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    13609 Lakewood Hts Blvd Cleveland, OH 44107-6120
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    Property profile & analytics

    13609 Lakewood Hts Blvd, Cleveland, OH 44107-6120

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    • Outlet malls
    • 11,900 SF
    • 0.62 lot acres
    Off-Market
    Property ID
    US66-1516693
    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

    • La Plaza Taqueria / Restaurant
    • 57 Insurance Agency Ohio / Insurance Agency
    • Milan LLC / Property Management Company
    • La Plaza Supermarket / Specialty Food Shop / Supermarket
    • Vigo / Bank / Credit Union

    Property Details for 13609 Lakewood Hts Blvd

    Year built
    1938
    Construction
    WOOD
    Lot size
    0.62 lot acres
    Zone code
    GR
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    021-06-001
    APU
    2106001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 25, 2022 — Jacona 266 LLC — Deed · related $2.2M · Northwest Bank
    Aug 24, 2020 — Jacona 266 LLC — Deed · related $720k · Gator Heaven LLC
    Nov 26, 2019 — Jacona 266 LLC — Deed · related $756k · Velocity Com'l Cap
    Oct 2, 2019 — Jacona 266 LLC Ortega Ramiro Living Trust Warranty Deed · related —
    Mar 17, 2017 — Ortega,ramiro Living Trust Ortega,ramiro Quit Claim Deed · related —
    Oct 22, 2014 $80,000 Ramiro Ortega Cregar Robert Trust Quit Claim Deed · related $210k · Cregar Robert W (te)
    Dec 6, 2012 $140,000 Cregar Robert Trust Sheriff Of Cuyahoga County Trustees Deed —
    Feb 27, 2003 $488,000 Rego Properties INC 8934 Brecksville Rd Realty Co Grant Deed —
    — — Jacona 266 LLC — Deed Of Trust · related $756k · Velocity Com'l Cap
    — — Rego Properties INC — Deed Of Trust · related $90k · Rego Sam Trust
    — — Rego Properties INC — Deed Of Trust · related $660k · National City Bank
    — — Rego Properties INC — Deed Of Trust · related $661k · National City Bank
    — — Jacona 266 LLC — Deed Of Trust · related $720k · Gator Heaven LLC

    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
    -81.7861
    Latitude
    41.4702
    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
    $16,824
    $41,790
    $126,670
    $168,460
    -
    $119,400
    $361,900
    $481,300

    Comparable in this City

    • Value Estimation
      $6,775,000
      61,406 SF

      14833 Detroit Ave, Unit 15009

      SHOPPING CENTER, STRIP CENTER
      14833 Detroit Ave, Lakewood, OH 44107-3909
      View Details
    • Value Estimation
      $1,190,000
      12,550 SF

      12212 Madison Ave, Unit 12224

      SHOPPING CENTER, STRIP CENTER
      12212 Madison Ave, Lakewood, OH 44107-5030
      View Details
    • Value Estimation
      $1,080,000
      14,853 SF

      16200 Madison Ave, Unit 16214

      SHOPPING CENTER, STRIP CENTER
      16200 Madison Ave, Lakewood, OH 44107-5619
      View Details
    • Value Estimation
      $545,000
      17,395 SF

      18196 Sloane Ave, Unit 18216

      SHOPPING CENTER, STRIP CENTER
      18196 Sloane Ave, Lakewood, OH 44107-3108
      View Details
    • Value Estimation by Request
      1.53 Acres

      15316 Detroit Ave

      SHOPPING CENTER, STRIP CENTER
      15316 Detroit Ave, Lakewood, OH 44107-3828
      View Details
    • Value Estimation
      $800,000
      6,690 SF

      11810 Madison Ave

      SHOPPING CENTER, STRIP CENTER
      11810 Madison Ave, Lakewood, OH 44107-5252
      View Details

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      22,407 SF

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      Retail and office space with leased restaurant, investor opportunity.
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      Lakewood Apartment Building Investment

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      Lakewood Lakefront Multifamily Investment

      Turnkey 25-unit multifamily property with lake views in Lakewood, Ohio.
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      Lakewood Four-Unit Multifamily Property

      Four-unit property near Lakewood Park with income potential.
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    • $339,900
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      Lakewood Duplex with Recent Updates

      Well-maintained duplex in Lakewood with updated features and convenient location.
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    Similar Nearby for Lease

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      30,000 SF

      Lakewood Mixed-Use Retail Opportunity

      New retail spaces in a transformative mixed-use project.
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    • Contact for pricing
      3,732 SF

      Lakewood Retail and Office Space

      Retail and office spaces for lease in Lakewood, Ohio.
      16300-16400 Detroit Ave, Lakewood, OH 44107
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    • Contact for pricing

      Renovated Mixed-Use Property For Rent

      Three-building site suitable for retail, office, or restaurant use.
      17919 Detroit Ave, Lakewood, OH 44107
      View Details
    • Contact for pricing
      1,001 SF

      Lakewood Mixed-Use Redevelopment Space

      Retail and office spaces available in Lakewood's premier redevelopment.
      16300-16400 Detroit Ave, Cleveland, OH 44107
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    • $175,000
      25,740 SF

      Lakewood Commercial Property For Lease

      Commercial property in a high-traffic area, ideal for various businesses.
      15111-15121 Detroit Ave, Lakewood, OH 44107
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    • Contact for pricing

      Lakewood Office Space For Rent

      Eclectic office space in historical building, utilities included.
      18611 Detroit Ave, Lakewood, OH 44107
      View Details
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    Cleveland, OH 44107-6120
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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.

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