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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Individual retail properties
2831 Franklin Blvd Cleveland, OH 44113-2916
Entity Owned
8-yr Hold
Free & Clear
Property ID
US66-5748544
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1934
Construction
TYPE NOT SPECIFIED
Total area
35,958 SF
Lot
0.67 ac (29,075 SF)
Zoning code
LR
APN
003-32-003
UPID
US66-5748544
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
-
Ritual Yoga Gym & Fitness Center
-
Cleveland Rocks Climbing Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$529k
Blend (final)
Blend
$600k
Owner & transaction history
Cleveland Rocks Holding LLC · 8 yrs held
Cleveland Rocks Holding LLC
since 2018
7 recorded transactions
Zoning & alternative use
LR · 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
$675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
GYM, HEALTH SPA
$760,000
Current use
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$17 / 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
$42,258
Tax year 2023
Assessed value
$423,120
Assessed 2023
Previous assessed
$112,670
+275.5% YoY
Effective rate
9.99%
On assessed value
Assessed land
$122,120
Assessed improvement
$301,000
Land market value
$348,900
Improvement market value
$860,000
Total market value
$1,208,900
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1934
Construction
TYPE NOT SPECIFIED
Heating
HOT WATER
Cooling
NONE
Stories
2
Total area
35,958 SF
Lot
0.67 ac (29,075 SF)
Zoning code
LR
APN
003-32-003
UPID
US66-5748544
Jurisdiction
CUYAHOGA
Zoning & alternative use
LR · Cleveland, OH
Zoning LR · permitted uses
LR · 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
GYM, HEALTH SPA Current
Est. value
$760,000
GYM, HEALTH SPA Current
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
1934
Construction
TYPE NOT SPECIFIED
Heating
HOT WATER
Cooling
Yes
Stories
2
Lot
0.67 ac
Current owner
From public records · entity-resolved
Cleveland Rocks Holding LLC
Entity
Free & Clear · 8 yrs held
Mailing address
2831 FRANKLIN BLVD, CLEVELAND, OH 44113-2916
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 26, 2019
—
Cleveland Rocks Holding LLC
—
Deed
related
$290,000 · Miscellaneous Govt Agcy
Apr 4, 2019
—
Cleveland Rocks Holding LLC
—
Deed
related
$200,000 · Miscellaneous Govt Agcy
Jan 24, 2019
—
Cleveland Rocks Holding LLC
—
Deed
related
$200,000 · Chemical Bk
Jan 15, 2019
—
Cleveland Rocks Holding LLC
—
Deed
related
$80,000 · Miscellaneous Govt Agcy
Jan 30, 2018
$64,233
Cleveland Rocks Holding LLC
West Side Masonic Temple Co
Warranty Deed
—
—
—
Cleveland Rocks Holding LLC
—
Deed Of Trust
related
$80,000 · Miscellaneous Govt Agcy
—
—
Cleveland Rocks Holding LLC
—
Deed Of Trust
related
$200,000 · Chemical Bk
—
—
Cleveland Rocks Holding LLC
—
Deed Of Trust
related
$200,000 · Miscellaneous Govt Agcy
—
—
Cleveland Rocks Holding LLC
—
Deed Of Trust
related
$1,675,000 · Chemical Bk
—
—
Cleveland Rocks Holding LLC
—
Loan Modification
related
$290,000 · Miscellaneous Govt Agcy
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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