Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3432 134Th St Cleveland, OH 44120

    Property Lookup

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

    3432 134Th St Cleveland, OH 44120

    View on Map
    • Apartment buildings
    • 9,696 SF
    • 0.14 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3432 134Th St

    Year built
    1920
    Lot size
    0.14 lot acres
    Property size
    9,696 SF
    Property type
    Apartment buildings

    Description

    This 11-unit apartment building in Cleveland, Ohio presents a compelling value-add opportunity. The 9,696 square foot, two-story brick building sits on a 0.14-acre lot and boasts a strong 100% occupancy rate. The property includes eleven residential units—one one-bedroom, seven two-bedroom, one three-bedroom, and two retail spaces, each approximately 700 square feet. Recent capital improvements include a new roof, windows, kitchens, bathrooms, and electrical upgrades. The building generates a substantial net operating income (NOI) of $58,606, resulting in a 10.87% capitalization rate. Pro-forma NOI is projected at $60,179, representing an 11.16% pro-forma cap rate. Landlord pays for water, sewer, and trash services. Two residential units are currently enrolled in the Section 8 program, providing a stable income stream. Conveniently located near I-77 and Chagrin Road, this property offers easy access to Little Italy, Case Western Reserve University, and the Cleveland Clinic. Public transportation is readily available. The asking price is $539,000, or $49,000 per unit. The property's address is 3432 E 134th St, Cleveland, OH 44120, with APN 130-08-035. This is a well-maintained, high-performing asset with significant upside potential.

    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
    -81.5898
    Latitude
    41.4654

    Comparable in this City

    • Value Estimation by Request
      30,000 SF

      2899 Hampton Rd

      Multifamily properties • 30,000 SF
      2899 Hampton Rd, Cleveland, OH 44120
      View Details
    • Value Estimation by Request
      0.11 Acres

      147th St

      APARTMENT HOUSE (5+ UNITS) • 0.11 Acres
      147th St, Cleveland, OH 44120
      View Details
    • Value Estimation by Request
      6,500 SF

      3444 149Th St

      Multifamily properties • 6,500 SF
      3444 149Th St, Cleveland, OH 44120
      View Details
    • Value Estimation
      $2,025,000
      0.17 Acres

      130th St

      APARTMENT HOUSE (5+ UNITS) • 0.17 Acres
      130th St, Cleveland, OH 44120
      View Details
    • Value Estimation by Request
      0.29 Acres

      15700 Van Aken Blvd, Unit 11

      APARTMENT HOUSE (5+ UNITS) • 0.29 Acres
      15700 Van Aken Blvd, Shaker Heights, OH 44120-5325
      View Details
    • Value Estimation by Request
      115,748 SF

      12700 Shaker Blvd

      Multifamily properties • 115,748 SF
      12700 Shaker Blvd, Cleveland, OH 44120
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,052 SF

      22-Unit Tudor-Style Apartment Building

      Historic charm meets modern upgrades in Cleveland's desirable district.
      13415 S Woodland Rd, Cleveland, OH 44120
      View Details
    • Contact for pricing
      115,748 SF

      Shaker Square Multifamily Investment Opportunity

      103-unit multifamily property in Cleveland's Historic Shaker Square Neighborhood.
      12700 Shaker Blvd, Cleveland, OH 44120
      View Details
    • $1,575,000

      Historic Shaker Square Apartment Building

      28-unit apartment building in Shaker Square with updates.
      3016 S Moreland Blvd, Shaker Heights, OH 44120
      View Details
    • $140,000
      Pending

      Cleveland Multifamily Investment Portfolio

      Four-property, nine-unit portfolio in Cleveland's established rental corridors.
      2822 E 125Th St, Cleveland, OH 44120
      View Details
    • $119,000
      0.08 Acres

      Cleveland Duplex Investment Opportunity

      Well-maintained duplex in Cleveland with strong income potential.
      2901 E 121St St, Cleveland, OH 44120
      View Details
    • $229,000
      Pending

      Renovated Triplex: Turnkey Investment Opportunity

      Fully renovated triplex in Cleveland, offering a turnkey investment opportunity.
      3544 E 153Rd St, Cleveland, OH 44120
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Updated 2-Bed Top Unit

      Cozy, updated 2-bed unit near restaurants and shopping.
      3540 E Estates Ct, Cleveland, OH 44120
      View Details
    • Contact for pricing

      Third Floor Suite For Rent

      Third floor suite in Shaker Heights, perfect for one person.
      17628 Winslow Rd, Shaker Heights, OH 44120
      View Details
    • Contact for pricing

      Restaurant Space Available For Rent

      Single tenant restaurant space available for rent, 2,200 SqFt.
      13114 Larchmere Blvd, Cleveland, OH 44120
      View Details
    • Contact for pricing
      4,356 SF

      Shaker Square Restaurant Spaces Available

      Fully equipped restaurant spaces for sublease in historic Shaker Square.
      13220 Shaker Blvd, Cleveland, OH 44120
      View Details
    • Sponsored
      Contact for pricing

      OH, Shaker Heights - Chagrin Blvd

      Workspaces, services and support to help you work better in OH, Shaker Heights - Chagrin Blvd
      16102 Chagrin Blvd, Shaker Heights, OH 44120
      View Details
    • Contact for pricing

      Medical Office Building For Rent

      Medical office space available for rent.
      16500 Chagrin Blvd, Shaker Heights, OH 44120
      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.
    3432 134Th St
    Cleveland, OH 44120
    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!