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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Warehouses
317-321 156th St Cleveland, OH 44110
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US66-3070318
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1925
Construction
TYPE NOT SPECIFIED
Total area
7,500 SF
Lot
0.41 ac (17,885 SF)
Zoning code
LR
APN
113-15-032
UPID
US66-3070318
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
by Request
CAP Approach
CAP
$575k
Comparable Approach
Comparable
$400k
Blend (final)
Blend
$505k
Owner & transaction history
Lakshmi Estate LLC · 6 yrs held
Lakshmi Estate LLC
since 2019
7 recorded transactions
Zoning & alternative use
LR · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$815,000
+176.3%
Neighborhood: shopping center
$760,000
+157.6%
Auto repair, garage
$665,000
+126.2%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cleveland 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$625,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$815,000
Change: +176% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$760,000
Change: +158% · Conversion: Moderate
AUTO REPAIR, GARAGE
$665,000
Change: +126% · Conversion: Easy
COMMERCIAL (GENERAL)
$620,000
Change: +111% · Conversion: Difficult
RETAIL STORES
$480,000
Change: +63% · Conversion: Moderate
Blend value · Realmo final
$505k
Range $455k – $556k · ±10%
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
$67 / 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
$7,342
Tax year 2023
Assessed value
$73,510
Assessed 2023
Previous assessed
$73,510
+0.0% YoY
Effective rate
9.99%
On assessed value
Assessed land
$12,150
Assessed improvement
$61,360
Land market value
$34,700
Improvement market value
$175,300
Total market value
$210,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1925
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
4
Bathrooms
7
Total area
7,500 SF
Lot
0.41 ac (17,885 SF)
Zoning code
LR
APN
113-15-032
UPID
US66-3070318
Jurisdiction
CUYAHOGA
Zoning & alternative use
LR · Cleveland, OH
Zoning LR · permitted uses
LR · Cleveland, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cleveland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$815,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$760,000
AUTO REPAIR, GARAGE
Est. value
$665,000
COMMERCIAL (GENERAL)
Est. value
$620,000
RETAIL STORES
Est. value
$480,000
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
1925
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
4
Bathrooms
7
Lot
0.41 ac
Current owner
From public records · entity-resolved
Lakshmi Estate LLC
Entity
Mailing address
6548 DORSET LN, SOLON, OH 44139-6710
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2019
$210,000
Lakshmi Estate LLC
Northeast Shores Dev Corp
Grant Deed
$168,000 · First Nat'l Bk/pa
Jul 9, 2002
$80,000
Northeast Shores Dev Corp
Tibaldi,peter M
Grant Deed
$135,500 · Key Bank NA
Jun 23, 1999
$103,800
Reeder Properties INC
Tibaldi,peter M
Grant Deed
$103,800 · Individual
May 6, 1997
$107,000
Peter M Tibaldi
Schaefer,richard T
Trustees Deed
$80,250 · Republic Savings Bank
May 6, 1997
$112,000
Richard T Schaefer
Dinardo,eugene & Betty
Trustees Deed
—
—
—
Northeast Shores Dev Corp
—
Loan Modification
related
$130,000 · Charter One
—
—
Northeast Shores Dev Corp
—
Deed Of Trust
related
$130,000 · Charter One Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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