Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1905 Fulton Rd Cleveland, OH 44113

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1905 Fulton Rd Cleveland, OH 44113

    View on Map
    • Residential income homes
    • 977 SF
    • 0.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 1905 Fulton Rd

    Year built
    1914
    Lot size
    0.00 lot acres
    Property size
    977 SF
    Property type
    Residential income homes

    Description

    This stabilized multifamily investment opportunity presents a 1-unit condominium located at 1905 Fulton Rd, 1B, Cleveland, OH 44113, in the desirable Ohio City neighborhood. The property, built in 1914 and extensively renovated in 2021, boasts 977 square feet and features a 2-bedroom unit with a direct view of Library Park. Recent upgrades include refinished floors, updated kitchen with stainless steel appliances, granite countertops, and a ceramic tile backsplash. A recently installed stacking washer/dryer adds convenience. The formal dining room overlooks a fenced rear garden and includes a pass-through from the kitchen and a plate rail. A renovated bathroom features retro-style hexagonal ceramic tile and modern fixtures. Additional amenities include a covered front balcony, a storage locker in the common basement, and assigned off-street parking. The property is currently leased at $1,550 per month (plus utilities) through June 1, 2025, with only two tenants in the past five years, demonstrating high tenant retention. The property sits on a 0.001-acre lot, is a 4-story building, and is zoned for condominium use. The asking price is $210,000, representing a price per square foot of $214.94 and a strong 8.86% cap rate with a current Net Operating Income (NOI) of $18,600 and 100% occupancy. The APN is 00336804. This is an exceptional opportunity for investors seeking a stable, high-return investment in a prime Cleveland location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7106
    Latitude
    41.4828

    Comparable in this City

    • Value Estimation by Request
      3,752 SF

      3905 Woodbine Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,752 SF
      3905 Woodbine Ave, Cleveland, OH 44113-3249
      View Details
    • Value Estimation by Request
      1,584 SF

      2091 11th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,584 SF
      2091 11th St, Cleveland, OH 44113-3734
      View Details
    • Value Estimation by Request
      6,678 SF

      3002 Franklin Blvd

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,678 SF
      3002 Franklin Blvd, Cleveland, OH 44113-2920
      View Details
    • Value Estimation by Request
      3,016 SF

      2083-2085 Thurman St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,016 SF
      2083-2085 Thurman St, Cleveland, OH 44113
      View Details
    • Value Estimation by Request
      2,810 SF

      1213 Fairfield Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,810 SF
      1213 Fairfield Ave, Cleveland, OH 44113-3664
      View Details
    • Value Estimation
      $655,000
      8,730 SF

      4201 Clinton Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 8,730 SF
      4201 Clinton Ave, Cleveland, OH 44113-2849
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,000 SF

      Tremont Mixed-Use Property for Sale

      Mixed-use property in Tremont with retail and apartment units.
      2175-2181 W 11Th St, Cleveland, OH 44113
      View Details
    • $194,900
      2,035 SF

      Cleveland Multifamily Investment Opportunity

      Multifamily property near W 25th, ideal for investors or owner-occupants.
      2602 Vega Ave, Cleveland, OH 44113
      View Details
    • Contact for pricing
      3,536 SF

      Tremont Redevelopment Opportunity Near Park

      3,536 SF blank canvas in Tremont for redevelopment.
      2448 W 14Th St, Cleveland, OH 44113
      View Details
    • $365,000
      Pending

      Ohio City Four-Unit Multifamily Property

      Four-unit property in prime Ohio City location with upside.
      3202 Whitman Ave, Cleveland, OH 44113
      View Details
    • $160,000
      1,655 SF

      Tremont Duplex with Income Potential

      Duplex in Tremont neighborhood, close to amenities and downtown.
      2449 Castle Ave, Cleveland, OH 44113
      View Details
    • $1,875,000
      0.14 Acres

      New Townhomes in Tremont

      Four newly built townhomes in Cleveland's desirable Tremont neighborhood.
      2494-2500 Thurman Ave, Cleveland, OH 44113
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      53,200 SF

      Freestanding Mixed-Use Building For Rent

      Six-story building with retail and luxury rental apartments.
      1239 W 6Th St, Cleveland, OH 44113
      View Details
    • Contact for pricing

      W 25th Street Mixed-Use Building

      Mixed-use multifamily building in excellent location, income producing.
      3085 W 25Th St, Cleveland, OH 44113
      View Details
    • $26 SF/Yr
      3,250 SF

      Office Space Available For Rent

      Office space available for lease in Cleveland, OH.
      2164-2168 W 25Th St, Cleveland, OH 44113
      View Details
    • Contact for pricing
      3,000 SF

      Office Space Available For Rent

      3000 square feet of office space for rent.
      3121 Bridge Ave, Cleveland, OH 44113
      View Details
    • Contact for pricing
      2,493 SF

      Unique Ohio City Commercial Space

      Retail, restaurant, and office spaces in desirable Ohio City.
      3007 Detroit Ave, Cleveland, OH 44113
      View Details
    • Contact for pricing

      Ohio City Mixed-Use Building

      Mixed-use building in walkable neighborhood, prime for redevelopment.
      4134 Lorain Ave, Cleveland, OH 44113
      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.
    1905 Fulton Rd
    Cleveland, OH 44113
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!