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Property profile & analytics
OFF-MARKET
Estimated value
$3,330,000
Refrigerated & Cold Storage
2700 55th St Cleveland, OH 44104-2865
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US66-1799848
Property profile
Verified
Property type
Refrigerated & Cold Storage
Use group
COLD STORAGE
Year built
1970
Total area
39,334 SF
Lot
13.88 ac (604,724 SF)
Zoning code
GI
APN
123-09-120
UPID
US66-1799848
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
-
Hillcrest Food service Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.02M
Comparable Approach
Comparable
$3.37M
Blend (final)
Blend
$3.33M
Owner & transaction history
East 55th Street I LLC · 10 yrs held
East 55th Street I LLC
since 2016
7 recorded transactions
Zoning & alternative use
GI · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.3M
+112.2%
Neighborhood: shopping center
$4.0M
+97.8%
Auto repair, garage
$3.5M
+73.7%
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%
$3,270,000
6.5%
$3,020,000
7%
$2,805,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,015,000
Current use
MEDICAL BUILDING
$4,275,000
Change: +112% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,985,000
Change: +98% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,500,000
Change: +74% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,260,000
Change: +62% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,910,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$3.33M
Range $3.00M – $3.66M · ±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
$85 / 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
$149,719
Tax year 2023
Assessed value
$1,499,120
Assessed 2023
Previous assessed
$1,499,120
+0.0% YoY
Effective rate
9.99%
On assessed value
Assessed land
$242,970
Assessed improvement
$1,256,150
Land market value
$694,200
Improvement market value
$3,589,000
Total market value
$4,283,200
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
Refrigerated & Cold Storage
Use group
COLD STORAGE
Status
Off-Market
Year built
1970
Heating
FORCED AIR
Cooling
NONE
Buildings
4
Stories
1
Bathrooms
4
Total area
39,334 SF
Lot
13.88 ac (604,724 SF)
Zoning code
GI
APN
123-09-120
UPID
US66-1799848
Jurisdiction
CUYAHOGA
Zoning & alternative use
GI · Cleveland, OH
Zoning GI · permitted uses
GI · 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
WAREHOUSE, STORAGE Current
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$4.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1970
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Bathrooms
4
Lot
13.88 ac
Current owner
From public records · entity-resolved
East 55th Street I LLC
Entity
Free & Clear · 10 yrs held
Mailing address
2735 E 40TH ST, CLEVELAND, OH 44115-3510
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2018
—
East 55th Street I LLC
—
Loan Modification
related
$1,500,000 · Miscellaneous Govt Agcy
Sep 4, 2018
—
East 55th Street I LLC
—
Grant Deed
related
$5,800,000 · First Nat'l Bk/pa
Nov 15, 2016
—
East 55th Street I LLC
—
Deed
related
$1,500,000 · Private Individual
Jul 6, 2016
$500
East 55th Street I LLC
Eliot Gelb Realty LLC
Grant Deed
related
—
Oct 28, 2015
—
Eliot Gelb Realty LLC
Gelb Realty Ltd
Correction Deed
related
—
Feb 10, 2015
—
Eliot Gelb Realty LLC
Gelb Realty Ltd
Quit Claim Deed
related
—
Apr 4, 2013
—
Gelb Realty Ltd
—
Grant Deed
related
$1,250,000 · Firstmerit Bk
—
—
Gelb Realty Ltd
—
Deed Of Trust
related
$365,000 · Firstmerit Bk
—
—
East 55th Street I LLC
—
Deed Of Trust
related
$1,500,000 · Private Individual
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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