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Property profile & analytics
OFF-MARKET
Turn key restaurants
1975 Lee Rd, Cleveland Heights, OH 44118-2548
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US66-5784000
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1949
Construction
TYPE NOT SPECIFIED
Total area
4,489 SF
Lot
0.57 ac (24,872 SF)
Zoning code
S2
APN
687-01-029
UPID
US66-5784000
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
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
Katz Club LLC · 13 yrs held
Katz Club LLC
since 2012
6 recorded transactions
Zoning & alternative use
S2 · Cleveland Heights, 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 Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland Heights 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
$10,834
Tax year 2023
Assessed value
$72,940
Assessed 2023
Previous assessed
$72,940
+0.0% YoY
Effective rate
14.85%
On assessed value
Assessed land
$31,360
Assessed improvement
$41,580
Land market value
$89,600
Improvement market value
$118,800
Total market value
$208,400
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1949
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
4,489 SF
Lot
0.57 ac (24,872 SF)
Zoning code
S2
APN
687-01-029
UPID
US66-5784000
Jurisdiction
CUYAHOGA
Zoning & alternative use
S2 · Cleveland Heights, OH
Zoning S2 · permitted uses
S2 · Cleveland Heights, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland Heights. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1949
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Katz Club LLC
Entity
Mailing address
2720 E OVERLOOK RD, CLEVELAND HEIGHTS, OH 44106-2843
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2012
$225,000
Katz Club LLC
Fifth Third Bk
Grant Deed
$200,000 · Cleveland Heights City
May 31, 2012
—
Fifth Third Bk
Pashalis LLC
Deed In Lieu Of Foreclosure
related
—
Dec 28, 2004
$650,000
Pashalis LLC
Diner-rama
Quit Claim Deed
related
$740,000 · Fifth Third Bank
Nov 21, 2001
—
Diner Rama LP
Cleveland City (oh)
Grant Deed
$100,000 · Cleveland Electric Illuminatin
Dec 6, 1999
—
Cleveland Heights City (oh)
Brusue Associates INC
Grant Deed
related
—
—
—
Diner Rama LP
—
Deed Of Trust
related
$75,000 · Cleveland Heights City (oh)
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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