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    Property profile & analytics

    2181 55Th St Cleveland, OH 44103

    • Warehouses
    • 34,560 SF
    • 0.28 lot acres
    For Sale
    View listing
    $650,000
    Value Estimation
    Last Sale
    Mar 21, 2023
    Location Intelligence
    Property ID
    US66-2261111
    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

    • Warehouses

    Property Details for 2181 55Th St

    Year built
    1920
    Construction
    CONCRETE
    Lot size
    0.28 lot acres
    Property size
    34,560 SF
    Zone code
    SI
    Property type
    Warehouses
    APN
    118-17-001
    APU
    11817001

    Description

    This exceptional redevelopment opportunity presents a substantial 68,703-square-foot warehouse situated on a 1.091-acre lot in Cleveland, Ohio. The property, identified by APN numbers 11817001, 11817002, 11817029, and 11817018, is zoned SI-C2 and offers significant potential for various uses. The three-story concrete structure, built in 1951, is currently in shell condition, providing a blank canvas for adaptive reuse. Key features include a freight elevator and convenient rear access via Longfellow Road. The single-tenant building is classified as Class B industrial and represents a compelling investment at an asking price of $650,000. Its substantial size and prime Cleveland location make it an attractive proposition for developers and investors seeking a high-return project. The property's existing infrastructure, including the concrete structure and freight elevator, provides a solid foundation for a variety of potential projects. The ample lot size offers additional development possibilities. This is a rare chance to acquire a large-scale warehouse in a desirable location with significant upside potential. Serious inquiries are encouraged.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $405,000

    • CAP approach

      CAP return
      Estimation
      6%
      $430,000
      6.5%
      $420,000
      7%
      $460,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $455,000
      Geo Method
      $485,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $540,000
      Retail
      $485,000
      Mixed-Use
      $395,000
      Hospitality
      $425,000
      Educational
      $455,000
      Residential Income
      $395,000
      Energy
      $465,000
      Income-Based Land
      $415,000
      Food Service
      $520,000

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6508
    Latitude
    41.5002
    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
    $3,845
    $12,600
    $25,900
    $38,500
    -
    $36,000
    $74,000
    $110,000

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    Cleveland, OH 44103
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    Realmo Value Estimation

    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.

    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.

    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
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