Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    Wright Willoughby, OH 44094

    • Residential income homes
    • 3,746 SF
    OFF-MARKET
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2825858
    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

    • Residential income homes

    Property Details for Wright

    Year built
    1930
    Construction
    WOOD
    Property size
    3,746 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    27-A-024-0-00-009-B
    APU
    27A024000009B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $225,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Willoughby
    County
    Lake
    State
    Ohio
    Longitude
    -81.4095
    Latitude
    41.6344
    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
    $3,481
    $0.00
    $36,770
    $36,770
    -
    $0.00
    $105,060
    $105,060

    Comparable in this City

    • Value Estimation
      $225,000
      4,822 SF

      9047 Chillicothe Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,822 SF
      9047 Chillicothe Rd, Willoughby, OH 44094-9261
      View Details
    • Value Estimation
      $215,000
      4,320 SF

      4062 Skiff St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,320 SF
      4062 Skiff St, Willoughby, OH 44094-6255
      View Details
    • Value Estimation
      $210,000
      6,293 SF

      37223 Euclid Ave

      MOBILE HOME PARK, TRAILER PARK • 6,293 SF
      37223 Euclid Ave, Willoughby, OH 44094-5658
      View Details
    • Value Estimation
      $200,000
      10.05 Acres

      8307 Eagle Rd

      MOBILE HOME PARK, TRAILER PARK • 10.05 Acres
      8307 Eagle Rd, Willoughby, OH 44094
      View Details
    • Value Estimation
      $195,000
      5.16 Acres

      9735 Chillicothe Rd

      MOBILE HOME PARK, TRAILER PARK • 5.16 Acres
      9735 Chillicothe Rd, Willoughby, OH 44094-9344
      View Details
    • Value Estimation
      $280,000
      15.31 Acres

      34424 Euclid Ave

      MOBILE HOME PARK, TRAILER PARK • 15.31 Acres
      34424 Euclid Ave, Willoughby, OH 44094-3379
      View Details

    Similar Nearby for Sale

    • $295,000

      Move-in Ready Condo with Upgrades

      Stunning 3-bedroom condo with modern updates and elegant touches.
      38185 Cross Creek Dr, Willoughby, OH 44094
      View Details
    • $800,000
      1,760 SF

      3.38 Acre Retail Business Opportunity

      3.38 acres zoned for retail business with existing structures.
      10612 Chillicothe Rd, Willoughby, OH 44094
      View Details
    • $1,950,000
      4,600 SF

      Mentor Ave Office Campus

      Willoughby, OH Medical/Office Complex
      38882- Mentor Ave, Willoughby, OH 44094
      View Details
    • $1,600,000
      30,341 SF

      Professional Office Campus on Route 20

      Two-building office campus on 4.06 acres near major routes.
      38882-38886 Mentor Ave, Willoughby, OH 44094
      View Details
    • Contact for pricing
      10,480 SF

      Willoughby Freestanding Office/Warehouse Building

      Clean 10,480 SF office/warehouse/light industrial building for sale.
      38227 Western Pkwy, Willoughby, OH 44094
      View Details
    • $1,000,000
      17,526 SF

      Office, Garage, and Storage Buildings

      Three buildings on 2.74 acres with secure, fenced yard.
      37401 Stevens Blvd, Willoughby, OH 44094
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo
      732 SF

      Willoughby Triplex First Floor Unit

      Two-bedroom, one-bath unit near downtown Willoughby's amenities.
      38257 Prospect St, Willoughby, OH 44094
      View Details
    • Contact for pricing
      4,289 SF

      Willoughby Hills Medical Office Space

      Prime Ohio medical/executive suites available.
      34820 Chardon Rd, Willoughby Hills, OH 44094
      View Details
    • Contact for pricing
      457,944 SF

      Willoughby Commons Retail Space

      High-traffic retail center in Willoughby, OH
      36195 Euclid Ave, Willoughby, OH 44094
      View Details
    • Contact for pricing
      4,550 SF

      Willoughby Retail Space For Lease

      Retail spaces available in Willoughby's central trade area.
      Robinhood Dr, Willoughby, OH 44094
      View Details
    • Contact for pricing
      2,940 SF

      Retail Space on Euclid Avenue

      Retail space available at a high-traffic intersection in Willoughby.
      35085 Euclid Ave, Willoughby, OH 44094
      View Details
    • Contact for pricing
      900 SF

      Retail Space in Willoughby Commons

      Retail spaces available in high-traffic Willoughby shopping center.
      36155 Euclid Ave, Willoughby, OH 44094
      View Details
    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.
    Wright
    Willoughby, OH 44094
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.