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

    21600 Drake Rd Strongsville, OH

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Industrial property in Cuyahoga County, formerly a chemical distribution center.

    Property size:
    61,431 SF
    Lot size:
    22.44 Acres

    Property Features for 21600 Drake Rd

    General Information

    Size
    61,431 SF
    Lot size
    22.44 Acres

    We can help!

    Listing Contact
    Donald G Bain
    Source: Moodyscre

    Listing Agency: JLL | Cleveland Listing Agent: Donald G Bain

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

    Learn more

    Property Insight Report

    Overview

    Industrial Property in Strongsville, Ohio

    The property at 21600 Drake Road, Strongsville, Ohio, located in Cuyahoga County, is situated within a southwest submarket. Encompassing 61431 square feet, the property was previously used as a chemical mixing and distribution center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    CubeSmart Self Storage

    Location Insight

    • Map
    • Local Demand
    City
    Strongsville
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8552196
    Latitude
    41.3029994

    Nearby Similar for Sale

    • $350,000
      0.38 Acres

      Retail Building in Strongsville, OH

      Retail building with workshop and break room in Strongsville.
      8461 Pearl Rd, Strongsville, OH 44136
      View Details
    • $3,150,000
      6,187 SF

      Prime Retail Location For Sale

      Located in a super regional retail trade area.
      16620 Royalton Rd, Strongsville, OH
      View Details
    • $1,250,000
      9,460 SF

      Well-Maintained Office Building For Sale

      Office building with high visibility, ample parking, and highway access.
      18400 Pearl Rd, Strongsville, OH
      View Details
    • $1,450,000
      7,957 SF

      Ohio Childcare Center For Sale

      7,957 SF childcare center in Strongsville, OH for sale.
      17290 Pearl Rd, Strongsville, OH
      View Details
    • Contact for pricing
      3,103 SF

      NNN Restaurant Property For Sale

      Long-term NNN lease with attractive escalations in Strongsville, OH.
      12380 Pearl Rd, Strongsville, OH
      View Details
    • $3,253,460
      46,478 SF

      Strongsville Manufacturing Facility on Drake

      46,478 SF manufacturing facility with ample space.
      21845 Drake Rd, Strongsville, OH
      View Details
    • Contact for pricing
      1,420 SF

      Take 5 Oil Change

      NNN leased Take 5 Oil Change in Strongsville, Ohio.
      8874 Pearl Rd, Strongsville, OH
      View Details
    • Contact for pricing

      Strickland Brothers Auto Shop

      Drive-thru oil change service with maintenance check.
      18488 Pearl Rd, Strongsville, OH
      View Details
    • Contact for pricing
      19,130 SF

      Retail Property in Strongsville, OH

      Retail property with 19,130 square feet of space.
      16000 Foltz Pkwy, Strongsville, OH 44149
      View Details
    • Contact for pricing
      12,490 SF

      Climate Controlled Warehouse with Expansion

      12,490 SF warehouse with expansion potential near airport.
      8388 Dow Cir, Strongsville, OH 44136
      View Details
    • $5,500,000
      88,816 SF

      Strongsville Office HQ - 17 Acres

      Turnkey HQ, 88,816 SF, 17 acres
      15883 Sprague Rd, Strongsville, OH 44136
      View Details
    • $1,250,000
      9,460 SF

      Strongsville Office Building For Sale

      9,460 SF Office Building, Prime Location
      18400 Pearl Rd, Strongsville, OH 44136
      View Details

    FAQs

    What type of property is this?
    Warehouse - Industrial property in Cuyahoga County, formerly a chemical distribution center.
    Where is this warehouse located?
    The property is located at 21600 Drake Rd Strongsville, OH.
    What are key features of this property?
    This property features: - Located at 21600 Drake Road, Strongsville, Ohio; - Located in Cuyahoga County; - Located in a southwest submarket
    (216) 952-8895 Call to check price and availability
    Request Owner's contact information
    21600 Drake Rd Strongsville, OH
    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.
    21600 Drake Rd
    Strongsville, OH
    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
    21600 Drake Rd Strongsville, OH
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Donald G Bain
    Real Estate License ID: SAL.0000314090
    (216) 952-8895 (216) 861-7171 (216) 937-4377
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!