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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Industrial land
12601212 Sumner Ave Cleveland, OH 44115
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US66-6315212
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1924
Total area
34,107 SF
Lot
0.63 ac (27,335 SF)
Zoning code
SI
APN
101-38-027
UPID
US66-6315212
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.90M
CAP Approach
CAP
$2.16M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.90M
Owner & transaction history
Eparchy Of Our Lady Of Lebanon Of L · 2 yrs held
Eparchy Of Our Lady Of Lebanon Of L
since 2024
Last sale
$1.9M
5 recorded transactions
Zoning & alternative use
SI · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.0M
+106.3%
Commercial (general)
$2.8M
+92.2%
Apartment house (5+ units)
$2.5M
+71.6%
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
$1,900,000
ML approach
$1,900,000
CAP Approach
CAP Return
Estimation
6%
$2,335,000
6.5%
$2,155,000
7%
$2,000,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,470,000
Current use
AUTO REPAIR, GARAGE
$3,035,000
Change: +106% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,825,000
Change: +92% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,525,000
Change: +72% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $1.90M (Apr 29 2024)
Last sale anchor
$1.90M
Apr 29 2024
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
$56 / 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
$19,280
Tax year 2023
Assessed value
$168,390
Assessed 2023
Previous assessed
$168,390
+0.0% YoY
Effective rate
11.45%
On assessed value
Assessed land
$168,390
Land market value
$481,100
Total market value
$481,100
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1924
Heating
YES
Stories
1
Bathrooms
1
Total area
34,107 SF
Lot
0.63 ac (27,335 SF)
Zoning code
SI
APN
101-38-027
UPID
US66-6315212
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1924
Heating
YES
Stories
1
Bathrooms
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Eparchy Of Our Lady Of Lebanon Of L
Individual
Mailing address
19300 RINALDI ST, ROCKY RIVER, OH 44116
Ownership since
2024
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
Apr 29, 2024
$1,900,000
Eparchy Of Our Lady Of Lebanon Of L
1235 Euclid Avenue Cleveland LLC
Limited Warranty Deed
$1,750,000 · Frangos Properties Group LLC
Jan 11, 2013
$170,000
Euclid Avenue Cleveland L 1235
Sheriff Of Cuyahoga County
Trustees Deed
—
Mar 4, 2004
$1,055,000
1212 Sumner Avenue Partners Ll
Progess Properties North LP
Trustees Deed
$924,000 · First Place Bank
Mar 4, 2004
—
Progress Properties North LP
Schach,harvey J
Quit Claim Deed
related
—
Dec 1, 2003
—
Cleveland Trust Co
Keybank,na Tr
Grant 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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