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

    1368 55th St Cleveland, OH 44103-1316

    • Office buildings
    • 7,372 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Dec 15, 2023
    $275,000
    Value Estimations
    $370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1517090
    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

    • Office buildings

    Property Details for 1368 55th St

    Year built
    1905
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.11 lot acres
    Property size
    7,372 SF
    Zone code
    GR
    Property type
    Office buildings
    APN
    104-12-040
    APU
    10412040

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $325,000
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $500,000
      Market price range: $460k - $2.37M
      AI Estimate
      $284,000
      Market price range: $197k - $1.20M

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6522
    Latitude
    41.5217
    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
    $5,636
    $6,760
    $49,670
    $56,430
    -
    $19,300
    $141,900
    $161,200

    Comparable in this City

    • Value Estimation
      $425,000
      9,868 SF

      7724 Lexington Ave

      OFFICE BUILDING • 9,868 SF
      7724 Lexington Ave, Cleveland, OH 44103-4151
      View Details
    • Value Estimation
      $390,000
      5,384 SF

      1419-01423 40th St

      OFFICE BUILDING • 5,384 SF
      1419-01423 40th St, Cleveland, OH 44103
      View Details
    • Value Estimation
      $305,000
      500 SF

      7010 Hough Ave

      OFFICE BUILDING • 500 SF
      7010 Hough Ave, Cleveland, OH 44103-4026
      View Details
    • Value Estimation
      $145,000
      1,748 SF

      7407 Cedar Ave

      OFFICE BUILDING • 1,748 SF
      7407 Cedar Ave, Cleveland, OH 44103-4957
      View Details
    • Value Estimation
      $395,000
      2,115 SF

      1789 45th St

      OFFICE BUILDING • 2,115 SF
      1789 45th St, Cleveland, OH 44103-2318
      View Details
    • Value Estimation
      $245,000
      0.19 Acres

      5900 Saint Clair Ave

      OFFICE BUILDING • 0.19 Acres
      5900 Saint Clair Ave, Cleveland, OH 44103-1436
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,000 SF

      Historic Brick and Beam Office

      High-quality office loft with gated parking and open offices.
      1457 E 40Th St, Cleveland, OH 44103
      View Details
    • $3,504,550
      41,230 SF

      Midtown Cleveland Office Building

      1.7-year lease, 41,230 SF, 8% cap rate
      1906 40Th St, Cleveland, OH 44103
      View Details
    • $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
    • $89,000
      2,340 SF

      Versatile Cleveland Building with Apartments

      Multi-purpose building with apartments and flexible space for various uses.
      920-924 E 79Th St, Cleveland, OH 44103
      View Details
    • $70,000
      2,396 SF

      Duplex Investment Opportunity in Cleveland

      Two-unit duplex in Cleveland, one unit rented at $550/month.
      1377 E 66Th St, Cleveland, OH 44103
      View Details

    Similar Nearby for Lease

    • $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
    • $20 SF/Yr

      Customizable Office Space with Views

      Adaptable office space featuring downtown views and convenient parking.
      1975 E 61St St, Cleveland, OH 44103
      View Details
    • $15 SF/Yr
      4,463 SF

      Midtown Cleveland Office Suites

      Flexible Office Space, 100-9,500 sq ft
      4415 Euclid Ave, Cleveland, OH 44103
      View Details
    • $12 SF/Yr
      4,692 SF

      Finished Office Space For Rent

      Move-in ready office space with upgraded finishes and highway access.
      5500 S Marginal Rd, Cleveland, OH 44103
      View Details
    • $1,100 /Mo
      3,424 SF

      Retail/Office Space in Cleveland, OH

      Retail or office space available for rent in Cleveland, OH.
      6107 Saint Clair #2 Ave, Cleveland, OH 44103
      View Details
    • $17 SF/Yr
      5,626 SF

      Customizable Office Space Available

      Adaptable office space with downtown views and parking.
      6001 Euclid 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.
    1368 55th St
    Cleveland, OH 44103-1316
    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.