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Property profile & analytics
OFF-MARKET
Estimated value
$34,480,000
Office buildings
1501 Lakeside E Ave Cleveland, OH 44114-1138
Entity Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-1800451
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Construction
TYPE NOT SPECIFIED
Total area
207,404 SF
Lot
6.13 ac (266,805 SF)
Zoning code
SI
APN
102-02-004
UPID
US66-1800451
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
-
Federal Bureau of Investigation Federal Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$46.32M
Comparable Approach
Comparable
$37.03M
Blend (final)
Blend
$34.48M
Owner & transaction history
Cleveland Bluffs Dev LLC · 25 yrs held
Cleveland Bluffs Dev LLC
since 2000
7 recorded transactions
Zoning & alternative use
SI · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$35.0M
+45.7%
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%
$50,175,000
6.5%
$46,315,000
7%
$43,005,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$24,015,000
Current use
RESTAURANT
$34,985,000
Change: +46% · Conversion: Moderate
MEDICAL BUILDING
$22,535,000
Change: -6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$21,010,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$34.48M
Range $31.03M – $37.93M · ±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
$166 / 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
$737,640
Tax year 2023
Assessed value
$7,054,190
Assessed 2023
Previous assessed
$7,054,190
+0.0% YoY
Effective rate
10.46%
On assessed value
Assessed land
$1,867,640
Assessed improvement
$5,186,550
Land market value
$5,336,100
Improvement market value
$14,818,700
Total market value
$20,154,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2000
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Total area
207,404 SF
Lot
6.13 ac (266,805 SF)
Zoning code
SI
APN
102-02-004
UPID
US66-1800451
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
OFFICE BUILDING Current
Est. value
$24.0M
RESTAURANT
Est. value
$35.0M
MEDICAL BUILDING
Est. value
$22.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$21.0M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2000
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
4
Lot
6.13 ac
Current owner
From public records · entity-resolved
Cleveland Bluffs Dev LLC
Entity
Mailing address
1370 W 6TH ST STE #206, CLEVELAND, OH 44113-1315
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2022
—
Cleveland Bluffs Development LLC
—
Deed
related
$36,000,000 · Cardinal Cu INC
Dec 28, 2018
—
Cleveland Bluffs Dev LLC
—
Grant Deed
related
$30,000,000 · Atlanta Postal Cu
Dec 30, 2016
—
Cleveland Bluffs Dev LLC
—
Deed
related
$20,000,000 · Atlanta Postal Cu
Jan 28, 2013
—
Cleveland Assets LLC
—
Deed Of Trust
related
$15,389,585 · Firstmerit Bank NA
Jul 15, 2005
—
Cleveland Assets LLC
—
Deed Of Trust
related
$29,850,000 · Republic Bank
Aug 1, 2001
—
1476 Davenport LP
—
Deed Of Trust
related
$1,450,000 · Park View Fsb
Oct 4, 2000
—
Cleveland Bluffs Dev LLC
1476 Davenport LP
Grant Deed
related
—
Jan 14, 2000
—
1476 Davenport LP
—
Deed Of Trust
related
$500,000 · Park View Fsb
—
—
1476 Davenport LP
—
Deed Of Trust
related
$100,000 · Park View Fsb
—
—
1476 Davenport LP
—
Deed Of Trust
related
$600,000 · Park View Fsb
—
—
Cleveland Bluffs Dev LLC
—
Deed Of Trust
related
$29,850,000 · Republic Bk
—
—
Cleveland Bluffs Dev LLC
—
Deed Of Trust
related
$20,000,000 · Atlanta Postal Cu
—
—
Cleveland Bluffs Dev LLC
—
Loan Modification
related
$13,285,265 · Firstmerit Bk
—
—
Cleveland Bluffs Dev LLC
—
Deed Of Trust
related
$400,000 · Citizens Federal Bank Fsb
—
—
Cleveland Assets LLC
—
Deed Of Trust
related
$400,000 · Citizens Federal Bank Fsb
—
—
Cleveland Bluffs Dev LLC
—
Deed Of Trust
related
$2,000,000 · Firstmerit Bk
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.
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