Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1055 W Royalton Rd Broadview Heights, OH 44147

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Move-in-ready and shell space available in Broadview Heights, OH.

    Type:Retail
    Property size:
    4,550 SF
    Added:
    Dec 1, 2022
    Days on Market:
    1247
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 1055 W Royalton Rd

    General Information

    Standard status
    Active
    Size
    4,550 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2018

    Spaces For Lease

    at 1055 W Royalton Rd Contact us

    We can help!

    Listing Contact
    Gilli Zofan

    Listing agent Gilli Zofan License #OH #2017000450

    Listing office Colliers - Columbus, Ohio

    Listing date Dec 1, 2022

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Columbus, Ohio

    Overview

    Modern Retail Opportunity in Broadview

    This modern 4,550 square foot building, constructed in 2018, presents a prime retail opportunity in Broadview Heights, Ohio. One 2,275 square foot suite is move-in-ready medical space, previously used as an Urgent Care facility. The other 2,275 square foot suite is a shell space suitable for a variety of uses. Located in the premier retail area of Broadview Heights, a suburb of the Cleveland Metropolitan area, the property benefits from high traffic counts of over 31,700 vehicles per day on West Royalton Road and offers excellent visibility from the road. A double-sided two-tenant monument sign enhances the property's visibility. This location is ideal for various end users or investors seeking a value-add opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hotel & Motel Kitchen & Bath Showroom Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Broadview Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6781
    Latitude
    41.3194

    Nearby Similar for Lease

    • $22 SF/Yr

      Broadview Heights Office Space Available

      Two-story office building with suites available for lease.
      6001 East Royalton Road, Broadview Heights, OH, 44147
      View Details
    • Contact for pricing

      Freestanding Retail/Office/Daycare Opportunity

      8,800 SF freestanding building on 1.1 AC in Broadview Heights.
      8161 Broadview Road, Broadview Heights, OH, 44147
      View Details
    • Contact for pricing

      Broadview Heights Office Property For Rent

      Office property in Broadview Heights with tenant amenities available for lease.
      9100 South Hills Boulevard, Broadview Heights, OH 44147
      View Details
    • Contact for pricing

      Broadview Heights Office Property For Rent

      60,000 SF office property in Broadview Heights, Ohio.
      9150 South Hills Boulevard, Broadview Heights, OH 44147
      View Details
    • Contact for pricing

      Broadview Heights Office Space Available

      Office property in Broadview Heights with tenant amenities for lease.
      9200 South Hills Boulevard, Broadview Heights, OH 44147
      View Details
    • $11 SF/Yr

      Office Space in Business Park

      Office space available in well-established Broadview Heights business park.
      700-790 Ken Mar Industrial Pkwy, Broadview Heights, OH
      View Details
    • $18 SF/Yr

      Updated Office Building Suites

      Well-maintained office suites available for lease.
      150 Sprague Rd, Broadview Heights, OH
      View Details
    • Contact for pricing

      Retail Space on Broadview Road

      Retail space available in Broadview Heights, Ohio.
      7977-8005 Broadview Rd, Broadview Heights, OH
      View Details
    • Contact for pricing

      Retail Space on Broadview Road

      Retail space available for lease on Broadview Road.
      7977 Broadview Rd, Broadview Heights, OH
      View Details
    • $22 SF/Yr

      Broadview Heights Office Space Available

      Two-story office building with suites available for lease.
      6001 Royalton Rd, Broadview Heights, OH
      View Details
    • $23 SF/Yr

      Broadview Heights Office Space Available

      Office space for rent in Broadview Heights, Ohio.
      9150 S Hills Boulevard, Broadview Heights, OH
      View Details
    • Contact for pricing

      Turnkey Salon and Spa Space

      Salon and spa space available for rent in Broadview Heights.
      500-550 Royalton Rd , Broadview Heights, OH
      View Details

    FAQs

    What type of property is this?
    Retail space - Move-in-ready and shell space available in Broadview Heights, OH.
    Where is this retail space located?
    The property is located at 1055 W Royalton Rd Broadview Heights, OH.
    What are key features of this property?
    This property features: Prime retail location in Broadview Heights, OH; High traffic counts of 31,700 VPD on W Royalton Road; Modern building constructed in 2018
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gilli Zofan
    Real Estate License ID: OH #2017000450
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!