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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9617 Lamontier Ave Cleveland, OH 44104

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5980121
    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

    • Commercial real estate

    Property Details for 9617 Lamontier Ave

    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents three duplexes totaling six units, situated in prime Cleveland, Ohio neighborhoods. The portfolio offers a compelling value-add proposition, with each property requiring some renovations to unlock its full potential. The asking price is $75,000, representing a compelling $12,500 per unit cost. Currently vacant, the properties present a blank canvas for customization and maximizing rental income. Individual unit details include: one duplex at 8918 Easton Ave (Cleveland, OH 44104) features six bedrooms, two bathrooms, and 1,496 square feet, with an after-repair value (ARV) of $130,000 and potential rent of $1,900; a second duplex at 9617 Lamontier Ave (Cleveland, OH 44104) offers four bedrooms, two bathrooms, and 1,408 square feet, with an ARV of $120,000 and potential rent of $1,700; and a third duplex at 14725 Elm Ave (East Cleveland, OH 44112) includes four bedrooms, two bathrooms, and 2,032 square feet, with an ARV of $110,000 and potential rent of $1,700. The properties are classified as Class B and boast a projected 13% capitalization rate. This portfolio presents a unique chance to acquire a multifamily investment at an affordable entry price, offering significant rental income potential and the opportunity for substantial value appreciation through strategic renovations. The properties can also be sold individually.

    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
    -81.618019936641
    Latitude
    41.478063403654

    Comparable in this City

    • $109,900

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      Investment opportunity: renovated duplex with immediate occupancy potential.
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    • $155,000
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      Updated Triplex Generating Rental Income

      Updated triplex generating $2,375 monthly, ideal for investors.
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    • $169,900
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      Well-Maintained Duplex with Three-Car Garage

      Updated duplex featuring spacious units and a detached three-car garage.
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    • $145,000
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      Renovated Multifamily Investment Opportunity

      Turnkey multifamily property in rapidly developing Cleveland area.
      3272 E 103Rd St, Cleveland, OH 44104
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    • $104,900
      2,304 SF

      Fully Rented Cleveland Duplex

      Turnkey duplex in great condition with immediate cash flow.
      3439 E 104Th St, Cleveland, OH 44104
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    • $40,000
      0.08 Acres

      Cleveland Multifamily Investment Opportunity

      Two properties on one parcel with income potential.
      9920 Cumberland Ave, Cleveland, OH 44104
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    Similar Nearby for Sale

    • $109,900

      Cleveland Duplex with Recent Updates

      Investment opportunity: renovated duplex with immediate occupancy potential.
      9107 Laisy Ave, Cleveland, OH 44104
      View Details
    • $155,000
      2,772 SF

      Updated Triplex Generating Rental Income

      Updated triplex generating $2,375 monthly, ideal for investors.
      11117 Melba Ave, Cleveland, OH 44104
      View Details
    • $169,900
      Pending

      Well-Maintained Duplex with Three-Car Garage

      Updated duplex featuring spacious units and a detached three-car garage.
      2506 E 111Th St, Cleveland, OH 44104
      View Details
    • $145,000
      Pending

      Renovated Multifamily Investment Opportunity

      Turnkey multifamily property in rapidly developing Cleveland area.
      3272 E 103Rd St, Cleveland, OH 44104
      View Details
    • $104,900
      2,304 SF

      Fully Rented Cleveland Duplex

      Turnkey duplex in great condition with immediate cash flow.
      3439 E 104Th St, Cleveland, OH 44104
      View Details
    • $40,000
      0.08 Acres

      Cleveland Multifamily Investment Opportunity

      Two properties on one parcel with income potential.
      9920 Cumberland Ave, Cleveland, OH 44104
      View Details

    Similar Nearby for Lease

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      118,892 SF

      Brooklyn Flex Space Available

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      Cleveland Warehouse Space for Rent

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    • $96 SF/Yr
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      Arbor Park Place Retail Center

      Cleveland retail space, multiple units available
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      3,960 SF

      Retail Space in Cleveland, OH

      Retail space available for lease in Cleveland, Ohio.
      2286-2288 E 55Th St, Cleveland, OH 44104
      View Details
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    9617 Lamontier Ave
    Cleveland, OH 44104
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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.

    More about this property
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