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Property profile & analytics
OFF-MARKET
Estimated value
$12,000,000
Parking lots & garages
2045 Cir Dr Cleveland, OH 44106
Individually Owned
Free & Clear
Property ID
US66-2344282
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1988
Construction
CONCRETE
Total area
435,393 SF
Lot
1.57 ac (68,593 SF)
Zoning code
GR
APN
121-03-022
UPID
US66-2344282
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
-
Parking Lot 61 - UH employees only Parking Lot & Garage
-
Lot 59 University Hospitals Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.00M
Owner & transaction history
University Hospitals Helath System
University Hospitals Helath System
since 2025
3 recorded transactions
Zoning & alternative use
GR · Cleveland, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$28 / 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
Assessed value
$5,955,670
Assessed 2023
Previous assessed
$5,955,670
+0.0% YoY
Assessed land
$528,150
Assessed improvement
$5,427,520
Land market value
$1,509,000
Improvement market value
$15,507,200
Total market value
$17,016,200
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1988
Construction
CONCRETE
Heating
NONE
Cooling
NONE
Stories
7
Bathrooms
1
Total area
435,393 SF
Lot
1.57 ac (68,593 SF)
Zoning code
GR
APN
121-03-022
UPID
US66-2344282
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.
Building & site characteristics
From public records
Year built
1988
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
7
Bathrooms
1
Lot
1.57 ac
Current owner
From public records · entity-resolved
University Hospitals Helath System
Individual
Free & Clear · 0 yrs held
Mailing address
2045 CIR DR, CLEVELAND, OH 44106
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2025
—
University Hospitals Helath System
Ohio Higher Edu Facility Commission
Deed
—
Sep 1, 2020
—
University Circle INC
—
Deed
related
$79,275,000 · Us Bk
—
—
University Circle INC
—
Deed Of Trust
related
$79,275,000 · Us Bk
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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