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

    2550 Riverbed St Cleveland, OH 44113

    • Land
    • 4.52 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 2550 Riverbed St

    Lot size
    4.52 lot acres
    Property type
    Land

    Description

    This exceptional 4.52-acre commercial land parcel, located at 2550 Riverbed St, Cleveland, OH 44113, presents a unique investment opportunity in Cuyahoga County. The property, identified by APN numbers 003-05-020, 003-05-013, and 003-05-014, offers significant waterfront development potential. Priced at $9,950,000 ($2,200,000 per acre), this site is situated in a dominant location, representing one of the most prestigious development opportunities within the city. Its highest and best use could encompass residential, commercial, mixed-use, or recreational development. The property's prime location benefits from Cleveland's recent surge in development, with over $320 million invested in downtown projects in 2020 alone, including significant residential, recreational, office, and hotel renovations. This presents a compelling opportunity to capitalize on Cleveland's ongoing revitalization and create a landmark development. The site's size and waterfront access offer unparalleled flexibility for a wide range of development concepts. Serious inquiries are encouraged.

    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
    -81.7005
    Latitude
    41.4875

    Comparable in this City

    • Value Estimation by Request
      0.21 Acres

      2420 14Th St

      Land • 0.21 Acres
      2420 14Th St, Cleveland, OH 44113
      View Details
    • Value Estimation
      $250,000
      0.02 Acres

      Washington Ave

      COMMERCIAL (GENERAL) • 0.02 Acres
      Washington Ave, Cleveland, OH 44113
      View Details
    • Value Estimation
      $230,000
      3,568 SF

      2267 14th St

      COMMERCIAL (GENERAL) • 3,568 SF
      2267 14th St, Cleveland, OH 44113-3610
      View Details
    • Value Estimation
      $610,000
      0.15 Acres

      2062 10th St

      COMMERCIAL (GENERAL) • 0.15 Acres
      2062 10th St, Cleveland, OH 44113-3659
      View Details
    • Value Estimation
      $240,000
      2,114 SF

      3821 Lorain Ave

      COMMERCIAL (GENERAL) • 2,114 SF
      3821 Lorain Ave, Cleveland, OH 44113-3710
      View Details
    • Value Estimation by Request
      16,959 SF

      99 St Clair Ave

      Retail properties • 16,959 SF
      99 St Clair Ave, Cleveland, OH 44113
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.09 Acres

      Land For Sale Cleveland

      Land available for purchase in Cleveland, Ohio.
      4015 List Ct, Cleveland, OH 44113
      View Details
    • $49,500
      0.06 Acres

      Tremont Corner Lot Opportunity

      Corner lot in Tremont, ready for new construction.
      2700 Barber Ave, Cleveland, OH 44113
      View Details
    • $79,900
      0.06 Acres

      Land in Ohio City's SOLO

      Rare opportunity to build in Ohio City's vibrant SOLO neighborhood.
      W 33Rd St, Cleveland, OH 44113
      View Details
    • New
      $175,000
      0.43 Acres

      Land in Cleveland's Tremont Area

      Nearly half-acre land parcel in Cleveland's Tremont neighborhood.
      W 16Th St, Cleveland, OH 44113
      View Details
    • $6,000,000
      52,711 SF

      The Hive: Ohio City Office Building

      Cleveland Office Building: High Occupancy, Great Potential
      2019 Center St, Cleveland, OH 44113
      View Details
    • Contact for pricing
      7,266 SF

      Historic Flats Apartment Building

      Cleveland gem: renovated, prime location.
      1700 Columbus Rd, Cleveland, OH 44113
      View Details

    Similar Nearby for Lease

    • $3,976 /Mo

      Industrial Land for Staging, Storage

      1.84 acre industrial land suitable for staging and storage.
      1857 Carter Rd, Cleveland, OH 44113
      View Details
    • $23 SF/Yr
      323,000 SF

      Downtown Cleveland Executive Suites

      Class A Office Space, 7 Suites Available
      1660 2Nd St, Cleveland, OH 44113
      View Details
    • $1,500 /Mo
      793 SF

      Updated Two-Bedroom Unit in Ohio City

      Updated 2-bedroom unit in Ohio City near restaurants and boutiques.
      4205 Woodbine Ave, 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
    • $11 SF/Yr
      3,116 SF

      Retail/Office/Medical Space in Cleveland

      Retail, office, or medical space in a gentrified Cleveland area.
      2510 W 25Th St, 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.
    2550 Riverbed St
    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.
    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.