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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1438 45th St Cleveland, OH 44103-1100

    • Residential income homes
    • 2,170 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Aug 01, 2022
    $60,000
    Value Estimations
    $60,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2802878
    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

    • Residential income homes

    Property Details for 1438 45th St

    Year built
    1920
    Construction
    WOOD
    Lot size
    0.05 lot acres
    Property size
    2,170 SF
    Zone code
    SI
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    104-08-069
    APU
    10408069

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $60,000
      ML approach
      $90,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $80,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6595
    Latitude
    41.5157
    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
    $2,059
    $2,730
    $17,890
    $20,620
    -
    $7,800
    $51,100
    $58,900

    Comparable in this City

    • Value Estimation
      $280,000
      3,104 SF

      8110 Decker Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,104 SF
      8110 Decker Ave, Cleveland, OH 44103-2952
      View Details
    • Value Estimation
      $225,000
      3,962 SF

      6518 Quimby Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,962 SF
      6518 Quimby Ave, Cleveland, OH 44103-3274
      View Details
    • Value Estimation
      $220,000
      3,130 SF

      8014 Cedar Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,130 SF
      8014 Cedar Ave, Cleveland, OH 44103-5010
      View Details
    • Value Estimation
      $260,000
      4,586 SF

      2199 83rd St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,586 SF
      2199 83rd St, Cleveland, OH 44103-5094
      View Details
    • Value Estimation
      $235,000
      4,176 SF

      887 Ansel Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,176 SF
      887 Ansel Rd, Cleveland, OH 44103-2160
      View Details
    • Value Estimation
      $215,000
      3,584 SF

      915 72nd St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,584 SF
      915 72nd St, Cleveland, OH 44103-1067
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,314 SF

      Cleveland Mixed-Use Investment

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      Duplex Investment Opportunity in Cleveland

      Two-unit duplex in Cleveland, one unit rented at $550/month.
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      Mixed-Use Property with Restaurant

      Mixed-use property featuring a restaurant, shoe repair shop, and apartments.
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    • $85,000
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      Cleveland Multifamily Investment Opportunity

      Multifamily property in Cleveland, near downtown, parks, and transportation.
      6316 Lexington Ave, Cleveland, OH 44103
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      1,920 SF

      Duplex with Expansion Potential

      Fully occupied duplex in Cleveland with expansion potential.
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      View Details
    • New
      $149,900
      1,820 SF

      Cleveland Duplex: Income-Producing Investment

      Tenant-occupied Cleveland duplex, ideal for investors seeking immediate cash flow.
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    Similar Nearby for Lease

    • $1.72 SF/Yr
      17,424 SF

      Prime Cleveland Commercial Land

      17,424 SF Lot, Excellent Location
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    • Contact for pricing
      3,000 SF

      Restaurant with Drive Thru Available

      Freestanding 3,000 SF restaurant with drive-thru for lease.
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      View Details
    • $5 SF/Yr
      8,000 SF

      Freestanding Brick Building For Lease

      Freestanding brick building with drive-in and short dock.
      4130-4210 Commerce Ave, Cleveland, OH 44103
      View Details
    • $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
    • $4 SF/Yr
      445,682 SF

      Cleveland Tech Center - Heavy Industral/Flex/Warehouse

      Distribution properties • 445,682 SF
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    • Contact for pricing
      7,600 SF

      Euclid Avenue Retail Space Available

      Retail space available in a 109,547 SF shopping center.
      8037 Euclid Ave, Cleveland, OH 44103
      View Details
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    1438 45th St
    Cleveland, OH 44103-1100
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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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