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Property profile & analytics
OFF-MARKET
Estimated value
$3,355,000
Office buildings
2490 Lee Blvd Cleveland Heights, OH 44118-1268
Entity Owned
25-yr Hold
~
Est. High Equity
Property ID
US66-2288569
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Construction
CONCRETE
Total area
78,568 SF
Lot
1.8 ac (78,390 SF)
Zoning code
C1
APN
681-39-004
UPID
US66-2288569
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.50M
Blend (final)
Blend
$3.36M
Owner & transaction history
Maylee Building LLC · 25 yrs held
Maylee Building LLC
since 2001
7 recorded transactions
Zoning & alternative use
C1 · Cleveland Heights, 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 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
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
Blend value · Realmo final
$3.36M
Range $3.02M – $3.69M · ±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
$43 / 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
$56,152
Tax year 2023
Assessed value
$387,310
Assessed 2023
Previous assessed
$387,310
+0.0% YoY
Effective rate
14.50%
On assessed value
Assessed land
$137,200
Assessed improvement
$250,110
Land market value
$392,000
Improvement market value
$714,600
Total market value
$1,106,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1960
Construction
CONCRETE
Heating
HOT WATER
Cooling
CENTRAL
Buildings
3
Stories
3
Bathrooms
5
Total area
78,568 SF
Lot
1.8 ac (78,390 SF)
Zoning code
C1
APN
681-39-004
UPID
US66-2288569
Jurisdiction
CUYAHOGA
Zoning & alternative use
C1 · Cleveland Heights, OH
Zoning C1 · permitted uses
C1 · Cleveland Heights, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland Heights. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1960
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
3
Bathrooms
5
Lot
1.8 ac
Current owner
From public records · entity-resolved
Maylee Building LLC
Entity
Mailing address
2490 LEE BLVD STE #319, CLEVELAND HEIGHTS, OH 44118-1268
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2017
—
Maylee Building LLC
—
Deed
related
$1,250,000 · Miscellaneous Ins Co
Apr 15, 2011
—
Maylee Building LLC
—
Deed Of Trust
related
$1,400,000 · Park View Fsb
Jan 29, 2010
—
Maylee Building LLC
—
Grant Deed
related
$1,400,000 · Park View Fsb
Feb 15, 2001
$600,000
Maylee Building LLC
David N Myers Estate
Grant Deed
$500,000 · Seller
—
—
Maylee Building LLC
—
Deed Of Trust
related
$225,000 · Park View Fsb
—
—
Maylee Building LLC
—
Deed Of Trust
related
$350,000 · Park View Fsb
—
—
Maylee Building LLC
—
Deed Of Trust
related
$105,000 · Larry E Cohen
—
—
Maylee Building LLC
—
Deed Of Trust
related
$300,000 · Pri E Chaim
—
—
Maylee Building LLC
—
Deed Of Trust
related
$243,000 · Park View Fsb
—
—
Maylee Building LLC
—
Deed Of Trust
related
$746,250 · Park View Fsb
—
—
Maylee Building LLC
—
Deed Of Trust
related
$1,250,000 · Miscellaneous Ins Co
—
—
Maylee Building LLC
—
Deed Of Trust
related
$190,000 · Park View Fsb
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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