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Property profile & analytics
OFF-MARKET
Estimated value
$4,030,000
Medical Office Space
2475 22nd St Cleveland, OH 44115-3221
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US66-2436760
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1964
Construction
TYPE NOT SPECIFIED
Total area
44,892 SF
Lot
1.66 ac (72,448 SF)
Zoning code
GR
APN
122-04-001
UPID
US66-2436760
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
-
H Andrew Johnson Inc Dental Office
-
Americare Kidney Institute Medical Clinic
-
Subramanian Sakthiraj MD Physician
-
Medical Arts Physician Center Medical Clinic
-
Baskar Govin MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.86M
Blend (final)
Blend
$4.03M
Owner & transaction history
Sisters Of Charity/st Augustine H · 16 yrs held
Sisters Of Charity/st Augustine H
since 2010
1 recorded transaction
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,880,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,550,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,995,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$4.03M
Range $3.63M – $4.43M · ±10%
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
$90 / 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
$124,901
Tax year 2023
Assessed value
$1,652,400
Assessed 2023
Previous assessed
$1,652,400
+0.0% YoY
Effective rate
7.56%
On assessed value
Assessed land
$266,250
Assessed improvement
$1,386,150
Land market value
$760,700
Improvement market value
$3,960,400
Total market value
$4,721,100
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
1964
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
6
Bathrooms
3
Total area
44,892 SF
Lot
1.66 ac (72,448 SF)
Zoning code
GR
APN
122-04-001
UPID
US66-2436760
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.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$4.0M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
6
Bathrooms
3
Lot
1.66 ac
Current owner
From public records · entity-resolved
Sisters Of Charity/st Augustine H
Individual
Mailing address
2475 E 22ND ST, CLEVELAND, OH 44115-3221
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2010
$1,685,000
Sisters Of Charity/st Augustine H
Central Medical Arts Realty LP
Grant Deed
$1,595,000 · Central Medical Arts Realty LP
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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