Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2033 Cornell Rd, Unit 2071 Cleveland, OH 44106-3808

    • Parking lots & garages
    • 283,924 SF
    • 3.51 lot acres
    OFF-MARKET
    Value Estimations
    $8,680,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2304805
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 2033 Cornell Rd

    Year built
    1990
    Lot size
    3.51 lot acres
    Property size
    283,924 SF
    Zone code
    GR
    Property type
    Parking lots & garages
    APN
    121-01-009
    APU
    12101009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6043
    Latitude
    41.5077
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,162
    $1,176,630
    $3,142,830
    $4,319,460
    -
    $3,361,800
    $8,979,500
    $12,341,300

    Comparable in this City

    • Value Estimation by Request
      0.18 Acres

      9307 Superior Ave

      RESIDENTIAL PARKING GARAGE • 0.18 Acres
      9307 Superior Ave, Cleveland, OH 44106
      View Details
    • Value Estimation by Request
      0.10 Acres

      8709 Kenmore Ave

      RESIDENTIAL PARKING GARAGE • 0.10 Acres
      8709 Kenmore Ave, Cleveland, OH 44106-4509
      View Details
    • Value Estimation by Request
      0.11 Acres

      2227 101st St

      RESIDENTIAL PARKING GARAGE • 0.11 Acres
      2227 101st St, Cleveland, OH 44106-3579
      View Details
    • Value Estimation by Request
      1,456 SF

      11814 Wade Park Ave

      RESIDENTIAL PARKING GARAGE • 1,456 SF
      11814 Wade Park Ave, Cleveland, OH 44106-4435
      View Details
    • Value Estimation
      $3,720,000
      58,169 SF

      11235 Bellflower Rd

      PARKING GARAGE, PARKING STRUCTURE • 58,169 SF
      11235 Bellflower Rd, Cleveland, OH 44106-3932
      View Details
    • Value Estimation
      $13,940,000
      341,674 SF

      2127 Cornell Rd

      PARKING GARAGE, PARKING STRUCTURE • 341,674 SF
      2127 Cornell Rd, Cleveland, OH 44106
      View Details

    Similar Nearby for Sale

    • $1,600,000
      8,750 SF

      Carnegie Ave Retail Redevelopment Opportunity

      Cleveland Clinic Area, 8,750 SF, High Potential
      8514 Carnegie Ave, Cleveland, OH 44106
      View Details
    • $1,600,000
      8,750 SF

      Retail Opportunity Near Cleveland Clinic

      Retail property for sale near the Cleveland Clinic main campus.
      8514 Carnegie Ave, Cleveland, OH 44106
      View Details
    • $1,700,000
      5,051 SF

      Turnkey Restaurant with Liquor License

      Second generation restaurant space with partnership opportunity and liquor license.
      2175 Cornell Rd, Cleveland, OH 44106
      View Details
    • $409,900
      2,304 SF

      Upgraded Townhome with Skyline View

      Turnkey, three-story townhome built in 2021 near University Circle.
      1497 E 120Th St, Cleveland, OH 44106
      View Details
    • $199,999
      3,439 SF

      Cleveland Multifamily Property for Sale

      Multifamily property in Cleveland, Ohio, totaling 3,439 square feet.
      2179 E 93Rd St, Cleveland, OH 44106
      View Details
    • Contact for pricing
      0.09 Acres

      Residential Lot in Cleveland, OH

      Cleared 3,720 sq ft residential lot in Newcomb neighborhood.
      2256 E 85Th St, Cleveland, OH 44106
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,350 SF

      Retail Space in Coventry Village

      Retail space for lease in a walkable Cleveland Heights neighborhood.
      2768-2770 Mayfield Rd, Cleveland Heights, OH 44106
      View Details
    • Contact for pricing
      1,320 SF

      Retail Space in University Circle

      Premier retail space in Cleveland's thriving University Circle District.
      11401-11431 Euclid Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      35,755 SF

      University Circle Retail Space Available

      Retail space for lease in University Circle development project.
      10600 Chester Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      533,000 SF

      University Circle Restaurant Space

      Prime Euclid Ave location, 3,982 SF, patio.
      10730 Euclid Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      9,100 SF

      Life Science Hub Near University

      80,000 SF facility for life science and healthcare startups.
      11000 Cedar Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      8,986 SF

      Premium Office Space in Cleveland

      8,986 SF office space with first-class amenities.
      1999 Circle Dr, Cleveland, OH 44106
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2033 Cornell Rd, Unit 2071
    Cleveland, OH 44106-3808
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.