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    12700 Shaker Blvd Cleveland, OH 44120

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    12700 Shaker Blvd Cleveland, OH 44120

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    • Apartment buildings
    • 115,748 SF
    For Sale
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    Shaker Square Multifamily Investment Opportunity For Sale
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    115,748 SF

    Shaker Square Multifamily Investment Opportunity

    103-unit multifamily property in Cleveland's Historic Shaker Square Neighborhood.

    12700 Shaker Blvd, Cleveland, OH 44120
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    Property ID
    US66-5372579
    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

    • Shaker Hall / Apartment Building

    Property Details for 12700 Shaker Blvd

    Year built
    1940
    Property size
    115,748 SF
    Property type
    Apartment buildings

    Description

    Shaker Hall consists of 103 units in Cleveland's Historic Shaker Square Neighborhood. The property has recently undergone extensive capital repairs, including suite and common area improvements, elevator upgrades, and roof updates. Shaker Hall is a seven-story elevator building with garage parking and coin laundry. Owner pays gas heat, electric, water and sewer utilities

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5943223
    Latitude
    41.4835508

    Comparable in this City

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      19,052 SF

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      Historic Shaker Square Apartment Building

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      Cleveland Multifamily Investment Portfolio

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      Cleveland Duplex Investment Opportunity

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      Renovated Triplex: Turnkey Investment Opportunity

      Fully renovated triplex in Cleveland, offering a turnkey investment opportunity.
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      Cleveland Multifamily Investment Opportunity

      Well-maintained 4-unit building near Shaker Square with value-add potential.
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      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,052 SF

      22-Unit Tudor-Style Apartment Building

      Historic charm meets modern upgrades in Cleveland's desirable district.
      13415 S Woodland Rd, Cleveland, OH 44120
      View Details
    • $1,575,000

      Historic Shaker Square Apartment Building

      28-unit apartment building in Shaker Square with updates.
      3016 S Moreland Blvd, Shaker Heights, OH 44120
      View Details
    • $140,000
      Pending

      Cleveland Multifamily Investment Portfolio

      Four-property, nine-unit portfolio in Cleveland's established rental corridors.
      2822 E 125Th St, Cleveland, OH 44120
      View Details
    • $119,000
      0.08 Acres

      Cleveland Duplex Investment Opportunity

      Well-maintained duplex in Cleveland with strong income potential.
      2901 E 121St St, Cleveland, OH 44120
      View Details
    • $229,000
      Pending

      Renovated Triplex: Turnkey Investment Opportunity

      Fully renovated triplex in Cleveland, offering a turnkey investment opportunity.
      3544 E 153Rd St, Cleveland, OH 44120
      View Details
    • $239,900
      Pending

      Cleveland Multifamily Investment Opportunity

      Well-maintained 4-unit building near Shaker Square with value-add potential.
      3423 E 140Th St, Cleveland, OH 44120
      View Details

    Similar Nearby for Lease

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      Updated 2-Bed Top Unit

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      Third Floor Suite For Rent

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      Restaurant Space Available For Rent

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      4,356 SF

      Shaker Square Restaurant Spaces Available

      Fully equipped restaurant spaces for sublease in historic Shaker Square.
      13220 Shaker Blvd, Cleveland, OH 44120
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    • Sponsored
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      OH, Shaker Heights - Chagrin Blvd

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      Medical Office Building For Rent

      Medical office space available for rent.
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    View Listing
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    Cleveland, OH 44120
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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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    12700 Shaker Blvd, Cleveland, OH, 44120
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