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Property profile & analytics
OFF-MARKET
Estimated value
$31,845,000
Retail space
1801 12th St Cleveland, OH 44114-3500
Entity Owned
Free & Clear
Property ID
US66-2299000
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1968
Construction
CONCRETE
Total area
440,427 SF
Lot
1.24 ac (54,211 SF)
Zoning code
GR
APN
101-37-001
UPID
US66-2299000
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
-
Alfred 12 Hotel & Motel
-
The Luckman Real Estate Agency
-
CATCHAPP LLC HEADQUATERS Business Park Industrial Park
-
Barsala at Luckman Hotel & Motel
-
Sphere Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$42.48M
Blend (final)
Blend
$31.85M
Owner & transaction history
Fbrt Liv Cleveland LLC
Fbrt Liv Cleveland LLC
since 2025
7 recorded transactions
Zoning & alternative use
GR · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$51.0M
+80.7%
Medical building
$47.9M
+69.5%
Neighborhood: shopping center
$44.6M
+58.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$28,225,000
Current use
OFFICE BUILDING
$51,000,000
Change: +81% · Conversion: Easy
MEDICAL BUILDING
$47,855,000
Change: +70% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$44,615,000
Change: +58% · Conversion: Moderate
AUTO REPAIR, GARAGE
$39,185,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$36,500,000
Change: +29% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$32,585,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$31.85M
Range $28.66M – $35.03M · ±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
$72 / 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
$1,099,337
Tax year 2023
Assessed value
$10,500,010
Assessed 2023
Previous assessed
$10,500,010
+0.0% YoY
Effective rate
10.47%
On assessed value
Assessed land
$1,517,920
Assessed improvement
$8,982,090
Land market value
$4,336,900
Improvement market value
$25,663,100
Total market value
$30,000,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1968
Construction
CONCRETE
Heating
HOT WATER
Cooling
CENTRAL
Buildings
2
Stories
20
Units
411
Total area
440,427 SF
Lot
1.24 ac (54,211 SF)
Zoning code
GR
APN
101-37-001
UPID
US66-2299000
Jurisdiction
CUYAHOGA
Zoning & alternative use
GR · Cleveland, OH
Zoning GR · permitted uses
GR · 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
RETAIL STORES Current
Est. value
$28.2M
OFFICE BUILDING
Est. value
$51.0M
MEDICAL BUILDING
Est. value
$47.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$44.6M
AUTO REPAIR, GARAGE
Est. value
$39.2M
COMMERCIAL (GENERAL)
Est. value
$36.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$32.6M
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1968
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
20
Buildings
2
Units
411
Lot
1.24 ac
Current owner
From public records · entity-resolved
Fbrt Liv Cleveland LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1801 E 12TH ST, CLEVELAND, OH 44114-3500
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2025
$16,000,100
Fbrt Liv Cleveland LLC
Sphere Apartments LP
Deed
related
—
Feb 6, 2025
—
Bsprt Jpm Loan LLC
—
Deed
related
—
Nov 12, 2024
—
Sphere Apartments LP
—
Deed
related
—
Jun 16, 2023
—
Bsprt Cre Finance LLC
—
Deed
related
—
Jan 29, 2020
—
Sphere Apartments LP
—
Deed
related
$37,025,000 · Bsprt 2019-fl5 Issuer Ltd
Apr 23, 2018
—
Sphere Apartments LLC
Mpa-chesterfield LLC
Grant Deed
related
$35,900,000 · Benefit Street Ptrs Realty Ope
Sep 28, 1998
$10,300,000
Mpa Chesterfield LLC
Bgr Associates
Grant Deed
—
—
—
Mpa-chesterfield LLC
—
Deed Of Trust
related
$13,640,430 · Mortgage Capital Associates
—
—
Sphere Apartments LP
—
Loan Modification
related
$37,025,000 · Bsprt 2019-fl5 Issuer Ltd
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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