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Property profile & analytics
FOR LEASE
Strip malls
15020 Puritas Ave Cleveland, OH 44135
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US66-1148928
For Lease
1 / 6
$1,270,000
15020 Puritas Ave, Cleveland, OH 44135
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1956
Construction
TYPE NOT SPECIFIED
Total area
38,753 SF
Lot
5.59 ac (243,377 SF)
Zoning code
SC
APN
027-26-003
UPID
US66-1148928
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$910k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.27M
Owner & transaction history
Puritas Plaza LLC · 20 yrs held
Puritas Plaza LLC
since 2006
2 recorded transactions
Zoning & alternative use
SC · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$910,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±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
$33 / 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
$58,673
Tax year 2023
Assessed value
$587,480
Assessed 2023
Previous assessed
$587,480
+0.0% YoY
Effective rate
9.99%
On assessed value
Assessed land
$340,730
Assessed improvement
$246,750
Land market value
$973,500
Improvement market value
$705,000
Total market value
$1,678,500
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1956
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
38,753 SF
Lot
5.59 ac (243,377 SF)
Zoning code
SC
APN
027-26-003
UPID
US66-1148928
Jurisdiction
CUYAHOGA
Zoning & alternative use
SC · Cleveland, OH
Zoning SC · permitted uses
SC · 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.
Building & site characteristics
From public records
Year built
1956
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
5.59 ac
Current owner
From public records · entity-resolved
Puritas Plaza LLC
Entity
Mailing address
2481 BLOSSOM LN, BEACHWOOD, OH 44122-1522
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2006
—
Puritas Plaza LLC
Puritas Plaza Ptshp
Quit Claim Deed
related
$3,920,000 · Nationwide Life Insurance Co
—
—
Puritas Plaza LLC
—
Deed Of Trust
related
$3,325,000 · Miscellaneous Ins 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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