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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2900 Detroit Ave Cleveland, OH 44113

    • Residential income homes
    • 9,820 SF
    • 0.23 lot acres
    For Sale
    View listing
    $2,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1464441
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Weisman, Kennedy & Berris Co., L.P.A. / Civil Law Attorney / Insurance Attorney
    • Martin Scott F MD / Doctor
    • Treister William R / Attorney
    • SPACES / Art Gallery / Museum
    • Tamayo-Reyes Anna-Lynn MD / Doctor

    Property Details for 2900 Detroit Ave

    Year built
    1900
    Lot size
    0.23 lot acres
    Property size
    9,820 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    003-13-011
    APU
    313011

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,955,000
      6.5%
      $1,805,000
      7%
      $1,675,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,457,000
      Market price range: $573k - $1.56M
      AI Estimate
      $1,183,000
      Market price range: $744k - $1.29M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,215,000
      Current use
      RESTAURANT
      $1,655,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $1,590,000
      Change: +31% Conversion: Moderate
      MEDICAL BUILDING
      $1,065,000
      Change: -12% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $995,000
      Change: -18% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7115
    Latitude
    41.49
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $35,522
    $13,760
    $328,200
    $341,960
    -
    $39,300
    $937,700
    $977,000

    Comparable in this City

    • Value Estimation by Request
      2,566 SF

      4221 Whitman Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,566 SF
      4221 Whitman Ave, Cleveland, OH 44113-3272
      View Details
    • Value Estimation by Request
      2,400 SF

      2055 11th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,400 SF
      2055 11th St, Cleveland, OH 44113-3667
      View Details
    • Value Estimation by Request
      2,562 SF

      2058 11th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,562 SF
      2058 11th St, Cleveland, OH 44113-3654
      View Details
    • Value Estimation by Request
      1,094 SF

      2104 10th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,094 SF
      2104 10th St, Cleveland, OH 44113-3648
      View Details
    • Value Estimation by Request
      1,260 SF

      3030 Monroe Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,260 SF
      3030 Monroe Ave, Cleveland, OH 44113-4107
      View Details
    • Value Estimation by Request
      3,060 SF

      2411-2413 Scranton Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,060 SF
      2411-2413 Scranton Rd, Cleveland, OH 44113
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,266 SF

      Historic Flats Apartment Building

      Cleveland gem: renovated, prime location.
      1700 Columbus Rd, Cleveland, OH 44113
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      Tremont Mixed-Use Investment Opportunity

      Mixed-use building in Tremont with apartment and salon.
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      Tremont Mixed-Use Property for Sale

      Mixed-use property in Tremont with retail and apartment units.
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    • $1,235,000
      22,500 SF

      Viaduct Landings: Prime Redevelopment Site

      Cleveland Flats West Bank: Mixed-Use Potential
      2206 Superior Via, Cleveland, OH 44113
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    • $300,000
      0.06 Acres

      Updated Duplex in Ohio City

      4 bed, 2 bath duplex near West 25th St & Lorain Ave.
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      Tremont Duplex with Income Potential

      Duplex in Tremont neighborhood, close to amenities and downtown.
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    Similar Nearby for Lease

    • Contact for pricing
      53,200 SF

      Freestanding Mixed-Use Building For Rent

      Six-story building with retail and luxury rental apartments.
      1239 W 6Th St, Cleveland, OH 44113
      View Details
    • $1,500 /Mo
      793 SF

      Updated Two-Bedroom Unit in Ohio City

      Updated 2-bedroom unit in Ohio City near restaurants and boutiques.
      4205 Woodbine Ave, Cleveland, OH 44113
      View Details
    • $12 SF/Yr
      3,500 SF

      Historic Warehouse Office Space

      West 9th Street Office Suites Available
      1382 9Th St, Cleveland, OH 44113
      View Details
    • $18 SF/Yr
      7,532 SF

      Trendy River Front Office Space

      5,495 SF office space with river front views.
      1400 W 10Th St, Cleveland, OH 44113
      View Details
    • Contact for pricing
      876 SF

      Prime Retail Space on West 25th

      Retail space available on West 25th Street.
      2012 W 25Th St, Cleveland, OH 44113
      View Details
    • Contact for pricing
      1,230 SF

      Prime Corner Retail Space Available

      Retail spaces available in a newly renovated building.
      75 Public Sq, Cleveland, OH 44113
      View Details
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    2900 Detroit Ave
    Cleveland, OH 44113
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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