Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10501 Lorain Ave Cleveland, OH 44111-5441

    • Office buildings
    • 480 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Dec 24, 2024
    $275,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1432211
    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

    • Long Brothers Car Co / Car Dealership

    Property Details for 10501 Lorain Ave

    Year built
    1986
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.27 lot acres
    Property size
    480 SF
    Zone code
    GR
    Property type
    Office buildings
    APN
    018-09-001
    APU
    1809001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7589
    Latitude
    41.4648
    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
    $5,797
    $36,510
    $21,530
    $58,040
    -
    $104,300
    $61,500
    $165,800

    Comparable in this City

    • Value Estimation by Request
      1,025 SF

      12908 Lorain Ave

      OFFICE BUILDING • 1,025 SF
      12908 Lorain Ave, Cleveland, OH 44111-2612
      View Details
    • Value Estimation by Request
      2,433 SF

      3570 140th St

      OFFICE BUILDING • 2,433 SF
      3570 140th St, Cleveland, OH 44111-2410
      View Details
    • Value Estimation by Request
      6,480 SF

      15517 Munn Rd

      OFFICE BUILDING • 6,480 SF
      15517 Munn Rd, Cleveland, OH 44111
      View Details
    • Value Estimation by Request
      300 SF

      11101 Lorain Ave

      OFFICE BUILDING • 300 SF
      11101 Lorain Ave, Cleveland, OH 44111-5422
      View Details
    • Value Estimation by Request
      5,000 SF

      12703 Triskett Rd

      OFFICE BUILDING • 5,000 SF
      12703 Triskett Rd, Cleveland, OH 44111-2530
      View Details
    • Value Estimation by Request
      1,500 SF

      3891 150th St

      OFFICE BUILDING • 1,500 SF
      3891 150th St, Cleveland, OH 44111-5806
      View Details

    Similar Nearby for Sale

    • $385,000
      1,500 SF

      Cleveland Commercial Flex Space For Sale

      Versatile commercial space with warehouse and office components in Cleveland.
      12703 Triskett Rd, Cleveland, OH 44111
      View Details
    • $385,000
      5,000 SF

      Versatile Commercial Space in Cleveland

      Flexible commercial property with warehouse and office space, great access.
      12703 Triskett Rd, Cleveland, OH 44111
      View Details
    • $2,700,000
      54,600 SF

      Cleveland Industrial Warehouse - 40,909 SF

      Spacious Warehouse, Manufacturing Space, Cleveland
      3881 150Th St, Cleveland, OH 44111
      View Details
    • $250,000
      2,786 SF

      Cleveland Quadplex Investment Opportunity

      Cash-flowing quadplex in Cleveland's west side near amenities.
      3834 Bosworth Rd, Cleveland, OH 44111
      View Details
    • $200,000
      1,920 SF

      Tenant-Occupied Investment Property in Cleveland

      Tenant-occupied property generating $2,223 monthly income, tenants pay utilities.
      3234 W 110Th St, Cleveland, OH 44111
      View Details
    • $269,000
      2,812 SF

      Duplex on Historic West Boulevard

      Duplex with income potential, immediate rental opportunity, ample parking.
      3123 West Blvd, Cleveland, OH 44111
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      4,722 SF

      Retail/Office Space in Cleveland, OH

      1,200 sq ft retail/office space in thriving West Park.
      12222 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing

      Lorain Avenue Commercial Lot Available

      0.4-acre lot near retailers and public transportation.
      14039 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space with Apartments Above

      Retail space with three apartments above near I-90.
      10701 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing

      Commercial Space Available For Lease

      Commercial property available for lease at 12201 Elmwood Ave.
      12201 Elmwood Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing

      Community Shopping Center For Lease

      Community shopping center with national and local retailers.
      10604 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing
      1,185 SF

      Freestanding Retail Building For Lease

      Freestanding retail building in high-density area with drive-thru potential.
      14002 Triskett Rd, Cleveland, OH 44111
      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.
    10501 Lorain Ave
    Cleveland, OH 44111-5441
    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!