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Property profile & analytics
OFF-MARKET
Hotels
1515 3rd St Cleveland, OH 44113-1403
Entity Owned
1-yr Hold
Free & Clear
Property ID
US66-1851389
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Lot
0.3 ac (13,019 SF)
APN
101-23-072D
UPID
US66-1851389
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
-
SP+ Parking Parking Lot & Garage
-
Lodge Net Interactive Theater & Performing Art Venue Nightclub
-
Lighthouse Media Services - Event Production Electronics & Wireless Store Big Box & Wholesale Store
-
Tesla Destination Charger Electric Vehicle Charging Station
-
TURN BAR + KITCHEN Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Rha 250 LLC · 1 yrs held
Rha 250 LLC
since 2024
7 recorded transactions
Zoning & alternative use
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$9,102
Tax year 2023
Assessed value
$91,140
Assessed 2023
Previous assessed
$77,460
+17.7% YoY
Effective rate
9.99%
On assessed value
Assessed land
$91,140
Land market value
$260,400
Total market value
$260,400
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
Hotels
Use group
HOTEL
Status
Off-Market
Heating
NONE
Lot
0.3 ac (13,019 SF)
APN
101-23-072D
UPID
US66-1851389
Jurisdiction
CUYAHOGA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Lot
0.3 ac
Current owner
From public records · entity-resolved
Rha 250 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
620 WOODWARD AVE, DETROIT, MI 48226-3450
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 6, 2024
—
Rha 250 LLC
City Of Cleveland
Quit Claim Deed
related
—
Aug 5, 2024
—
City Of Cleveland
Sapphire Acquisitions LLC
Quit Claim Deed
related
—
Feb 29, 2016
$12,100,000
Rha 250 LLC
Rock Ohio Caesars Hotel LLC
Warranty Deed
—
Jan 11, 2013
—
Rock Oh Caesars Hotel LLC
—
Deed Of Trust
related
$460,000,000 · Credit Suisse Ag
Dec 22, 2011
$31,500,000
Rock Oh Caesars Hotel LLC
Dcfc LLC
Grant Deed
$350,000,000 · Credit Suisse Ag
Dec 14, 2011
—
Dcfc LLC
Tower City Hotel Cmnty Urban D
Quit Claim Deed
related
—
—
—
Rock Ohio Caesars Hotel LLC
—
Loan Modification
related
$570,000,000 · Credit Suisse Ag
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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