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

    3116-03118 12th St Cleveland, OH

    • Residential income homes
    • 1,858 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    May 06, 2022
    $85,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2517902
    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

    • Residential income homes

    Property Details for 3116-03118 12th St

    Year built
    1900
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    1,858 SF
    Zone code
    2F
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    008-08-018
    APU
    808018

    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
    -81.6902
    Latitude
    41.4695
    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
    $4,544
    $6,020
    $39,480
    $45,500
    -
    $17,200
    $112,800
    $130,000

    Comparable in this City

    • Value Estimation by Request
      4,044 SF

      Washington, OH

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,044 SF
      471, Washington, OH
      View Details
    • Value Estimation by Request
      2,154 SF

      Washington, OH

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,154 SF
      254, Washington, OH
      View Details
    • Value Estimation
      $1,285,000
      16,416 SF

      Harper St, OH

      APARTMENT HOUSE (UNDER 5 UNITS) • 16,416 SF
      Harper St, OH
      View Details
    • Value Estimation by Request
      3,332 SF

      N

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,332 SF
      N, Tod, OH
      View Details
    • Value Estimation
      $2,370,000
      28,674 SF

      Old Riverside Dr, OH

      GARDEN APT, COURT APT (5+ UNITS) • 28,674 SF
      Old Riverside Dr, OH
      View Details
    • Value Estimation
      $1,355,000
      1,326 SF

      Monroe Mnr, OH

      APARTMENT HOUSE (5+ UNITS) • 1,326 SF
      Monroe Mnr, OH
      View Details

    Similar Nearby for Sale

    • $925,000
      12,222 SF

      Redevelopment Opportunity in Toledo, OH

      Spacious building suitable for multifamily redevelopment with scenic views.
      6048 Deer Park Ct, Maumee, OH
      View Details
    • Contact for pricing
      4,314 SF

      Turnkey Bar/Restaurant with Apartments

      Vacant bar/restaurant with two apartments near Downtown Cleveland.
      5379 St Clair Ave, Cleveland, OH
      View Details
    • Contact for pricing
      12,797 SF

      Retail and Apartment Building

      Well-maintained property with retail and apartments.
      21930 Lk Shr Blvd, Euclid, OH
      View Details
    • $2,227,000

      Fairborn Industrial Land Opportunity

      Over 104 acres of industrial land for sale.
      444 State Rd, Fairborn, OH
      View Details
    • $1,390,000

      Retail Zoned Land For Sale

      Retail-zoned land with high traffic and income demographics.
      5466 Pearl Rd, Parma, OH
      View Details
    • $838,500

      Land with Highway Visibility

      Land with visibility on Rt. 8 and I-271.
      8058 County Rte, Macedonia, OH
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Painesville Mixed-Use Development

      Mixed-use development in historic Downtown Painesville with retail and apartments.
      New Mixed-Use Development, Painesville, OH
      View Details
    • Contact for pricing

      Industrial Land Available For Lease

      Land available for lease with utilities in Cleveland, Ohio.
      Hinkley Industrial Pkwy, Cleveland, OH
      View Details
    • Contact for pricing

      Land with Park-Like Setting

      Land with easy highway access and park-like setting.
      Franks Pkwy, Uniontown, OH
      View Details
    • $2,500,000
      15,288 SF

      Renovated Industrial Space Available

      Renovated industrial space with flexible lease terms and freeway access.
      26235 Cannon Rd, Bedford, OH
      View Details
    • Contact for pricing

      Land Near Rockside and Aurora

      1.04 acres near major intersection, potential for 10,000 sqft.
      Aurora Rd, Bedford Heights, OH
      View Details
    • Contact for pricing
      2,014 SF

      Retail Opportunity with Drive-Thru

      Standalone retail with drive-thru, shadow-anchored by Walmart Supercenter.
      375 N Lexington Springmill Rd, Ontario, OH
      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.
    3116-03118 12th St
    Cleveland, OH
    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.