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Property profile & analytics
OFF-MARKET
Medical Office Space
2429 Martin Luther King Jr Dr Cleveland, OH 44120-1024
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-2067174
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2016
Construction
TYPE NOT SPECIFIED
Total area
31,008 SF
Lot
2.42 ac (105,206 SF)
Zoning code
MF3+
APN
129-02-001
UPID
US66-2067174
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
-
Fresenius medical Care Medical Clinic
-
Fresenius Medical Care Cleveland Clinic Eastside Medical Clinic
-
Fresenius Kidney Care Cleveland Clinic Eastside Medical Clinic
-
Ohio Renal Care Group LLC dba Ohio Renal Care Group Home Dialysis Medical Clinic
-
Cleveland Clinic Eastside Dialysis Center Medical Clinic
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
Massmutial Asset Finance LLC · 4 yrs held
Massmutial Asset Finance LLC
since 2022
Last sale
$14.0M
4 recorded transactions
Zoning & alternative use
MF3+ · 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
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
$291,875
Tax year 2023
Assessed value
$2,922,500
Assessed 2023
Previous assessed
$3,759,000
-22.3% YoY
Effective rate
9.99%
On assessed value
Assessed land
$154,630
Assessed improvement
$2,767,870
Land market value
$441,800
Improvement market value
$7,908,200
Total market value
$8,350,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2016
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
31,008 SF
Lot
2.42 ac (105,206 SF)
Zoning code
MF3+
APN
129-02-001
UPID
US66-2067174
Jurisdiction
CUYAHOGA
Zoning & alternative use
MF3+ · Cleveland, OH
Zoning MF3+ · permitted uses
MF3+ · 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
2016
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
2.42 ac
Current owner
From public records · entity-resolved
Massmutial Asset Finance LLC
Entity
Mailing address
14400 METCALF AVE, OVERLAND PARK, KS 66223-2989
Ownership since
2022
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
Jan 27, 2022
$14,000,000
Massmutial Asset Finance LLC
Kb Cleveland Dialysis Dst
Limited Warranty Deed
—
Nov 1, 2016
$10,740,000
Kb Cleveland Dialysis St LLC
Cop Cleveland East LLC
Grant Deed
$6,985,000 · Cantor Com'l R/e Lndg
Sep 9, 2015
$1,250,000
Cop Cleveland East LLC
Benjamin Rose Institute
Grant Deed
—
Dec 27, 2012
—
Benjamin Rose Real Estate LLC
Benjamin Rose Institute
Quit Claim Deed
related
$6,600,000 · Northeast Oh Dev Fund Vi LLC
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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