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Property profile & analytics
OFF-MARKET
Estimated value
$3,120,000
Theaters & concert halls
1621 Euclid Ave Cleveland, OH 44115-2114
Individually Owned
4-yr Hold
Free & Clear
Property ID
US66-0922562
Property profile
Verified
Property type
Theaters & concert halls
Use group
AUDITORIUM
Year built
1921
Total area
32,521 SF
Lot
0.75 ac (32,521 SF)
APN
103-01-326
UPID
US66-0922562
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
-
Consult Mango, Inc Training Center
-
Adelphi Health Insurance Insurance Agency
-
Principal Financial Group: Duncan Elaine Insurance Agency
-
Muskovitz & Lemmerbrock Law Firm
-
OnShift (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.91M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.12M
Owner & transaction history
Playhouse Square Foundation · 4 yrs held
Playhouse Square Foundation
since 2022
Last sale
$3.4M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.9M
+337.2%
Commercial (general)
$3.5M
+289.0%
Auto repair, garage
$3.4M
+272.9%
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
$2,770,000
ML approach
$2,905,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,935,000
Change: +337% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,500,000
Change: +289% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,355,000
Change: +273% · Conversion: Difficult
MEDICAL BUILDING
$2,520,000
Change: +180% · Conversion: Difficult
Blend value · Realmo final
$3.12M
Range $2.81M – $3.43M · ±10% · vs last sale $3.40M (Feb 2 2022)
Last sale anchor
$3.40M
Feb 2 2022
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
$96 / 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
$39,636
Tax year 2023
Assessed value
$396,870
Assessed 2023
Effective rate
9.99%
On assessed value
Assessed land
$113,820
Assessed improvement
$283,050
Land market value
$325,200
Improvement market value
$808,700
Total market value
$1,133,900
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
Theaters & concert halls
Use group
AUDITORIUM
Status
Off-Market
Year built
1921
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Total area
32,521 SF
Lot
0.75 ac (32,521 SF)
APN
103-01-326
UPID
US66-0922562
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
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1921
Heating
HOT WATER
Cooling
Yes
Stories
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Playhouse Square Foundation
Individual
Free & Clear · 4 yrs held
Mailing address
1621 EUCLID AVE, CLEVELAND, OH 44115-2114
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2022
$3,400,000
Playhouse Square Foundation
1621 Keith Euclid Ltd
Limited Warranty Deed
—
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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