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Property profile & analytics
OFF-MARKET
Estimated value
$19,205,000
Hotels
2021 Cornell Rd Cleveland, OH 44106-3808
Individually Owned
3-yr Hold
Free & Clear
Property ID
US66-3948783
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2012
Construction
TYPE NOT SPECIFIED
Total area
101,458 SF
Lot
0.41 ac (17,963 SF)
Zoning code
GR
APN
121-01-005
UPID
US66-3948783
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
-
Courtyard Cleveland University Circle Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.89M
Blend (final)
Blend
$19.21M
Owner & transaction history
Apple Hospitality Cleveland 7138 Ll · 3 yrs held
Apple Hospitality Cleveland 7138 Ll
since 2023
Last sale
$20.5M
3 recorded transactions
Zoning & alternative use
GR · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.1M
+54.1%
Office building
$16.4M
+47.7%
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
$17,885,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$17,115,000
Change: +54% · Conversion: Difficult
OFFICE BUILDING
$16,410,000
Change: +48% · Conversion: Difficult
Blend value · Realmo final
$19.21M
Range $17.28M – $21.13M · ±10% · vs last sale $20.53M (Jul 7 2023)
Last sale anchor
$20.53M
Jul 7 2023
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
$189 / 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
$496,820
Tax year 2023
Assessed value
$4,974,590
Assessed 2023
Previous assessed
$4,974,590
+0.0% YoY
Effective rate
9.99%
On assessed value
Assessed land
$534,420
Assessed improvement
$4,440,170
Land market value
$1,526,900
Improvement market value
$12,686,200
Total market value
$14,213,100
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
Year built
2012
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
WALL UNIT
Stories
8
Units
153
Total area
101,458 SF
Lot
0.41 ac (17,963 SF)
Zoning code
GR
APN
121-01-005
UPID
US66-3948783
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
RESTAURANT
Est. value
$17.1M
OFFICE BUILDING
Est. value
$16.4M
RESTAURANT
OFFICE 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
2012
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
8
Units
153
Lot
0.41 ac
Current owner
From public records · entity-resolved
Apple Hospitality Cleveland 7138 Ll
Individual
Free & Clear · 3 yrs held
Mailing address
814 E MAIN ST, RICHMOND, VA 23219-3306
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2023
$20,526,000
Apple Hospitality Cleveland 7138 Ll
Sdc Uc Fee Owner LLC
Limited Warranty Deed
—
Jun 6, 2011
—
City Of Cleveland Oh
University Circle East LLC
Quit Claim Deed
related
—
Sep 18, 2003
—
University Circle East LLC
University Circle INC
Quit Claim Deed
related
$4,200,000 · Provident Savings Bank
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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