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    1118 Euclid Ave Cleveland, OH 44115
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    Property profile & analytics

    1118 Euclid Ave, Cleveland, OH 44115

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    • Retail space
    • 230,085 SF
    • 0.40 lot acres
    For Lease
    $3,220,000
    View Listing →
    Euclid Avenue Retail Space Available For Lease
    $3,220,000
    1,155 SF

    Euclid Avenue Retail Space Available

    Retail space on Euclid Avenue with high visibility and foot traffic.

    1118 Euclid Ave, Cleveland, OH
    View Listing
    Property ID
    US66-5742582
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Areko Consulting / Consultant
    • Hydration Spark / Gym & Fitness Center / Alternative Medicine Practice
    • The Athlon / Apartment Building
    • E & A Tax Preparation / Tax Preparation

    Property Details for 1118 Euclid Ave

    Year built
    1900
    Construction
    CONCRETE
    Lot size
    0.40 lot acres
    Zone code
    GR
    Property type
    Retail space
    APN
    101-36-019
    APU
    10136019

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 29, 2018 — Cac Project 2014 LLC — Grant Deed · related $29.1M · Huntington Nat'l Bk
    Dec 29, 2017 — Cleveland-cuyahoga Cnty Port A Cac Project 2014 LLC Grant Deed · related $4M · Tristate Cap Bk
    Oct 26, 2017 — Cac Project 2014 LLC City Of Cleveland Ohio Quit Claim Deed · related —
    Aug 17, 2017 — Cac Project 2014 LLC — Loan Modification · related $7.6M · Tristate Cap Bk
    Sep 6, 2016 — Cac Project 2014 LLC — Deed · related $500k · Waring Inv
    May 15, 2015 $3,300,000 Cac Project 2014 LLC Sheriff Of Cuyahoga County|cac Buildings Propertie Trustees Deed —
    Oct 6, 2014 — Cac Buildings Properties LLC Cleveland Euclid Hotel Assocs Grant Deed · related —
    Dec 31, 2013 $4,518,000 Cleveland Euclid Hotel Assocs Cac Buildings Properties LLC Grant Deed —
    Aug 30, 2007 $3,300,000 Cac Buildings Properties LLC Cac Building Properties LLC Warranty Deed · related $2.5M · Waring Investment INC
    May 18, 2006 — Cac Building Properties LLC Glazer LLC Grant Deed · related —
    Dec 28, 2004 — Fazio LLC Cac Building Properties LLC Grant Deed · related —
    Jun 12, 2002 — Cac Building Properties LLC S M R & B Co Grant Deed · related —
    — — Cac Project 2014 LLC — Deed Of Trust · related $3.6M · Ohio Water Dev Authority
    — — Cac Project 2014 LLC — Deed Of Trust · related $500k · Waring Inv
    — — Cac Project 2014 LLC — Loan Modification · related $4M · Tristate Cap Bk
    — — Cac Project 2014 LLC — Deed Of Trust · related $4M · Tristate Cap Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,689,000
      Market price range: $2.37M - $16.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6847
    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
    $160,381
    $483,000
    $1,058,510
    $1,541,510
    -
    $1,380,000
    $15,720,700
    $17,100,700

    Comparable in this City

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      $2,400,000
      86,164 SF

      2025 Ontario St

      RETAIL STORES (PERSONAL SERVICES)
      2025 Ontario St, Cleveland, OH 44115-1028
      View Details
    • Value Estimation
      $5,530,000
      86,520 SF

      2901 Euclid Ave

      RETAIL STORES (PERSONAL SERVICES)
      2901 Euclid Ave, Cleveland, OH 44115-2424
      View Details
    • Value Estimation by Request
      2,278 SF

      3337 Central Ave

      RETAIL STORES (PERSONAL SERVICES)
      3337 Central Ave, Cleveland, OH 44115-3022
      View Details
    • Value Estimation
      $620,000
      7,794 SF

      1240 Carnegie Ave

      RETAIL STORES (PERSONAL SERVICES)
      1240 Carnegie Ave, Cleveland, OH 44115-2808
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    • Value Estimation by Request
      1,757 SF

      3767 Community College Ave

      RETAIL STORES (PERSONAL SERVICES)
      3767 Community College Ave, Cleveland, OH 44115-3305
      View Details
    • Value Estimation
      $1,305,000
      18,216 SF

      2230 Euclid Ave

      RETAIL STORES (PERSONAL SERVICES)
      2230 Euclid Ave, Cleveland, OH 44115-2405
      View Details

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      Starr Piano Lofts Investment Opportunity

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    • New
      $675,000
      0.30 Acres

      Mixed-Use Building: Redevelopment Opportunity

      23-unit mixed-use building with redevelopment potential in prime location.
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      Downtown Cleveland Retail Land Available

      1.12 acres of retail land in Downtown Cleveland.
      2177 E 9Th St, Cleveland, OH 44115
      View Details
    • Contact for pricing

      Downtown Cleveland Retail Complex

      220,000 SF commercial and retail complex in Downtown Cleveland.
      3615 Euclid Ave, Cleveland, OH 44115
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,300 SF

      Retail Space on Prospect Avenue

      Retail space available for lease on Prospect Avenue.
      1867-1873 Prospect Ave, Cleveland, OH 44115
      View Details
    • Contact for pricing
      7,027 SF

      Euclid Avenue Retail Space Available

      Retail space on Euclid Avenue with high visibility and foot traffic.
      1118 Euclid Ave, Cleveland, OH 44115
      View Details
    • Contact for pricing
      14,722 SF

      Retail Space Near Wolstein Center

      Retail space for lease near Cleveland State University.
      1835-1859 Prospect Ave E, Cleveland, OH 44115
      View Details
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      3,257 SF

      Prime Retail Space in Cleveland

      Retail or restaurant space with excellent access and high visibility.
      1401 Prospect Ave, Cleveland, OH 44115
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      7,742 SF

      Euclid Avenue Restaurant and Coffee

      Restaurant space and coffee shop in new luxury development.
      776 Euclid Ave, Cleveland, OH 44115
      View Details
    • Contact for pricing
      1,654 SF

      Downtown Cleveland Retail Space Available

      Retail space with downtown amenities and transit network access.
      1101-1015 Euclid Ave, Cleveland, OH 44115
      View Details
    View Listing
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    Cleveland, OH 44115
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    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
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