Add Listing
    For Lease
    • 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

    5851 Pearl Rd Parma Heights, OH

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

    Office space for rent with ample parking and frontage.

    Property size:
    1,276 SF
    Lot size:
    0.74 Acres

    Property Features for 5851 Pearl Rd

    General Information

    Size
    1,276 SF
    Lot size
    0.74 Acres

    We can help!

    Listing Contact
    Nanci V. Ferrante
    Source: Moodyscre

    Listing Agency: Cresco Real Estate | Cleveland Listing Agent: Nanci V. Ferrante

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

    Learn more

    Overview

    Office Space For Rent

    This office space is located approximately 7 minutes from I-480 at the intersection of Pearl and Snow Roads. The property benefits from abundant parking. It features 130 feet of frontage on Pearl Road and 255 feet of frontage on Twin Lakes Drive. The property includes an updated parking lot, landscaping, and common areas. On-site owner management is provided. The property contains 1,276 square feet of space.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Parma Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7595769
    Latitude
    41.3900518

    Nearby Similar for Lease

    • Contact for pricing
      12,000 SF

      Pearl Road Retail Space Available

      Retail space for lease with high traffic and dense population.
      6479 Pearl Rd, Parma Heights, OH
      View Details
    • Contact for pricing
      6,000 SF

      Freestanding Medical Building For Lease

      6,000 SF medical building with ample parking in Parma Heights.
      6700 Pearl Rd, Parma Heights, OH
      View Details
    • Contact for pricing
      5,252 SF

      Renovated Retail Space in Parma

      Retail spaces available in renovated Parma Heights plaza.
      6333-6339 Olde York Rd, Parma Heights, OH 44130
      View Details
    • Contact for pricing
      2,296 SF

      Parma Heights Retail Space Available

      2,296 SF former salon space on Pearl Rd for rent.
      6665 Pearl Rd, Parma Heights, OH
      View Details
    • Contact for pricing
      928 SF

      Retail Units on Pearl Road

      Retail units with frontage and dedicated parking in Parma Heights.
      6573-6579 Pearl Rd, Parma Heights, OH
      View Details
    • Contact for pricing
      4,278 SF

      Retail Space in Southpark Center

      Retail space for lease in a densely populated area.
      6853-6913 W 130 St, Parma Heights, OH
      View Details
    • Contact for pricing
      8,000 SF

      Former Restaurant Space Available

      8,000 SF former restaurant space with ample parking.
      6270-6286 Pearl Rd, Parma Heights, OH
      View Details
    • Contact for pricing
      2,320 SF

      Retail Space in Parma Heights

      Well-maintained retail spaces with high traffic and excellent parking.
      6370 York Rd, Parma Heights, OH
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space For Rent

      Retail space available for rent, build to suit.
      6444 Pearl Rd, Parma Heights, OH
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent with ample parking and frontage.
    Where is this office units located?
    The property is located at 5851 Pearl Rd Parma Heights, OH.
    What are key features of this property?
    This property features: - Abundant parking; - **130’ of frontage on Pearl Road & 255’ of frontage on Twin Lakes Drive**; - 7 minutes from I-480 located at Pearl & Snow Roads
    (216) 520-1200 Call to check price and availability
    Request Owner's contact information
    5851 Pearl Rd Parma Heights, 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.
    5851 Pearl Rd
    Parma Heights, 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
    5851 Pearl Rd Parma Heights, 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
    Nanci V. Ferrante
    (216) 520-1200 (216) 525-1496
    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!