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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Residential income homes
2868 Noble Rd, Cleveland Heights, OH 44121-2241
Entity Owned
3-yr Hold
Property ID
US66-6240986
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1962
Construction
TYPE NOT SPECIFIED
Total area
2,376 SF
Lot
0.69 ac (29,900 SF)
Zoning code
MF2
APN
683-05-013
UPID
US66-6240986
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
$610k
CAP Approach
CAP
$435k
Comparable Approach
Comparable
$468k
Blend (final)
Blend
$640k
Owner & transaction history
Cleveland Heights Noble LLC · 3 yrs held
Cleveland Heights Noble LLC
since 2022
Last sale
$650,000
7 recorded transactions
Zoning & alternative use
MF2 · Cleveland Heights, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$385,000
+118.6%
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
$650,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
$475,000
6.5%
$435,000
7%
$405,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$385,000
Change: +119% · Conversion: Moderate
Blend value · Realmo final
$640k
Range $576k – $704k · ±10% · vs last sale $650k (Dec 1 2022)
Last sale anchor
$650k
Dec 1 2022
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
$269 / 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
$32,413
Tax year 2023
Assessed value
$385,010
Assessed 2023
Previous assessed
$385,010
+0.0% YoY
Effective rate
8.42%
On assessed value
Assessed land
$80,610
Assessed improvement
$304,400
Land market value
$230,300
Improvement market value
$869,700
Total market value
$1,100,000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1962
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
YES
Buildings
5
Stories
2
Units
2
Bathrooms
16
Total area
2,376 SF
Lot
0.69 ac (29,900 SF)
Zoning code
MF2
APN
683-05-013
UPID
US66-6240986
Jurisdiction
CUYAHOGA
Zoning & alternative use
MF2 · Cleveland Heights, OH
Zoning MF2 · permitted uses
MF2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$385,000
OFFICE BUILDING
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
1962
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
5
Units
2
Bathrooms
16
Lot
0.69 ac
Current owner
From public records · entity-resolved
Cleveland Heights Noble LLC
Entity
Mailing address
2868 NOBLE RD, CLEVELAND HEIGHTS, OH 44121-2241
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2022
$650,000
Cleveland Heights Noble LLC
2868 Noble LLC
Warranty Deed
—
Apr 17, 2019
$1,100,000
2868 Noble LLC
Kpl Dev INC
Grant Deed
—
Apr 17, 2019
$577,500
Kpl Dev INC
Sternum LLC
Grant Deed
—
Jul 26, 2018
$640,000
Sternum LLC
Spirollari,petri & Klejda
Warranty Deed
$480,000 · Eaton Fam Cu
Dec 30, 2010
$300,000
Petri Spirollari
Midwest Realty Advisors LLC
Grant Deed
—
Oct 7, 2008
—
Ohio Oboe Co LLC
Blain,arthur A IV & San S
Quit Claim Deed
related
—
Sep 19, 2006
—
Savani Properties Ltd
Savani,john
Quit Claim Deed
related
—
Sep 19, 2006
$820,000
Arthur A Blain IV
Savani Properties Ltd
Warranty Deed
$656,000 · Lasalle National Bank
Dec 29, 2000
$730,000
John Savani
Shahinian,john & Kathy
Grant Deed
—
Feb 20, 1998
$685,000
John Shahinian
Greenberg,joe & Sarah
Grant Deed
$485,000 · Firstmerit Bank NA
—
—
Petri Spirollari
—
Deed Of Trust
related
$250,000 · First Fed'l S&l/lakewood
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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