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Property profile & analytics
OFF-MARKET
Estimated value
$1,730,000
Grocery and convenience stores
8368 Washington St Chagrin Falls, OH 44023-4510
Individually Owned
2-yr Hold
Free & Clear
Property ID
US66-2342417
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2022
Total area
19,966 SF
Lot
4.47 ac (194,713 SF)
APN
02-292860
UPID
US66-2342417
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
$1.75M
CAP Approach
CAP
$1.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.73M
Owner & transaction history
Steven C Hakes · 2 yrs held
Steven C Hakes
since 2023
Last sale
$1.8M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+32.3%
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 Chagrin Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chagrin Falls 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
$1,660,000
ML approach
$1,750,000
CAP Approach
CAP Return
Estimation
6%
$1,320,000
6.5%
$1,220,000
7%
$1,130,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,960,000
Current use
COMMERCIAL (GENERAL)
$2,590,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$1.73M
Range $1.56M – $1.90M · ±10% · vs last sale $1.76M (Sep 28 2023)
Last sale anchor
$1.76M
Sep 28 2023
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
$87 / 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
$12,705
Tax year 2023
Assessed value
$168,020
Assessed 2023
Previous assessed
$58,100
+189.2% YoY
Effective rate
7.56%
On assessed value
Assessed land
$168,020
Land market value
$480,070
Total market value
$480,070
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2022
Heating
NONE
Stories
1
Total area
19,966 SF
Lot
4.47 ac (194,713 SF)
APN
02-292860
UPID
US66-2342417
Jurisdiction
GEAUGA
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
RETAIL STORES Current
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RETAIL STORES Current
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
2022
Heating
NONE
Stories
1
Lot
4.47 ac
Current owner
From public records · entity-resolved
Steven C Hakes
Individual
Free & Clear · 2 yrs held
Mailing address
921 W QUINCE ST, SAN DIEGO, CA 92103-6016
Ownership since
2023
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
Sep 28, 2023
$1,755,000
Steven C Hakes
Voh Bainbridge Township LLC
Limited Warranty Deed
—
Aug 2, 2022
—
Voh Bainbridge Township LLC
Voh Bainbridge Township LLC
Intrafamily Transfer
related
—
Jul 29, 2022
$480,000
Voh Bainbridge Township LLC
Cheryl L Lombardo
Warranty Deed
$2,780,000 · The Huntington National Bank
—
—
Joseph A Lombardo
—
Deed Of Trust
related
$800,000 · First National Bank Ohio
—
—
Cheryl Lombardo
—
Deed Of Trust
related
$200,000 · First National Bank Ohio
—
—
Cheryl Lombardo
—
Deed Of Trust
related
$800,000 · Firstmerit Bank NA
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.
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