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

    2nd Ave East Cleveland, OH 44112

    • Grocery and convenience stores
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2022
    $90,000
    Value Estimations
    $70,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3964360
    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

    • Grocery and convenience stores

    Property Details for 2nd Ave

    Lot size
    0.10 lot acres
    Zone code
    U2-H1
    Property type
    Grocery and convenience stores
    APN
    671-06-084
    APU
    67106084

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $70,000

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

    Location Insight

    • Map
    • Local Demand
    City
    East Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5883
    Latitude
    41.5317
    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
    $369
    $2,140
    $0.00
    $2,140
    -
    $6,100
    $0.00
    $6,100

    Comparable in this City

    • Value Estimation
      $330,000
      2,667 SF

      13441 Euclid Ave

      CONVENIENCE STORE • 2,667 SF
      13441 Euclid Ave, East Cleveland, OH 44112-4506
      View Details
    • Value Estimation
      $175,000
      2,075 SF

      12800 Euclid Ave

      CONVENIENCE STORE • 2,075 SF
      12800 Euclid Ave, East Cleveland, OH 44112-4735
      View Details
    • Value Estimation
      $355,000
      19,470 SF

      1325 Hayden Ave

      GROCERY, SUPERMARKET • 19,470 SF
      1325 Hayden Ave, East Cleveland, OH 44112-1803
      View Details
    • Value Estimation
      $230,000
      1,680 SF

      1980 Noble Rd

      CONVENIENCE STORE • 1,680 SF
      1980 Noble Rd, East Cleveland, OH 44112-1723
      View Details
    • Value Estimation
      $250,000
      0.07 Acres

      2351 Greyton Rd

      GROCERY, SUPERMARKET • 0.07 Acres
      2351 Greyton Rd, Cleveland Heights, OH 44112
      View Details
    • Value Estimation
      $210,000
      2,520 SF

      14913 Euclid Ave

      CONVENIENCE STORE • 2,520 SF
      14913 Euclid Ave, East Cleveland, OH 44112-3407
      View Details

    Similar Nearby for Sale

    • $1,750,000
      8,310 SF

      East Cleveland Retail Strip Center

      8,310 SF retail center in high-traffic area.
      13464 Euclid Ave, East Cleveland, OH 44112
      View Details
    • $279,900
      4,258 SF

      Cleveland Retail Building Investment

      Prime retail space, strong tenant base, high ROI potential.
      2139 Noble Rd, Cleveland, OH 44112
      View Details
    • $4,000,000

      Euclid Avenue Retail Opportunity

      Retail properties available for sale on Euclid Avenue.
      13520-13620 Euclid Ave, East Cleveland, OH 44112
      View Details
    • $297,000

      Six-Unit Apartment Building Opportunity

      Income-producing six-unit apartment building with potential for rent increases.
      1675 Carlyon Rd, Cleveland, OH 44112
      View Details
    • $65,000
      0.07 Acres

      East Cleveland Multifamily Investment Opportunity

      Multifamily property in East Cleveland with cash flow potential.
      14413 Potomac Ave, East Cleveland, OH 44112
      View Details
    • $74,000
      2,134 SF

      East Cleveland Multi-Unit Home

      Two-unit home with two bedrooms and one bathroom each.
      1269 E 143Rd St, East Cleveland, OH 44112
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Retail Space on Euclid Avenue

      Retail space available in East Cleveland, Ohio.
      14325-14343 Euclid Ave, East Cleveland, OH 44112
      View Details
    • Contact for pricing
      23,325 SF

      East Cleveland Flex Space - Unit 200

      17,000 SF Flex Space, Prime Location
      1700 Shaw Ave, East Cleveland, OH 44112
      View Details
    • Contact for pricing
      31,326 SF

      Cleveland Town Center Retail Space

      High-traffic retail plaza; spaces available.
      14343 Euclid Ave, East Cleveland, OH 44112
      View Details
    • Contact for pricing
      66,114 SF

      Forest Hills Shopping Center: Prime Retail Space

      East Cleveland retail center, multiple spaces available.
      13520 Euclid Ave, East Cleveland, OH 44112
      View Details
    • $5,650,000
      265,000 SF

      Euclid Avenue Industrial Property

      265,000 SF industrial property with ample parking and excellent access.
      18513 Euclid Ave, Cleveland, OH 44112
      View Details
    • Contact for pricing
      1,072,296 SF

      Nela Park: Premier East Cleveland Campus

      Historic Industrial/Medical Office Space
      1975 Noble Rd, East Cleveland, OH 44112
      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.
    2nd Ave
    East Cleveland, OH 44112
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.