Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2980 Moreland Blvd Cleveland, OH 44120

    • Commercial real estate
    • 11,800 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6232160
    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

    • Commercial real estate

    Property Details for 2980 Moreland Blvd

    Year built
    1920
    Lot size
    0.02 lot acres
    Property size
    11,800 SF
    Property type
    Commercial real estate

    Description

    This well-maintained, three-story apartment building in Cleveland, Ohio presents a compelling investment opportunity. Built in 1920 and extensively renovated in 2020 and 2021, the property boasts 11,800 square feet of net rentable space across ten oversized one-bedroom units. Each unit features modern finishes, complementing the classic turn-of-the-century brick Victorian architecture. The property sits on a 0.02-acre lot and is zoned MF. Currently generating over $128,000 in annual gross income ($975 per unit), with tenants responsible for all utilities except water/sewer, this building offers a strong 8.00% cap rate and a price per unit of $110,000. The asking price is $1,100,000, translating to $93.22 per square foot. One additional parking pad is included. This property represents a solid cash-flowing investment with potential for future rent increases. The building's location in Cleveland, Cuyahoga County, Ohio (zip code 44120) provides convenient access to local amenities and transportation. This is an ideal investment-sized multifamily property with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.59056371
    Latitude
    41.47729666

    Comparable in this City

    • $2,695,000
      30,000 SF

      Hampton Tudor Square Apartments

      Cleveland Multifamily Value-Add Opportunity
      2899 Hampton Rd, Cleveland, OH 44120
      View Details
    • $375,000
      0.13 Acres

      Six-Unit Multifamily Cleveland Investment

      High-Yield Cleveland Apartment Building
      3444 149Th St, Cleveland, OH 44120
      View Details
    • $7,000,000
      115,748 SF

      Shaker Hall: 103-Unit Apartment Building

      Cleveland Multifamily Value-Add Opportunity
      12700 Shaker Blvd, Cleveland, OH 44120
      View Details
    • $1,394,000

      Charming Tudor Style Apartment Complex

      17-unit apartment complex with Tudor style and cash flow.
      13309 S Woodland Rd, Cleveland, OH 44120
      View Details
    • $315,000
      4,062 SF

      Updated Cleveland Four-Unit Building

      Well-maintained, updated four-unit building with strong rental potential.
      3523 E 140Th St, Cleveland, OH 44120
      View Details
    • Contact for pricing
      2,194 SF

      Fire Damaged Two-Family Home

      Two-family home requiring full renovation, cash only AS-IS sale.
      3326 E 132Nd St, Cleveland, OH 44120
      View Details

    Similar Nearby for Sale

    • $2,695,000
      30,000 SF

      Hampton Tudor Square Apartments

      Cleveland Multifamily Value-Add Opportunity
      2899 Hampton Rd, Cleveland, OH 44120
      View Details
    • $7,000,000
      115,748 SF

      Shaker Hall: 103-Unit Apartment Building

      Cleveland Multifamily Value-Add Opportunity
      12700 Shaker Blvd, Cleveland, OH 44120
      View Details
    • $1,394,000

      Charming Tudor Style Apartment Complex

      17-unit apartment complex with Tudor style and cash flow.
      13309 S Woodland Rd, Cleveland, OH 44120
      View Details
    • $375,000
      0.13 Acres

      Six-Unit Multifamily Cleveland Investment

      High-Yield Cleveland Apartment Building
      3444 149Th St, Cleveland, OH 44120
      View Details
    • $315,000
      4,062 SF

      Updated Cleveland Four-Unit Building

      Well-maintained, updated four-unit building with strong rental potential.
      3523 E 140Th St, Cleveland, OH 44120
      View Details
    • Contact for pricing
      2,194 SF

      Fire Damaged Two-Family Home

      Two-family home requiring full renovation, cash only AS-IS sale.
      3326 E 132Nd St, Cleveland, OH 44120
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      123,197 SF

      Shaker Heights Retail Center Opportunity

      Prime Shaker Heights retail space available.
      16601 Chagrin Blvd, Shaker Heights, OH 44120
      View Details
    • Contact for pricing
      4,356 SF

      Shaker Square Restaurant Spaces Available

      Fully equipped restaurant spaces for sublease in historic Shaker Square.
      13220 Shaker Blvd, Cleveland, OH 44120
      View Details
    • $12 SF/Yr
      40,941 SF

      Buckeye Road Retail Spaces

      Cleveland retail, 4 units available, 900-1800 sqft.
      13000 Buckeye Rd, Cleveland, OH 44120
      View Details
    • Contact for pricing
      26,143 SF

      Prime Medical Office & Warehouse Space

      Cuyahoga County, 2,376 SF Available
      16500 Chagrin Blvd, Shaker Heights, OH 44120
      View Details
    • Contact for pricing
      2,939 SF

      Shaker Square Restaurant Spaces Available

      Fully equipped restaurant spaces for sublease in historic Shaker Square.
      13101 Shaker Blvd, Cleveland, OH 44120
      View Details
    • Contact for pricing
      9,324 SF

      Retail Space on Corner Location

      9,324 SF retail space on 0.9 acres for rent.
      2966 E 116Th St, Cleveland, OH 44120
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2980 Moreland Blvd
    Cleveland, OH 44120
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.