Realmo Analytics

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Property profile

2635 Payne Ave Cleveland, OH 44114

FOR LEASE
Office buildings
Property ID
US66-2074822
2,104 SF 0.56 ac lot Built 1960
Last sale Dec 2014 · $252,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 11-yr Hold Held for 11 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional 1,816 square foot industrial warehouse, situated on a 0.544-acre lot in Cuyahoga County, presents a compelling investment opportunity. Built in 1960, this single-story Class C building offers a single-tenant occupancy and boasts excellent visibility on highly trafficked Payne Avenue. The property's zoning is SI-C4. Its strategic location provides unparalleled access to I-90 and Downtown Cleveland, placing your business within easy reach of major transportation arteries. …

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$10k
Tax billed · 2023
Assessed value$98k
Assessed land$37k
Assessed improvement$60k
Effective rate9.99%

Value estimate

· Oct 2026
$380k
$342k – $418k
AI approach$380k
NOI build-up
Gross scheduled income$13k
Vacancy & credit loss−$527
Operating expenses−$4k
NOI · 108,050.00% cap applied$9k

Realmo valuation models over county records and 21 qualifying comparable sales.

Recently sold

What actually traded nearby?
$116/SF
ZIP average, outlier-cleaned · 22 recorded sales of this use type
Observed band · Q1–Q3$63 – $200
Qualifying comparables21

Cap rate analysis

How does the asset earn?
108,050.00%
$9k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
SI
JurisdictionCUYAHOGA

Location intelligence

Which uses thrive at this corner?
Best fit: Garden Center
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Garden Center9.5
Pet Store9.2
Watch Repair Shop9.0

Location

2635 Payne Ave Cleveland, OH 44114
County assessor Recorded deeds · 2 transfers 21 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1176 38th, Cleveland, OH 44114-3825 $139,429 Mar 2024 3,000 SF
1428 Hamilton, Cleveland, OH 44114-1106 $357,500 Dec 2023 2,100 SF
1550 30th, Cleveland, OH 44114-4314 $137,500 Jan 2023 1,808 SF
3525 Lakeside E, Cleveland, OH 44114-3743 $150,000 May 2022 1,856 SF
2805 Superior E, Cleveland, OH 44114-4201 $124,000 Dec 2021 2,385 SF
2701 Lakeside E, Cleveland, OH 44114-3715 $646,800 Oct 2021 2,046 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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