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    12400 Saint Clair Ave, Unit 12438 Cleveland, OH 44108-2014
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    Property profile & analytics

    12400 Saint Clair Ave, Unit 12438, Cleveland, OH 44108-2014

    View on Map
    • Grocery and convenience stores
    • 8,949 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Jul 18, 2023
    $1,575,000
    Property ID
    US66-5709154
    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
    $1,450,000
    Show details
    Cap Rate Potential
    6.3%
    Grocery and convenience stores
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 12400 Saint Clair Ave

    Year built
    1963
    Lot size
    0.23 lot acres
    Zone code
    LR
    Property type
    Grocery and convenience stores
    APN
    110-06-094
    APU
    11006094

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 18, 2023 $1,575,000 Janes Ventures LLC 125th & St Clair Street Company LLC Warranty Deed —
    Jul 28, 2022 $70,000 125 & St Clair Street Company LLC Eric M Silver Fiduciary Deed —
    Jul 8, 2020 — 125th & St Clair Street Co LLC — Deed · related $83k · Farmers Nat'l Bk/canfield
    Oct 18, 2018 — 12432 St Clatr LLC Adams,bernard Quit Claim Deed · related —
    Apr 27, 2018 — 125th & St Clair Street Co LLC — Deed · related $630k · Farmers Nat'l Bk/canfield
    — — 125th & St Clair Street Co LLC — Deed Of Trust · related $665k · Firstmerit Bank NA
    — — 125th & St Clair Street Co LLC — Deed Of Trust · related $83k · Farmers Nat'l Bk/canfield
    — — 125th & St Clair Street Co LLC — Deed Of Trust · related $630k · Farmers Nat'l Bk/canfield
    — — 125th & St Clair Street Co LLC — Deed Of Trust · related $630k · Farmers Nat'l Bk/canfield

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,375,000
      ML approach
      $1,395,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,435,000
      6.5%
      $1,325,000
      7%
      $1,230,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,510,000
      OFFICE BUILDING
      $1,445,000
      MEDICAL BUILDING
      $970,000
      NEIGHBORHOOD: SHOPPING CENTER
      $905,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5985
    Latitude
    41.5411
    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
    $570
    $5,710
    $0.00
    $5,710
    -
    $16,300
    $0.00
    $16,300

    Comparable in this City

    • Value Estimation
      $570,000
      3,192 SF

      11500 Saint Clair Ave

      CONVENIENCE STORE
      11500 Saint Clair Ave, Cleveland, OH 44108-1927
      View Details
    • Value Estimation by Request
      2,400 SF

      11005 Saint Clair Ave

      CONVENIENCE STORE
      11005 Saint Clair Ave, Cleveland, OH 44108-1940
      View Details
    • Value Estimation by Request
      1,582 SF

      12307 Saint Clair Ave

      CONVENIENCE STORE
      12307 Saint Clair Ave, Cleveland, OH 44108-2011
      View Details
    • Value Estimation
      $1,275,000
      0.19 Acres

      St Clair Ave

      GROCERY, SUPERMARKET
      St Clair Ave, Cleveland, OH 44108
      View Details
    • Value Estimation
      $1,600,000
      16,380 SF

      12432 Saint Clair Ave

      GROCERY, SUPERMARKET
      12432 Saint Clair Ave, Cleveland, OH 44108-2014
      View Details
    • Value Estimation by Request
      1,064 SF

      1163 123rd St

      CONVENIENCE STORE
      1163 123rd St, Cleveland, OH 44108-4050
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.10 Acres

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      Cleared city lot ready for purchase in Cleveland, Ohio.
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      3,232 SF

      Fully Occupied Forest Hills Apartment

      Five-unit apartment building in Forest Hills generating $4,879/month.
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    • $159,500
      Pending

      Spacious Updated Cleveland Multifamily Home

      Updated two-family home with strong income potential in Cleveland.
      747 E 117Th St, Cleveland, OH 44108
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    • New
      $325,000
      Pending

      Cleveland Multifamily Investment Opportunity

      Fully occupied 5-unit apartment building in Forest Hills neighborhood.
      630-634 Eddy Rd, Cleveland, OH 44108
      View Details
    • New
      $174,999
      4,214 SF

      Side-by-Side Duplex Investment

      Spacious duplex with independent living setups, separate entrances, and rental income from one unit.
      10116 North Blvd, Cleveland, OH 44108
      View Details
    • New
      $162,500
      4,214 SF

      Side-by-Side Duplex with Separate Utilities

      Side-by-side duplex with separate gas and electric meters, front and rear entrances, and one rent-ready unit.
      10116 North Blvd, Cleveland, OH 44108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,316 SF

      Retail Building with Drive-Thru

      11,316 SF retail building with drive-thru, ground lease available.
      10502 St Clair Ave, Cleveland, OH 44108
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space on St Clair

      Retail spaces available at high-traffic intersection of E. 105th.
      10310-10430 St Clair Ave, Cleveland, OH 44108
      View Details
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    Cleveland, OH 44108-2014
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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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