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    4075 Monticello Blvd Cleveland Heights, OH 44121
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    Property profile & analytics

    4075 Monticello Blvd Cleveland Heights, OH 44121

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    • Commercial real estate
    • 45,420 SF
    • 2.28 lot acres
    Off-Market
    Property ID
    US66-6313924
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4075 Monticello Blvd

    Year built
    1962
    Lot size
    2.28 lot acres
    Property size
    45,420 SF
    Property type
    Commercial real estate
    APN
    682-18-007 ;791-18-035

    Description

    This exceptional investment opportunity presents two well-maintained multifamily properties in prime Cuyahoga County, Ohio locations. Belvoir Center (76 units), situated on 4.65 acres at 4075-4095 Monticello Blvd, Cleveland Heights, OH 44121, boasts 40 one-bedroom and 36 two-bedroom units, averaging 826 square feet. Built in 1962, this three-story, three-building complex features brick exteriors and flat roofs, with vinyl, carpet, laminate, and ceramic flooring. The property enjoys a 96.05% occupancy rate and benefits from its proximity to major employers, including nearby Amazon fulfillment centers. Stoneybrook Apartments (54 units), located at 21831 Libby Rd, Bedford Heights, OH 44146, sits on 2.28 acres. This three-story, four-building complex, also constructed in 1962, offers 24 one-bedroom, 27 two-bedroom, and three three-bedroom units, averaging 841 square feet. The buildings feature brick exteriors and gable roofs, with vinyl, carpet, laminate, and ceramic flooring. Both properties offer significant upside potential through renovations and interior upgrades, given the current market shortage of new construction and below-replacement costs. The combined portfolio totals 130 units, spread across seven buildings, with a total square footage ranging from 45,420 to 66,371. The properties are offered "free and clear," presenting an excellent opportunity for investors to leverage current interest rates and achieve strong cash-on-cash returns. Conveniently located near major employers, hospitals, and Cleveland Hopkins Airport, these properties represent a compelling investment in a strong rental market. Parcel numbers are 682-18-007 and 791-18-035. Parking is available for 60 vehicles.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5329343
    Latitude
    41.5365461

    Comparable in this City

    • $298,000
      5,028 SF

      South Euclid Triplex Investment

      Turnkey triplex with income potential in a prime location.
      1460 S Belvoir Blvd, South Euclid, OH 44121
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    • $300,000
      Pending

      South Euclid Brick Duplex Investment

      Well-maintained duplex on half an acre, ideal for investment.
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      14,020 SF

      Retail Space Available

      Retail space for sale, 14020 square feet.
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      10,159 SF

      Cleveland Heights Retail Building For Sale

      10,159 SF building with drive-thru and ample parking.
      3825 Monticello Blvd, Cleveland Heights, OH 44121
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      0.14 Acres

      Cleared Lot in Cleveland Heights

      Cleared land lot suitable for building a home.
      1161 Pomona Rd, Cleveland Heights, OH 44121
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      11,679 SF

      Advance Auto Parts For Sale

      Advance Auto Parts with long-term lease in South Euclid, Ohio.
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    Similar Nearby for Sale

    • $298,000
      5,028 SF

      South Euclid Triplex Investment

      Turnkey triplex with income potential in a prime location.
      1460 S Belvoir Blvd, South Euclid, OH 44121
      View Details
    • $300,000
      Pending

      South Euclid Brick Duplex Investment

      Well-maintained duplex on half an acre, ideal for investment.
      2108 S Belvoir Blvd, South Euclid, OH 44121
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      14,020 SF

      Retail Space Available

      Retail space for sale, 14020 square feet.
      4460 Mayfield Rd, South Euclid, OH 44121
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    • Contact for pricing
      10,159 SF

      Cleveland Heights Retail Building For Sale

      10,159 SF building with drive-thru and ample parking.
      3825 Monticello Blvd, Cleveland Heights, OH 44121
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    • Contact for pricing
      0.14 Acres

      Cleared Lot in Cleveland Heights

      Cleared land lot suitable for building a home.
      1161 Pomona Rd, Cleveland Heights, OH 44121
      View Details
    • Contact for pricing
      11,679 SF

      Advance Auto Parts For Sale

      Advance Auto Parts with long-term lease in South Euclid, Ohio.
      4105 Mayfield Rd, South Euclid, OH 44121
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in High-Traffic Area

      3,557 SF retail space at a busy intersection.
      4505 Mayfield Rd, South Euclid, OH 44121
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    • Contact for pricing

      Retail Space on Mayfield Road

      Retail spaces available in high-traffic, densely populated area.
      5141 Mayfield Rd, Cleveland, OH 44121
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    Cleveland Heights, OH 44121
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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.

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