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Property profile & analytics
FOR LEASE
Office buildings
1001 Lakeside Ave Cleveland, OH 44114
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US66-5532993
For Lease
1 / 4
$23.50 SF/Yr
1001 Lakeside Ave, Cleveland, OH 44114
View Listing →
Property summary
AI-generated overview
North Point Tower, a prestigious 19-story Class A office building, offers 591,938 square feet of executive office space in Cleveland, Ohio's central business district at 1001 Lakeside Ave E, 44114. Boasting a sleek, all-glass exterior designed by Jerry Peyto, the building provides abundant natural light. Enjoy breathtaking 360-degree views of the Cleveland skyline and Lake Erie. Recent renovations exceeding $10 million have modernized the lobby, atrium, elevator cabs, amphitheater, conference room, fitness center, restaurant, and tenant lounge, catering to today's workforce needs. The building features the largest attached parking garage in the CBD, providing over 1,000 convenient and affordable parking spaces. Supplementary surface parking is available at the adjacent Cleveland Muni Surface Parking lot for a monthly or daily fee. Currently, there is 1 square foot of vacant space available. This exceptional property offers efficient space and unparalleled amenities in a prime location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Construction
CONCRETE
Total area
591,612 SF
Lot
2.49 ac (108,529 SF)
Zoning code
SI
APN
102-01-011
UPID
US66-5532993
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Coyne Anthony J Law Firm
-
Connor Harmer | Equitable Advisors Financial Advisor
-
Whiting-Turner Contracting Company Construction Company
-
HealthSpan - Kaiser Permanente Insurance Agency
-
Ann E. Knuth Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$50.59M
Blend (final)
Blend
$48.20M
Owner & transaction history
Hertz Cleveland North Pt LLC · 9 yrs held
Hertz Cleveland North Pt LLC
since 2016
5 recorded transactions
Zoning & alternative use
SI · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cleveland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$68,510,000
Current use
MEDICAL BUILDING
$64,285,000
Change: -6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$59,930,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$48.20M
Range $43.38M – $53.02M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$81 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,872,778
Tax year 2023
Assessed value
$17,766,880
Assessed 2023
Previous assessed
$17,766,880
+0.0% YoY
Effective rate
10.54%
On assessed value
Assessed land
$2,658,950
Assessed improvement
$15,107,930
Land market value
$7,597,000
Improvement market value
$43,165,500
Total market value
$50,762,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1989
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
19
Total area
591,612 SF
Lot
2.49 ac (108,529 SF)
Zoning code
SI
APN
102-01-011
UPID
US66-5532993
Jurisdiction
CUYAHOGA
Zoning & alternative use
SI · Cleveland, OH
Zoning SI · permitted uses
SI · Cleveland, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$68.5M
MEDICAL BUILDING
Est. value
$64.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$59.9M
OFFICE BUILDING Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
19
Buildings
3
Lot
2.49 ac
Current owner
From public records · entity-resolved
Hertz Cleveland North Pt LLC
Entity
Mailing address
28400 NORTHWESTERN HWY FL, SOUTHFIELD, MI 48034-1839
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2019
—
Hertz Cleveland N Pt LLC
—
Grant Deed
related
$90,500,000 · Citi R/e Fndg INC
Dec 14, 2016
—
Hertz Cleveland North Pt LLC
—
Deed
related
$71,700,000 · Jp Morgan Chase Bk
Sep 1, 2016
$95,000,000
Hertz Cleveland North Pt LLC
Hub Properties Trust
Trustees Deed
$71,700,000 · Jp Morgan Chase Bk
Feb 14, 2008
$114,100,000
Hub North Properties LLC
Axa Equitable Life Ins
Grant Deed
$111,939,026 · Hub Properties Trust (ct)
Dec 28, 2007
—
Axa Equitable Life Ins Co
Equitable Jvs INC
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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