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    Property profile & analytics

    2630 Payne Ave Cleveland, OH 44114

    • Warehouses
    • 65,188 SF
    • 0.44 lot acres
    For Sale
    View listing
    $1,900,000
    Value Estimation
    Last Sale
    Jul 06, 2021
    $480,000
    Location Intelligence
    Property ID
    US66-1548618
    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

    • Twin Lanes Pro-Shop / Bowling Supply Shop
    • Ohio Wholesale Business Furniture / Furniture Store / Furniture Wholesaler

    Property Details for 2630 Payne Ave

    Year built
    1921
    Construction
    CONCRETE
    Lot size
    0.44 lot acres
    Property size
    65,188 SF
    Zone code
    SI
    Property type
    Warehouses
    APN
    102-34-036
    APU
    10234036

    Description

    This exceptional 65,188-square-foot flex space industrial building at 2630 Payne Avenue in Cleveland, Ohio, presents a compelling redevelopment opportunity. Priced at $1,900,000 ($29.15/sq ft), this four-story property boasts 16-foot ceiling heights, passenger and freight elevators, and ample on-site parking. Situated in a high-growth area adjacent to the Cleveland State University campus, this location benefits from the university's master plan, projecting 20,000 students by 2024. The property's high visibility and immediate access to I-90 enhance its appeal. Built in 1921, this historic brick warehouse is located within an Opportunity Zone and may qualify for Historic Preservation and/or New Market Tax Credits. The property includes an additional land/lot and an adjacent parcel at 1764 E 27th Street, expanding its potential. Ideal for residential or mixed-use conversion, this asset offers significant upside for investors seeking a prime location in a rapidly developing area. The property's size, features, and strategic location combine to create a unique investment opportunity with substantial long-term growth potential.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $415,000

    • CAP approach

      CAP return
      Estimation
      6%
      $540,000
      6.5%
      $500,000
      7%
      $520,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $565,000
      Geo Method
      $550,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $635,000
      Retail
      $495,000
      Mixed-Use
      $475,000
      Hospitality
      $575,000
      Educational
      $605,000
      Residential Income
      $575,000
      Energy
      $470,000
      Income-Based Land
      $555,000
      Food Service
      $565,000

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6702
    Latitude
    41.5071
    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
    $15,223
    $29,300
    $123,130
    $152,430
    -
    $83,700
    $351,800
    $435,500

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      1703 27th St

      WAREHOUSE, STORAGE • 0.11 Acres
      1703 27th St, Cleveland, OH 44114-4421
      View Details
    • Value Estimation by Request
      30,434 SF

      3530 Superior E Ave

      WAREHOUSE, STORAGE • 30,434 SF
      3530 Superior E Ave, Cleveland, OH 44114-4125
      View Details
    • Value Estimation by Request
      3,175 SF

      1420 24th St

      WAREHOUSE, STORAGE • 3,175 SF
      1420 24th St, Cleveland, OH 44114-2126
      View Details
    • Value Estimation by Request
      2,847 SF

      2130 Hamilton Ave

      WAREHOUSE, STORAGE • 2,847 SF
      2130 Hamilton Ave, Cleveland, OH 44114-1144
      View Details
    • Value Estimation by Request
      12,406 SF

      1555 Hamilton Ave

      WAREHOUSE, STORAGE • 12,406 SF
      1555 Hamilton Ave, Cleveland, OH 44114-1107
      View Details
    • Value Estimation by Request
      10,995 SF

      3500 Payne Ave

      WAREHOUSE, STORAGE • 10,995 SF
      3500 Payne Ave, Cleveland, OH 44114-4316
      View Details

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    2630 Payne Ave
    Cleveland, OH 44114
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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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