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    1400 55th St Cleveland, OH 44103-1304
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    1400 55th St Cleveland, OH 44103-1304

    View on Map
    • Office buildings
    • 18,550 SF
    • 0.68 lot acres
    Off-Market
    Property ID
    US66-2468827
    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
    $2,270,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Northern Ohio Recovery Association / Medical Clinic
    • Patricia Griggs / Crisis Center / Medical Clinic
    • Sheres Anderson / Foster Care Service / Social Service Agency
    • Shilah Kidd / Counselor
    • Flora Stone Mather Early Childhood And Family Service Center / High School

    Property Details for 1400 55th St

    Year built
    2006
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.68 lot acres
    Property size
    18,550 SF
    Zone code
    SI
    Property type
    Office buildings
    APN
    104-11-015
    APU
    10411015

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,708,000
      Market price range: $1.16M - $5.97M
      AI Estimate
      $1,542,000
      Market price range: $495k - $3.03M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,870,000
      Current use
      RESTAURANT
      $3,130,000
      Change: +9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6524
    Latitude
    41.5207
    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
    $30,546
    $49,980
    $255,400
    $305,380
    -
    $142,800
    $729,700
    $872,500

    Comparable in this City

    • Value Estimation
      $895,000
      6,300 SF

      5124 Saint Clair Ave

      OFFICE BUILDING • 6,300 SF
      5124 Saint Clair Ave, Cleveland, OH 44103-1202
      View Details
    • Value Estimation
      $19,110,000
      80,902 SF

      6700 Euclid Ave, Unit 6720

      OFFICE BUILDING • 80,902 SF
      6700 Euclid Ave, Cleveland, OH 44103-3956
      View Details
    • Value Estimation
      $33,990,000
      166,578 SF

      7012 Euclid Ave

      OFFICE BUILDING • 166,578 SF
      7012 Euclid Ave, Cleveland, OH 44103-4014
      View Details
    • Value Estimation by Request
      6,051 SF

      5320 Stanard Ave

      OFFICE BUILDING • 6,051 SF
      5320 Stanard Ave, Cleveland, OH 44103-1337
      View Details
    • Value Estimation by Request
      1,923 SF

      6017 Superior Ave

      OFFICE BUILDING • 1,923 SF
      6017 Superior Ave, Cleveland, OH 44103-1447
      View Details
    • Value Estimation
      $3,230,000
      29,696 SF

      1804 55th St

      OFFICE BUILDING • 29,696 SF
      1804 55th St, Cleveland, OH 44103-3602
      View Details

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      19,654 SF

      Office Warehouse with Parking Lot

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    Similar Nearby for Lease

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      34,000 SF

      Historic Brick and Beam Office

      High-quality office loft with gated parking and open offices.
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      Move-in ready office space with upgraded finishes and highway access.
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      Customizable Office Space Available

      Adaptable office space with downtown views and parking.
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      2,000 SF

      Freestanding Building with Individual Kitchens

      17,600 sq ft building with thirty individual kitchens.
      1990 E 40Th St, Cleveland, OH 44103
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      13,705 SF

      Industrial Building with Drive-In Access

      13,705 SF industrial building with drive-in loading.
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    • Contact for pricing

      Cleveland Tech Center Flex Space

      Flex business incubators for lease with planned renovations.
      799 E 73Rd St, Cleveland, OH 44103
      View Details
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    Cleveland, OH 44103-1304
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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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