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Property profile & analytics
FOR LEASE
Retail space
1375 E 9Th St, Cleveland, OH 44114
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US66-5847503
For Lease
1 / 2
$22 SF/Yr
1375 E 9Th St, Cleveland, OH 44114
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1982
Construction
STEEL FRAME
Total area
598,455 SF
Lot
1.34 ac (58,331 SF)
Zoning code
SI
APN
101-34-012
UPID
US66-5847503
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
Current use
Occupant on record · Public records
-
Charles F. Adler Law Firm
-
Robert H. Jackson Law Firm
-
Cleveland Metropolitan Conference Center Hotel & Motel Resort
-
One Cleveland Center Business Service Center Corporate Office
-
A Lawyer Referral Services Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.28M
Blend (final)
Blend
$32.30M
Owner & transaction history
Optima 1375 II LLC · 8 yrs held
Optima 1375 II LLC
since 2017
7 recorded transactions
Zoning & alternative use
SI · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$53.2M
+38.8%
Commercial (general)
$49.6M
+29.3%
Apartment house (5+ units)
$44.3M
+15.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$38,355,000
Current use
AUTO REPAIR, GARAGE
$53,245,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$49,595,000
Change: +29% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$44,280,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$32.30M
Range $29.07M – $35.53M · ±10%
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
$54 / 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
$1,825,309
Tax year 2023
Assessed value
$17,517,470
Assessed 2023
Previous assessed
$17,517,470
+0.0% YoY
Effective rate
10.42%
On assessed value
Assessed land
$2,449,900
Assessed improvement
$15,067,570
Land market value
$6,999,700
Improvement market value
$43,050,200
Total market value
$50,049,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1982
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
CENTRAL
Buildings
3
Stories
31
Total area
598,455 SF
Lot
1.34 ac (58,331 SF)
Zoning code
SI
APN
101-34-012
UPID
US66-5847503
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
RETAIL STORES Current
Est. value
$38.4M
AUTO REPAIR, GARAGE
Est. value
$53.2M
COMMERCIAL (GENERAL)
Est. value
$49.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$44.3M
RETAIL STORES 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
1982
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
31
Buildings
3
Lot
1.34 ac
Current owner
From public records · entity-resolved
Optima 1375 II LLC
Entity
Mailing address
1375 E 9TH ST, CLEVELAND, OH 44114-1739
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 17, 2017
—
Optima 1375 II LLC
Optima 1375 LLC
Quit Claim Deed
related
$114,000,000 · Rialto Mtg Fin
Aug 19, 2010
—
Optima 1375 LLC
Optima One Cleveland Ctr LLC
Quit Claim Deed
related
$75,200,000 · Citigroup Global Markets Realt
May 15, 2008
—
Optima One Cleveland Ctr LLC
Caragol,stephen R & Michelle M
Quit Claim Deed
related
—
May 15, 2008
$86,250,000
Optima One Cleveland Ctr LLC
Tic Occ Ainley LLC
Grant Deed
—
Mar 4, 2005
$8,493,223
Tic Occ Fuller LLC
One Cleveland Center LLC
Grant Deed
$50,062,500 · 40/86 Mortgage Capital INC
Feb 7, 2005
$39,225,740
Tic Occ Ainley LLC
One Cleveland Center LLC
Grant Deed
—
Jan 20, 2005
$28,486,270
Tic Occ Dudley LLC
One Cleveland Center LLC
Grant Deed
—
Sep 22, 2004
$65,550,000
One Cleveland Center LLC
Cleveland Center Investors LLC
Grant Deed
related
$50,062,500 · 40/86 Mortgage Capital INC
—
—
Optima One Cleveland Center Ll
—
Deed Of Trust
related
$45,240,738 · Bankers Life & Casualty Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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