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Property profile & analytics
FOR LEASE
Parking lots & garages
21 Prospect Ave E Cleveland, OH 44115
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US66-1739452
For Lease
1 / 7
$4,370,000
21 Prospect Ave E, Cleveland, OH 44115
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1964
Construction
CONCRETE
Total area
295,482 SF
Lot
0.32 ac (14,113 SF)
Zoning code
GR
APN
101-26-051
UPID
US66-1739452
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
-
JACK SWAG SHOP Clothing 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
$4.37M
Owner & transaction history
May Garage Property LLC · 8 yrs held
May Garage Property LLC
since 2017
7 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
$15 / 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
$482,847
Tax year 2023
Assessed value
$4,636,630
Assessed 2023
Previous assessed
$4,372,130
+6.0% YoY
Effective rate
10.41%
On assessed value
Assessed land
$666,820
Assessed improvement
$3,969,810
Land market value
$1,905,200
Improvement market value
$11,342,300
Total market value
$13,247,500
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
For Lease
Year built
1964
Construction
CONCRETE
Heating
HOT WATER
Cooling
CENTRAL
Stories
10
Total area
295,482 SF
Lot
0.32 ac (14,113 SF)
Zoning code
GR
APN
101-26-051
UPID
US66-1739452
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
1964
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
10
Lot
0.32 ac
Current owner
From public records · entity-resolved
May Garage Property LLC
Entity
Mailing address
100 PUBLIC SQ, CLEVELAND, OH 44113-2208
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2022
—
May Garage Property LLC
—
Deed
related
$550,000 · Credit Suisse Ag Cayman Islands Branch
Jul 16, 2020
—
May Garage Property LLC
—
Deed
related
$95,000,000 · Vivi Lendco LLC
Jan 24, 2020
—
May Garage Property LLC
—
Deed
related
$100,000,000 · Vici Lendco LLC
Oct 12, 2017
$16,250,000
May Garage Property LLC
Rainbow Garage LLC
Grant Deed
$10,150,000 · Us Bank NA 2014-ubs2 (ce)
Jan 24, 2014
$3,000,000
Rainbow Garage LLC
Euclid Of Cleveland LLC
Quit Claim Deed
related
$10,150,000 · German American Cap
Dec 13, 2013
—
Euclid Of Cleveland LLC
Imperial Euclid C LLC
Quit Claim Deed
related
—
Jun 25, 2012
—
Euclid Of Cleveland LLC
Imperial Euclid C LLC
Quit Claim Deed
related
—
Jan 31, 2007
$11,000,000
Euclid Of Cleveland LLC
180 Euclid Avenue LLC
Grant Deed
related
$12,960,000 · Nrfc Wa Holdings II LLC
Dec 20, 2002
—
Lower Euclid Avenue LLC
Cleveland City (oh)
Quit Claim Deed
related
—
Dec 16, 2002
—
Lower Euclid Avenue LLC
180 Euclid Avenue LLC
Quit Claim Deed
related
—
Apr 25, 2000
$88,600
180 Euclid Avenue LLC
May Department Stores
Trustees Deed
—
—
—
May Garage Property LLC
—
Deed Of Trust
related
$100,000,000 · Vici Lendco LLC
—
—
May Garage Property LLC
—
Loan Modification
related
$95,000,000 · Vivi Lendco LLC
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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