryan Rd, Seville, OH 44273-8883
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15.21 Acres

      Seville, OH: 15-Acre Mixed-Use Land

      Prime Seville location, high traffic counts, mixed-use zoning.
      595 Center St, Seville, OH 44273
      View Details
    • Contact for pricing
      1.00 Acre

      Seville Commercial Land - 3.93 Acres

      Prime Retail Development Site, High Traffic
      360 Center St, Seville, OH 44273
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    • $2,100,000
      105.00 Acres

      Seville, OH Commercial Land - 105 Acres

      Prime Commercial Land, Redevelopment Opportunity
      5669 Greenwich Rd, Seville, OH 44273
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    • Contact for pricing
      15 SF

      Seville Land Parcel on Route 3

      15.21-acre site with highway access and mixed-use zoning.
      595 Center St, Seville, OH 44273
      View Details
    • Contact for pricing

      Wooster Pike Restaurant Opportunity

      Freestanding building with drive-thru.
      8750 Wooster Pike Rd, Seville, OH 44273
      View Details
    • $599,900
      8.53 Acres

      Seville Commercial Land - 8.53 Acres

      Prime Seville development land, city utilities.
      0 Greenwich Rd, Seville, OH 44273
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      14,386 SF

      Retail Spaces in Homestead Plaza

      Two retail spaces available for lease in visible Homestead Plaza.
      205 Center St, Seville, OH 44273
      View Details
    • $16 SF/Yr
      3,000 SF

      Homestead Plaza Retail Space Available

      High-visibility retail space, Medina County.
      205 Center St, Seville, OH 44273
      View Details
    • $4 SF/Yr
      13,060 SF

      Industrial Space with Highway Access

      Industrial property for lease with highway access and ample parking.
      5180 Greenwich Rd, Seville, OH 44273
      View Details
    • $12 SF/Yr
      3,000 SF

      Retail Space in Homestead Plaza

      Retail space available in Homestead Plaza with high visibility.
      205-255 Center St, Seville, OH 44273
      View Details
    • $1,100 /Mo
      1,275 SF

      Retail Space in Seville, OH

      Retail space available for lease in Seville, Ohio.
      131-133 Greenwich Rd, Seville, OH 44273
      View Details
    • Contact for pricing
      3,631 SF

      Wooster Pike Retail Opportunity

      Freestanding Restaurant, Drive-Thru Available
      8750 Wooster Pike Rd, Seville, OH 44273
      View Details
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    6116 Speedway Dr
    Seville, OH 44273-8829
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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.

    More about this property
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