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Property profile & analytics
FOR LEASE
Hotels
24 Public Sq Cleveland, OH 44113
Entity Owned
4-yr Hold
Free & Clear
Property ID
US66-1532600
For Lease
1 / 2
$18,280,000
24 Public Sq, Cleveland, OH 44113
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1917
Construction
CONCRETE
Total area
431,352 SF
Lot
0.52 ac (22,646 SF)
Zoning code
GR
APN
101-23-007
UPID
US66-1532600
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
-
Hotel Cleveland, Autograph Collection Hotel & Motel
-
Mowrey’s Restaurant
-
Boost Mobile Mobile Phone Store Electronics & Wireless Store
-
Maker Bar & Pub
-
Conner & Sons Roofers Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$21.49M
Blend (final)
Blend
$18.28M
Owner & transaction history
Skyline Cleveland Renaissance LLC · 4 yrs held
Skyline Cleveland Renaissance LLC
since 2021
Last sale
$18.2M
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
Method
Estimation
Statistic approach
$15,340,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$18.28M
Range $16.45M – $20.11M · ±10% · vs last sale $18.15M (Nov 12 2021)
Last sale anchor
$18.15M
Nov 12 2021
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
$42 / 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
$400,301
Tax year 2023
Assessed value
$3,819,210
Assessed 2023
Previous assessed
$3,819,210
+0.0% YoY
Effective rate
10.48%
On assessed value
Assessed land
$505,300
Assessed improvement
$3,313,910
Land market value
$1,443,700
Improvement market value
$9,468,300
Total market value
$10,912,000
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
Hotels
Use group
HOTEL
Status
For Lease
Year built
1917
Construction
CONCRETE
Heating
HOT WATER
Cooling
CENTRAL
Stories
12
Total area
431,352 SF
Lot
0.52 ac (22,646 SF)
Zoning code
GR
APN
101-23-007
UPID
US66-1532600
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
1917
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
12
Lot
0.52 ac
Current owner
From public records · entity-resolved
Skyline Cleveland Renaissance LLC
Entity
Free & Clear · 4 yrs held
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2023
—
Skyline Cleveland Renaissance LLC
—
Deed
related
$20,477,229 · County Of Cuyahoga Ohio
Nov 15, 2023
—
Skyline Cleveland Renaissance LLC
—
Deed
related
$2,000,000 · Ohio Water Development Authority
Oct 12, 2022
—
Skyline Cleveland Renaissance LLC
—
Deed
related
$12,350,000 · Fifth Third Bank NA
Nov 12, 2021
—
Skyline Cleveland Renaissance LLC
City Of Cleveland
Quit Claim Deed
related
—
Apr 1, 2020
—
Skyline Cleveland Renaissance
—
Deed
related
$29,150,000 · Fifth Third Bk
Oct 28, 2015
$18,150,000
Skyline Cleveland Renaissance
Public Sq Hotel Cmnty Urban Re
Grant Deed
—
—
—
Skyline Cleveland Renaissance
—
Loan Modification
related
$29,150,000 · Fifth Third Bk
—
—
Skyline Cleveland Renaissance
—
Deed Of Trust
related
$29,150,000 · Fifth Third 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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