Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Residential income homes
7022 State Rd Parma, OH 44134-4972
Entity Owned
22-yr Hold
Absentee Owner
Property ID
US66-0126775
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1950
Construction
TYPE NOT SPECIFIED
Total area
3,920 SF
Lot
1.14 ac (49,470 SF)
Zoning code
SF-AA
APN
450-26-005
UPID
US66-0126775
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
$411k
Blend (final)
Blend
$565k
Owner & transaction history
Development Emerald · 22 yrs held
Development Emerald
since 2003
2 recorded transactions
Zoning & alternative use
SF-AA · Parma, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$635,000
+118.6%
Medical building
$425,000
+46.9%
Neighborhood: shopping center
$395,000
+36.9%
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
OFFICE BUILDING
$635,000
Change: +119% · Conversion: Moderate
MEDICAL BUILDING
$425,000
Change: +47% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$395,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$350,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$144 / 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
$249
Tax year 2023
Assessed value
$130,070
Assessed 2023
Previous assessed
$130,070
+0.0% YoY
Effective rate
0.19%
On assessed value
Assessed land
$24,750
Assessed improvement
$105,320
Land market value
$70,700
Improvement market value
$300,900
Total market value
$371,600
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1950
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
NONE
Stories
2
Units
4
Bathrooms
4
Total area
3,920 SF
Lot
1.14 ac (49,470 SF)
Zoning code
SF-AA
APN
450-26-005
UPID
US66-0126775
Jurisdiction
CUYAHOGA
Zoning & alternative use
SF-AA · Parma, OH
Zoning SF-AA · permitted uses
SF-AA · Parma, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Parma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$635,000
MEDICAL BUILDING
Est. value
$425,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$395,000
AUTO REPAIR, GARAGE
Est. value
$350,000
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1950
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
4
Bathrooms
4
Lot
1.14 ac
Current owner
From public records · entity-resolved
Development Emerald
Entity
Mailing address
7812 MADISON AVE, CLEVELAND, OH 44102-4056
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2003
$258,500
Development Emerald
Friars Minor Of Order St Franc
Grant Deed
$258,500 · Firstmerit Bank NA
—
—
Emerald Dev & Economic Network
—
Deed Of Trust
related
$750,000 · Housing Fin Agcy
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 7022 State 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.
