Sign Up Successful!
You now have access to more from Realmo!
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

    1210 55th St, Unit 1230 Cleveland, OH 44103-1029

    • Warehouses
    • 22,261 SF
    • 1.69 lot acres
    OFF-MARKET
    Last Sale
    Aug 17, 2023
    $709,900
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2344161
    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

    • Lawn Cash for Cars / Auto Broker
    • Lawn Cash for Cars - Cleveland / Auto Broker

    Property Details for 1210 55th St

    Year built
    1920
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.69 lot acres
    Property size
    22,261 SF
    Zone code
    GI
    Property type
    Warehouses
    APN
    105-05-003
    APU
    10505003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $455,000
      ML approach
      $745,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $341,000
      Market price range: $342k - $1.52M
      AI Estimate
      $409,000
      Market price range: $410k - $1.57M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $835,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6528
    Latitude
    41.5256
    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
    $3,301
    $32,660
    $390
    $33,050
    -
    $93,300
    $1,100
    $94,400

    Comparable in this City

    • Value Estimation by Request
      24,543 SF

      4821 Superior Ave

      Distribution properties • 24,543 SF
      4821 Superior Ave, Cleveland, OH 44103
      View Details
    • Value Estimation by Request
      10,752 SF

      7035 Wade Park Ave

      WAREHOUSE, STORAGE • 10,752 SF
      7035 Wade Park Ave, Cleveland, OH 44103
      View Details
    • Value Estimation
      $1,185,000
      24,114 SF

      1174 55th St

      WAREHOUSE, STORAGE • 24,114 SF
      1174 55th St, Cleveland, OH 44103
      View Details
    • Value Estimation by Request
      700 SF

      1055 61st St

      WAREHOUSE, STORAGE • 700 SF
      1055 61st St, Cleveland, OH 44103-1055
      View Details
    • Value Estimation by Request
      1,920 SF

      1655 66th St

      WAREHOUSE, STORAGE • 1,920 SF
      1655 66th St, Cleveland, OH 44103
      View Details
    • Value Estimation
      $525,000
      12,720 SF

      1599 40th St

      WAREHOUSE, STORAGE • 12,720 SF
      1599 40th St, Cleveland, OH 44103-2301
      View Details

    Similar Nearby for Sale

    • $650,000
      68,703 SF

      Cleveland Warehouse Redevelopment Opportunity

      68,703 SF Warehouse, $650K
      2181 55Th St, Cleveland, OH 44103
      View Details
    • $650,000
      23,640 SF

      Cleveland Industrial Warehouse - $650K

      Spacious warehouse with crane, ideal for industrial use.
      5317 St Clair Ave, Cleveland, OH 44103
      View Details
    • Contact for pricing
      34,620 SF

      6512 Carnegie Ave

      Life science properties • 34,620 SF
      6512 Carnegie Ave, Cleveland, OH 44103
      View Details
    • $150,000
      22,130 SF

      Industrial Building Near Lake Erie

      22,130 SF industrial building with excellent access and frontage.
      6809 Wade Park Ave, Cleveland, OH 44103
      View Details
    • $695,000
      9,537 SF

      Cleveland Clinic Flex Space

      Retail/warehouse flex space near Cleveland Clinic's main campus.
      8117 Carnegie Ave, Cleveland, OH 44103
      View Details
    • Contact for pricing
      171,680 SF

      Warehouse/Distribution Facility in Cleveland

      Turnkey warehouse/distribution facility, renovated in 2021, near I-90.
      850 E 72Nd St, Cleveland, OH 44103
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      445,682 SF

      Cleveland Tech Center - Heavy Industral/Flex/Warehouse

      Distribution properties • 445,682 SF
      799 73Rd St, Cleveland, OH 44103
      View Details
    • Contact for pricing
      6,882 SF

      Industrial Building with Crane Access

      6,882 SF industrial building featuring crane and drive-in access.
      5200 Perkins Ave, Cleveland, OH 44103
      View Details
    • $14 SF/Yr
      37,037 SF

      Warehouse, Lab, Manufacturing, Flex Space

      Warehouse, lab, manufacturing, and flex space available for lease.
      6512 Carnegie Ave, Cleveland, OH 44103
      View Details
    • $895,000
      19,654 SF

      Office Warehouse with Parking Lot

      Office warehouse featuring private offices, parking, and loading docks.
      1361 E 55Th St, Cleveland, OH 44103
      View Details
    • $5 SF/Yr
      8,000 SF

      Freestanding Brick Building For Lease

      Freestanding brick building with drive-in and short dock.
      4130-4210 Commerce Ave, Cleveland, OH 44103
      View Details
    • Contact for pricing
      14,476 SF

      Industrial Space Near Rail Access

      14,476 SF industrial building with dock loading.
      5000-5200 Perkins Ave, Cleveland, OH 44103
      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.
    1210 55th St, Unit 1230
    Cleveland, OH 44103-1029
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.