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Property profile & analytics
OFF-MARKET
Estimated value
$3,205,000
Medical Office Space
2816 116th St Cleveland, OH 44120-2111
Entity Owned
10-yr Hold
Free & Clear
Property ID
US66-4024172
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Construction
TYPE NOT SPECIFIED
Total area
25,120 SF
Lot
1.1 ac (47,960 SF)
Zoning code
SC
APN
128-08-011
UPID
US66-4024172
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
-
MetroHealth Department of Radiology Medical Clinic
-
Ashish Rastogi Physician
-
Gottesman Eleanor MD Physician
-
MetroHealth Buckeye Health Center - Lab Services Medical Laboratory
-
MetroHealth Buckeye Health Center - Pharmacy Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.84M
Comparable Approach
Comparable
$3.37M
Blend (final)
Blend
$3.21M
Owner & transaction history
Arhc Mhclvoho1 LLC · 10 yrs held
Arhc Mhclvoho1 LLC
since 2015
4 recorded transactions
Zoning & alternative use
SC · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+55.2%
Office building
$4.1M
+48.8%
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%
$4,160,000
6.5%
$3,840,000
7%
$3,565,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,730,000
Current use
RESTAURANT
$4,235,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$4,065,000
Change: +49% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,545,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,235,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$3.21M
Range $2.88M – $3.53M · ±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
$128 / 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
$114,363
Tax year 2023
Assessed value
$1,145,100
Assessed 2023
Previous assessed
$1,145,100
+0.0% YoY
Effective rate
9.99%
On assessed value
Assessed land
$49,740
Assessed improvement
$1,095,360
Land market value
$142,100
Improvement market value
$3,129,600
Total market value
$3,271,700
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
2004
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
25,120 SF
Lot
1.1 ac (47,960 SF)
Zoning code
SC
APN
128-08-011
UPID
US66-4024172
Jurisdiction
CUYAHOGA
Zoning & alternative use
SC · Cleveland, OH
Zoning SC · permitted uses
SC · 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
$2.7M
RESTAURANT
Est. value
$4.2M
OFFICE BUILDING
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING Current
RESTAURANT
OFFICE BUILDING
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
2004
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
1.1 ac
Current owner
From public records · entity-resolved
Arhc Mhclvoho1 LLC
Entity
Free & Clear · 10 yrs held
Mailing address
PO BOX 460169, HOUSTON, TX 77056-8169
Ownership since
2015
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
Jun 8, 2023
—
Arhc Mhclvoh01 LLC
—
Deed
related
$240,000 · Barclays Capital Real Estate INC
Aug 5, 2015
$5,550,000
Arhc Mhclvoho1 LLC
200 E 18th LLC
Grant Deed
—
May 31, 2006
$5,800,000
200 E 18th LLC
Heg Metro LLC
Grant Deed
—
Aug 25, 2005
$5,250,000
Heg Metro LLC
Buckeye E & A LLC
Grant Deed
$4,160,000 · Cibc INC
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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