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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2353 55th St Cleveland, OH 44104

    • Retail space
    • 9,950 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1386789
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 2353 55th St

    Year built
    1952
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.42 lot acres
    Property size
    9,950 SF
    Zone code
    GR
    Property type
    Retail space
    APN
    118-28-010
    APU
    11828010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $286,000
      Market price range: $286k - $1.10M
      AI Estimate
      $302,000
      Market price range: $303k - $962k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6512
    Latitude
    41.4946
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $19,430
    $24,920
    $44,350
    -
    $55,500
    $71,200
    $126,700

    Comparable in this City

    • Value Estimation
      $160,000
      9,576 SF

      7101 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,576 SF
      7101 Central Ave, Cleveland, OH 44104
      View Details
    • Value Estimation by Request
      933 SF

      9514 Steinway Ave

      RETAIL STORES (PERSONAL SERVICES) • 933 SF
      9514 Steinway Ave, Cleveland, OH 44104-3464
      View Details
    • Value Estimation
      $195,000
      6,374 SF

      10117 Woodhill Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,374 SF
      10117 Woodhill Rd, Cleveland, OH 44104
      View Details
    • Value Estimation
      $175,000
      5,904 SF

      11022 Woodland Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,904 SF
      11022 Woodland Ave, Cleveland, OH 44104-2628
      View Details
    • Value Estimation
      $180,000
      3,247 SF

      10919 Kinsman Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,247 SF
      10919 Kinsman Rd, Cleveland, OH 44104-5063
      View Details
    • Value Estimation
      $215,000
      1,528 SF

      2883 115th St

      RETAIL STORES (PERSONAL SERVICES) • 1,528 SF
      2883 115th St, Cleveland, OH 44104
      View Details

    Similar Nearby for Sale

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      9,239 SF

      Former Freestanding Retail Building

      9,239 SF retail building on 0.778 acres for sale.
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    • $1,374,000

      Retail Property for Sale

      Retail property available for purchase in Cleveland, Ohio.
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    • $1,850,000
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      Cleveland Warehouse Trio: 11 Acres

      Three warehouse buildings, 62,500 sq ft, ideal for industrial use.
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    • $109,900

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      Investment opportunity: renovated duplex with immediate occupancy potential.
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      Updated duplex featuring spacious units and a detached three-car garage.
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    Similar Nearby for Lease

    • Contact for pricing
      3,960 SF

      Retail Space in Cleveland, OH

      Retail space available for lease in Cleveland, Ohio.
      2286-2288 E 55Th St, Cleveland, OH 44104
      View Details
    • $750 /Mo
      15,581 SF

      Retail Spaces in Cleveland, Ohio

      Retail spaces available in a unique shipping container retail center.
      8005 Kinsman Rd, Cleveland, OH 44104
      View Details
    • $96 SF/Yr
      38,230 SF

      Arbor Park Place Retail Center

      Cleveland retail space, multiple units available
      2488-2504 40Th St, Cleveland, OH 44104
      View Details
    • Contact for pricing
      63,000 SF

      Quincy Ave Office Space Available

      Cleveland Office Building, Flexible Suites
      8111 Quincy Ave, Cleveland, OH 44104
      View Details
    • $4 SF/Yr
      30,000 SF

      Cleveland Warehouse Space for Rent

      Flexible Industrial Space, 500-30,000 sq ft
      3184 79Th St, Cleveland, OH 44104
      View Details
    • Contact for pricing
      414,700 SF

      Spacious Warehouse with High Ceilings

      Two-story warehouse featuring high ceilings and ample parking.
      6200 River Side Dr, Cleveland, OH 44104
      View Details
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    2353 55th St
    Cleveland, OH 44104
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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