Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Community Shopping Center Retail Space Title is generated by Realmo AI

    1519-1633 Mayfield Rd, Mayfield Heights, OH

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space available in dominant community shopping center.

    Type:RETAIL
    Property size:
    5,250 SF
    Lot size:
    22.79 Acres
    Added:
    Jul 5, 2024
    Days on Market:
    702
    Last Refresh:
    May 20 at 9:47 pm

    Property Features for 1519-1633 Mayfield Rd

    General Information

    Standard status
    Active
    Size
    5,250 SF
    Lot size
    22.79 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1519-1633 Mayfield Rd Contact us

    We can help!

    Listing Contact
    Vincenzo Calabrese
    Vincenzo Calabrese

    Listing agent Vincenzo Calabrese License #2020004495

    Listing office Hanna Commercial Real Estate | Cleveland

    Listing date Jul 5, 2024

    Source Moodyscre

    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 Hanna Commercial Real Estate | Cleveland

    HighLights

    • Tremendous highway exposure to I‑271 & Mayfield Road.
    • Anchored by Fresh Thyme Market, Marshalls, PetSmart, JoAnn Fabrics, and Bob’s Discount Furniture.
    • Dominant community anchored shopping center serving eastern suburbs of Cleveland.
    • Total Shopping Center GLA: 373,190.
    • Freestanding Conrad’s automotive service building coming available – 7,284 SF.
    • Strong tenant allowance packages available.

    Overview

    This retail space is located within a dominant community shopping center that serves the eastern suburbs of Cleveland. The shopping center is anchored by Fresh Thyme Market, Marshalls, PetSmart, JoAnn Fabrics, and Bob’s Discount Furniture. The location offers significant highway exposure on I-271 and Mayfield Road, with traffic volumes of 125,554 and 37,489 vehicles per day, respectively. The available space includes a freestanding Conrad’s automotive service building with 7,284 square feet. The total shopping center gross leasable area (GLA) is 373,190 square feet. Strong tenant allowance packages are available. The property size is 5,250 square feet.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Golden Gate — 1545 Golden Gate Plaza, Mayfield Heights, OH 44124
    • Coinstar Kiosk | Bitcoin ATM — Giant Eagle, 6259 Mayfield Road, Mayfield Heights, OH 44124

    Map

    City
    Mayfield Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.457896
    Latitude
    41.5192189

    Nearby Similar for Lease

    • $24 SF/Yr
      10,450 SF

      Landerbrook Corporate Center I Office

      Office space available for lease in Landerbrook Corporate Center.
      5900 Landerbrook Dr, Mayfield Heights, OH
      View Details
    • $22 SF/Yr
      94,565 SF

      Class A Suburban Office Building

      Flexible office space in a business park setting.
      6055 Parkland Boulevard, Mayfield Heights, OH, 44124
      View Details
    • $16 SF/Yr
      5,095 SF

      Landerhaven Corporate Park Office Space

      Office space in a corporate park with many amenities.
      6085 Parkland Blvd, Mayfield Heights, OH
      View Details
    • $22 SF/Yr
      14,102 SF

      Office Space in Corporate Park

      Office space for rent in Mayfield Heights, Ohio.
      6060 Parkland Blvd, Mayfield Heights, OH
      View Details
    • $18 SF/Yr
      4,080 SF

      Class A Office Space Available

      Three-story Class A office building with multiple suite sizes.
      6120 Parkland Dr, Mayfield Heights, OH
      View Details
    • $24 SF/Yr
      113,000 SF

      Mayfield Heights Office Space Available

      Up to 113,000 SF office space for lease.
      5920 Landerbrook Dr, Mayfield Heights, OH
      View Details
    • $22 SF/Yr
      35,547 SF

      Class A Suburban Office Building

      Flexible office space in a business park setting.
      6055 Parkland Blvd, Mayfield Heights, OH
      View Details
    • $19 SF/Yr
      14,132 SF

      Office Space in Landerhaven Park

      Corporate headquarters with classic architecture and abundant parking.
      6095 Parkland Blvd, Mayfield Heights, OH
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space on Premier Corner

      1,750 SF retail space available 4/1/2026 on Mayfield Rd.
      6383-6431 Mayfield Rd, MAYFIELD HEIGHTS, OH
      View Details
    • Contact for pricing
      2,478 SF

      Former Bank Branch For Lease

      2,478 SF former bank branch with ample parking.
      Mayfield Rd, Mayfield Heights, OH
      View Details
    • Contact for pricing
      2,483 SF

      Retail Space in High-Traffic Area

      Retail spaces available in a well-established, high-traffic retail corridor.
      5901 Mayfield Rd, Mayfield Heights, OH
      View Details
    • Contact for pricing
      82,133 SF

      Retail Space Near Cleveland Clinic

      Retail property in Mayfield Heights, close to Interstate 271.
      6600 Mayfield Rd, Mayfield Heights, OH
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in dominant community shopping center.
    Where is this shopping center located?
    The property is located at 1519-1633 Mayfield Rd Mayfield Heights, OH.
    What are key features of this property?
    This property features: Tremendous highway exposure to I‑271 & Mayfield Road.; Anchored by Fresh Thyme Market, Marshalls, PetSmart, JoAnn Fabrics, and Bob’s Discount Furniture.; Dominant community anchored shopping center serving eastern suburbs of Cleveland.
    (216) 861-5286 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Vincenzo Calabrese
    Vincenzo Calabrese
    Real Estate License ID: 2020004495
    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

    Thank You for Inquiry
    1519-1633 Mayfield Rd, Mayfield Heights, OH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!