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Property profile & analytics
OFF-MARKET
Warehouses
2271 Lee Rd Cleveland Heights, OH 44118-3447
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US66-1126195
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1925
Construction
TYPE NOT SPECIFIED
Total area
4,400 SF
Lot
0.11 ac (4,920 SF)
Zoning code
C2-X
APN
687-08-007
UPID
US66-1126195
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
2271 Lee Road LLC · 8 yrs held
2271 Lee Road LLC
since 2017
7 recorded transactions
Zoning & alternative use
C2-X · Cleveland Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
, side yard transition zones shall be designed in accordance with Section 1131.16 Side Yard Transition Zones Standards. (c) Frontage Zone Requirements: Frontage zone requirements shall be as set forth in Section 1131.15 C2-X Frontage Standards. (d) District Boundaries: All properties within a C-2X District shall be within convenient walking distance of a sys…
Zone name
Commercial High Density
General category
COMMERCIAL
Zone area
70.24 ac
Source
Zoning Code adopted 20240116
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$10,387
Tax year 2023
Assessed value
$72,910
Assessed 2023
Previous assessed
$72,910
+0.0% YoY
Effective rate
14.25%
On assessed value
Assessed land
$8,610
Assessed improvement
$64,300
Land market value
$24,600
Improvement market value
$183,700
Total market value
$208,300
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1925
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
CENTRAL
Stories
1
Bathrooms
0
Total area
4,400 SF
Lot
0.11 ac (4,920 SF)
Zoning code
C2-X
APN
687-08-007
UPID
US66-1126195
Jurisdiction
CUYAHOGA
Zoning & alternative use
C2-X · Cleveland Heights, OHZoning C2-X · permitted uses
C2-X · Cleveland Heights, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
, side yard transition zones shall be designed in accordance with Section 1131.16 Side Yard Transition Zones Standards. (c) Frontage Zone Requirements: Frontage zone requirements shall be as set forth in Section 1131.15 C2-X Frontage Standards. (d) District Boundaries: All properties within a C-2X District shall be within convenient walking distance of a system of public par king facilities, and the District shall contain one or more busine
Zone name
Commercial High Density
General category
COMMERCIAL
Zone area
70.24 ac
Source
Zoning Code adopted 20240116
Building & site characteristics
From public records
Year built
1925
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
0
Lot
0.11 ac
Current owner
From public records · entity-resolved
2271 Lee Road LLC
Entity
Mailing address
3075 WASHINGTON BLVD, CLEVELAND HEIGHTS, OH 44118-2452
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2017
—
2271 Lee Road LLC
Mitchell William C Trust
Grant Deed
related
—
Dec 30, 2016
—
Mitchell,william C Trust
Mitchell Christ Family Trust
Quit Claim Deed
related
—
Jun 20, 2011
$240,000
Mitchell Christ Family Trust
Borwick,joel
Warranty Deed
—
Jun 3, 2011
—
Joel Borwick
Borwick,beatrice
Quit Claim Deed
related
—
Jan 15, 2010
—
Joel Borwick
Borwick,enid
Quit Claim Deed
related
—
—
—
Mitchell,c Family Trust
—
Deed Of Trust
related
$103,000 · Us Bk
—
—
2271 Lee Road LLC
—
Deed Of Trust
related
$40,958 · Us Bk
—
—
2271 Lee Road LLC
—
Deed Of Trust
related
$32,609 · Us Bk
—
—
Mitchell,william C Trust
—
Deed Of Trust
related
$37,752 · Us Bk
—
—
Mitchell,william C Trust
—
Deed Of Trust
related
$45,201 · 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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