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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Theaters & concert halls
6702 Detroit Ave Cleveland, OH 44102-3018
Entity Owned
13-yr Hold
Free & Clear
Property ID
US66-5467885
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
2014
Construction
TYPE NOT SPECIFIED
Total area
24,688 SF
Lot
0.43 ac (18,730 SF)
Zoning code
LR
APN
002-09-023
UPID
US66-5467885
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
Current use
Occupant on record · Public records
-
Near West Theatre Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$883k
Blend (final)
Blend
$640k
Owner & transaction history
Near West Theatre INC · 13 yrs held
Near West Theatre INC
since 2012
3 recorded transactions
Zoning & alternative use
LR · Cleveland, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$685,000
Current use
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$26 / 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
$8,766
Tax year 2023
Assessed value
$1,077,870
Assessed 2023
Previous assessed
$1,077,870
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$31,470
Assessed improvement
$1,046,400
Land market value
$89,900
Improvement market value
$2,989,700
Total market value
$3,079,600
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
2014
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
24,688 SF
Lot
0.43 ac (18,730 SF)
Zoning code
LR
APN
002-09-023
UPID
US66-5467885
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
THEATER (MOVIE) Current
Est. value
$685,000
THEATER (MOVIE) Current
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
2014
Construction
TYPE NOT SPECIFIED
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Near West Theatre INC
Entity
Free & Clear · 13 yrs held
Mailing address
6702 DETROIT AVE, CLEVELAND, OH 44102-3018
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2012
—
Near West Theatre INC
Gordon Square Arts District Ll
Quit Claim Deed
related
—
Nov 12, 2008
—
Gordon Sq Arts District LLC
Detroit Shoreway Cmnty Dev Org
Quit Claim Deed
related
—
Aug 21, 2008
$95,000
Shoreway Cmnty Dev Org Detroit
Caringi,larry
Warranty Deed
—
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.
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