Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8989 Lake Rd Seville, OH 44273
    Property profile & analytics

    8989 Lake Rd Seville, OH 44273

    View on Map
    • Warehouses
    • 452,520 SF
    • 39.04 lot acres
    For Sale
    $3,455,000
    View Listing →
    Turnkey Cross-Dock Warehouse Facility For Sale
    $3,455,000
    140,314 SF

    Turnkey Cross-Dock Warehouse Facility

    140,314 SF cross-dock facility with ample parking.

    8989 Lake Rd, Seville, OH
    View Listing
    Property ID
    US66-2222266
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 8989 Lake Rd

    Year built
    2022
    Lot size
    39.04 lot acres
    Property size
    452,520 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    041-15B-44-025
    APU
    04115B44025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,315,000
      ML approach
      $3,665,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seville
    County
    Medina
    State
    Ohio
    Longitude
    -81.9041
    Latitude
    41.0285
    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
    $313,945
    $1,553,870
    $5,474,510
    $7,028,380
    -
    $4,439,620
    $15,641,460
    $20,081,080

    Comparable in this City

    • Value Estimation by Request
      72 SF

      Seville, OH 44273

      MINI-WAREHOUSE, STORAGE • 72 SF
      Seville, OH 44273
      View Details
    • Value Estimation by Request
      4,080 SF

      109 Greenwich Rd

      MINI-WAREHOUSE, STORAGE • 4,080 SF
      109 Greenwich Rd, Seville, OH 44273
      View Details
    • Value Estimation
      $575,000
      4,040 SF

      5730 Greenwich Rd, Unit 5744

      MINI-WAREHOUSE, STORAGE • 4,040 SF
      5730 Greenwich Rd, Seville, OH 44273-8834
      View Details
    • Value Estimation
      $610,000
      11,360 SF

      5065 Park W Ave

      MINI-WAREHOUSE, STORAGE • 11,360 SF
      5065 Park W Ave, Seville, OH 44273-8917
      View Details
    • Value Estimation by Request
      7,004 SF

      350 Ryan Rd

      MINI-WAREHOUSE, STORAGE • 7,004 SF
      350 Ryan Rd, Seville, OH 44273-9109
      View Details
    • Value Estimation by Request
      1,994 SF

      7171 Wooster Pike

      MINI-WAREHOUSE, STORAGE • 1,994 SF
      7171 Wooster Pike, Seville, OH 44273
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      450,112 SF

      Turnkey Cross-Dock Warehouse Facility

      140,314 SF cross-dock facility with ample parking.
      8989 Lake Rd, Seville, OH 44273
      View Details
    • $324,500
      14.50 Acres

      Seville, OH Vacant Land

      14.5-acre vacant lot near Chippewa Lake.
      37 Buffham Rd, Seville, OH 44273
      View Details
    • Contact for pricing

      Retail Development Outparcel Site

      Up to 3.93 AC retail development site for sale.
      360 Center St, Seville, OH 44273
      View Details
    • Contact for pricing

      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

      15.21 Acre Site in Seville

      15.21 acre site with versatile zoning near Interstate 76.
      595 Center St, Seville, OH 44273
      View Details
    • Contact for pricing

      Freestanding Building with Drive-Thru

      3,631 SF freestanding building with drive-thru available for sale.
      8750 Wooster Pike Rd, Seville, OH 44273
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      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
    • $4 SF/Yr
      106,000 SF

      Seville Warehouse Space Available

      106,000 SF warehouse space for lease in Seville, Ohio.
      286 West Greenwich Rd, Seville, OH 44273
      View Details
    • Contact for pricing
      1,100,000 SF

      102 Acre Site Near I-76

      102 acre site with immediate I-76 interchange access.
      Wooster Pike 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
    • $9 SF/Yr

      Retail/Office Space in Seville

      Single-story building with open layout, excellent visibility, and ample parking.
      133 Greenwich Rd, Seville, OH 44273
      View Details
    • $10 SF/Yr

      Retail Spaces in Homestead Plaza

      Two retail spaces available for lease in visible Homestead Plaza.
      205 Center St, Seville, OH 44273
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8989 Lake Rd
    Seville, OH 44273
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8989 Lake Rd, Seville, OH, 44273
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!