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Property profile & analytics
OFF-MARKET
Estimated value
$54,480,000
Retail properties & Spaces
2203 Warrensville Ctr Rd University Heights, OH 44118-3126
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US66-6021546
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2002
Total area
165,002 SF
Lot
10.09 ac (439,303 SF)
Zoning code
U-9
APN
721-01-001
UPID
US66-6021546
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
$54.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$54.48M
Owner & transaction history
Cuyahoga County Land Reutilization · 1 yrs held
Cuyahoga County Land Reutilization
since 2024
Last sale
$54.5M
7 recorded transactions
Zoning & alternative use
U-9 · University Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
District is to permit and encourage a mixture of uses including higher density residential, offices, limited retail, and civic uses in a manner which ensures the area is functionally competitive in today's housing and retail markets
Zone name
Cedar Center District
General category
CIVIC_INSTITUTIONAL
Zone area
41.09 ac
Source
Realmo
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 University Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs University 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
$54,480,000
ML approach
$54,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$54.48M
Range $49.03M – $59.93M · ±10% · vs last sale $54.48M (Sep 23 2024)
Last sale anchor
$54.48M
Sep 23 2024
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
$330 / 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
$5,611,817
Tax year 2023
Assessed value
$252,000
Assessed 2023
Previous assessed
$252,000
+0.0% YoY
Effective rate
2,226.91%
On assessed value
Assessed land
$138,390
Assessed improvement
$113,610
Land market value
$395,400
Improvement market value
$324,600
Total market value
$720,000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
3
Total area
165,002 SF
Lot
10.09 ac (439,303 SF)
Zoning code
U-9
APN
721-01-001
UPID
US66-6021546
Jurisdiction
CUYAHOGA
Zoning & alternative use
U-9 · University Heights, OHZoning U-9 · permitted uses
U-9 · University Heights, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
District is to permit and encourage a mixture of uses including higher density residential, offices, limited retail, and civic uses in a manner which ensures the area is functionally competitive in today's housing and retail markets
Zone name
Cedar Center District
General category
CIVIC_INSTITUTIONAL
Zone area
41.09 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2002
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
3
Lot
10.09 ac
Current owner
From public records · entity-resolved
Cuyahoga County Land Reutilization
Entity
Mailing address
6009 S LANDERHAVEN DR STE B, MAYFIELD HEIGHTS, OH 44124-4192
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2024
—
Cuyahoga County Land Reutilization
University Square Acquisitions LLC
Quit Claim Deed
related
$6,000,000 · S & T Bank
Dec 17, 2015
—
University Sq R & E Holdings LLC
University Heights Holding 4 L
Quit Claim Deed
related
—
Oct 30, 2013
$175,000
University Heights Holdings 4
University Heights University
Warranty Deed
related
—
May 16, 2005
$54,481,395
Inland Wstn Univ Heights Unive
Starwood Wasserman Univ Height
Grant Deed
—
Dec 21, 2001
—
Jewish Community Housing INC
Starwood Wasserman University
Grant Deed
related
—
Apr 13, 2001
—
Starwood Wasserman University
University Heights City (oh)
Quit Claim Deed
related
$1,500,000 · Ahold Real Estate Co
—
—
Inland Western Univ Heights Un
—
Deed Of Trust
related
$29,964,767 · Nomura Credit & Capital INC
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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