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    The Largest CRE Database in the US with Over 1 Million Listings

    13855 Clifton Blvd Lakewood, OH 44107

    Sponsored
    For Sale
    Under Contract
    $499,900

    MULTI_FAMILY - Lakewood, OH

    Property size:
    4,000 SF
    Lot size:
    0.19 Acres
    Days on Market:
    12
    Last Refresh:
    Feb 7 at 11:06 am

    Property Features for 13855 Clifton Blvd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active Under Contract
    Rooms
    Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 7, Basement, Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 5
    Bedrooms
    7
    Bathrooms
    3
    APN
    312-21-036
    Parking features
    Garage
    Size
    4,000 SF
    Lot size
    0.19 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Hot Water(Heating), Steam
    Cooling system
    Central Air, Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1924
    Floors in Building
    3
    Building materials
    VinylSiding, WoodSiding
    Roof type
    Fiberglass, Asphalt

    We can help!

    Listing Contact
    Jesse R Kracht
    Jesse R Kracht

    Russell Real Estate Services (440) 268-9491

    Listing agent Jesse R Kracht (440) 212-5656 License #2010001088

    Listing date Jan 27, 2026

    MLS# 5152429 Listing URL

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lakewood Multi-Family Property with Updates

    Located in Lakewood, this multi-family property at 13855 Clifton Boulevard is within walking distance of parks, schools, shopping, and entertainment. The property is less than 10 minutes from downtown Cleveland. This renovated two-unit property includes an in-law bonus suite. A new roof was installed in August of 2025. The first-floor unit features two bedrooms, a living room with a fireplace and moulding, a side and front porch, and a large dining room. Natural light fills the space through numerous windows. The unit also includes a sunroom, an eat-in kitchen with appliances, and in-suite laundry. The second floor, occupied by a tenant with a $2000/month lease, mirrors the first floor's layout and includes a finished attic with two additional bedrooms, creating a four-bedroom, one-bath unit with in-suite laundry. Kitchen appliances and washer/dryers are included in all units, along with window AC units. The one-bedroom bonus suite above the attached three-car garage has a furnace and AC that were replaced approximately five years ago. Many updates were completed in 2020. The property, when fully occupied, has the potential to gross over $5000 per month in rent. It can also be converted back into a single-family home with over 4000 square feet. The lot size is 0.1886 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.789468
    Latitude
    41.490889

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    FAQs

    What type of property is this?
    Specialty property - Updated multi-unit property in Lakewood near amenities and downtown Cleveland.
    Where is this specialty property located?
    The property is located at 13855 Clifton Blvd Lakewood, OH.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: - Renovated 2-unit property with in-law suite, offering multiple living arrangements or rental income potential.; - Prime Lakewood location: walking distance to amenities and a short drive to downtown Cleveland.; - Grosses over $5000/month in rent when fully occupied.
    (440) 212-5656
    Request Owner's contact information
    13855 Clifton Blvd Lakewood, OH 44107
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    Lakewood, OH 44107
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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
    13855 Clifton Blvd Lakewood, OH 44107
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    We can help!
    Listing Contact
    Jesse R Kracht
    Jesse R Kracht
    Real Estate License ID: 2010001088
    (440) 212-5656
    Learn more
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