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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Office buildings
2055 Lee Rd Cleveland Heights, OH 44118-2560
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US66-1467497
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1953
Construction
WOOD
Total area
5,998 SF
Lot
0.24 ac (10,488 SF)
Zoning code
S2
APN
687-02-036
UPID
US66-1467497
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
$425k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$794k
Blend (final)
Blend
$695k
Owner & transaction history
Ccd Properties LLC · 19 yrs held
Ccd Properties LLC
since 2007
5 recorded transactions
Zoning & alternative use
S2 · Cleveland Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.0M
+4.3%
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
Method
Estimation
Statistic approach
by Request
ML approach
$425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$970,000
Current use
RESTAURANT
$1,010,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$116 / 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
$12,087
Tax year 2023
Assessed value
$84,840
Assessed 2023
Previous assessed
$84,840
+0.0% YoY
Effective rate
14.25%
On assessed value
Assessed land
$14,700
Assessed improvement
$70,140
Land market value
$42,000
Improvement market value
$200,400
Total market value
$242,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1953
Construction
WOOD
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Bathrooms
2
Total area
5,998 SF
Lot
0.24 ac (10,488 SF)
Zoning code
S2
APN
687-02-036
UPID
US66-1467497
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$970,000
RESTAURANT
Est. value
$1.0M
OFFICE BUILDING Current
RESTAURANT
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
1953
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
2
Bathrooms
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
Ccd Properties LLC
Entity
Mailing address
2055 LEE RD, CLEVELAND HEIGHTS, OH 44118-2560
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2017
—
Ccd Properties LLC
—
Deed
related
$120,000 · First Nat'l Bk/pa
Mar 1, 2007
—
Ccd Properties LLC
Dickson,charles H & Carolyn C
Quit Claim Deed
related
—
—
—
Ccd Properties LLC
—
Deed Of Trust
related
$181,646 · Firstmerit Bank NA
—
—
Ccd Properties LLC
—
Deed Of Trust
related
$120,000 · First Nat'l Bk/pa
—
—
Ccd Properties LLC
—
Deed Of Trust
related
$158,888 · First Nat'l Bk/pa
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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