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Property profile & analytics
OFF-MARKET
Estimated value
$7,330,000
Super regional malls
2101 Richmond Rd 2111, Beachwood, OH 44122-1391
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US66-1109592
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1975
Construction
TYPE NOT SPECIFIED
Total area
65,610 SF
Lot
5.06 ac (220,457 SF)
Zoning code
U-4A
APN
741-24-017
UPID
US66-1109592
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.33M
Owner & transaction history
La Place Shopping Center LLC · 11 yrs held
La Place Shopping Center LLC
since 2015
4 recorded transactions
Zoning & alternative use
U-4A · Beachwood, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.1M
+66.5%
Office building
$7.2M
+8.5%
Medical building
$7.1M
+7.3%
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 Beachwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Beachwood 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$6,645,000
Current use
RESTAURANT
$11,065,000
Change: +67% · Conversion: Difficult
OFFICE BUILDING
$7,210,000
Change: +9% · Conversion: Moderate
MEDICAL BUILDING
$7,130,000
Change: +7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,835,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,435,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$7.33M
Range $6.60M – $8.06M · ±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
$112 / 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
$426,361
Tax year 2023
Assessed value
$5,317,420
Assessed 2023
Previous assessed
$5,317,420
+0.0% YoY
Effective rate
8.02%
On assessed value
Assessed land
$1,851,820
Assessed improvement
$3,465,600
Land market value
$5,290,900
Improvement market value
$9,901,700
Total market value
$15,192,600
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1975
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Stories
1
Total area
65,610 SF
Lot
5.06 ac (220,457 SF)
Zoning code
U-4A
APN
741-24-017
UPID
US66-1109592
Jurisdiction
CUYAHOGA
Zoning & alternative use
U-4A · Beachwood, OH
Zoning U-4A · permitted uses
U-4A · Beachwood, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Beachwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.6M
RESTAURANT
Est. value
$11.1M
OFFICE BUILDING
Est. value
$7.2M
MEDICAL BUILDING
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$5.8M
COMMERCIAL (GENERAL)
Est. value
$5.4M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1975
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Lot
5.06 ac
Current owner
From public records · entity-resolved
La Place Shopping Center LLC
Entity
Mailing address
PO BOX 3487, CHICAGO, IL 60654-0482
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2015
—
La Place Shopping Center LLC
Boardwalk Partners LLC
Deed In Lieu Of Foreclosure
related
—
Aug 13, 2004
$25,575
Boardwalk Partners LLC
La Place Center
Grant Deed
$21,600,000 · Us Bank NA
Sep 2, 2003
—
La Place Center LP
La Place Center LP
Quit Claim Deed
related
$14,000,000 · Bank One NA
—
—
Boardwalk Partners LLC
—
Deed Of Trust
related
$22,000,000 · J P Morgan Chase 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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