Sign Up Successful!
You now have access to more from Realmo!
    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

    2804 Som Ctr Rd Willoughby Hills, OH

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,900,000

    Well-maintained retail space with convenient highway access and ample parking.

    Property size:
    2,400 SF
    Lot size:
    1.86 Acres

    Property Features for 2804 Som Ctr Rd

    General Information

    Size
    2,400 SF
    Lot size
    1.86 Acres

    We can help!

    Listing Contact
    Michael Hirsch
    Michael Hirsch
    Source: Moodyscre

    Listing Agent: Michael Hirsch

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

    Learn more

    Overview

    Retail Space on Som Center

    This 2,400-square-foot retail space is easily accessible from major highways, including I-90 and I-271. On-site parking is available. The space is well-maintained and immediately available, with infrastructure adaptable to meet a variety of business needs. The property is located near dining options, retail shops, and professional services.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Willoughby Hills
    County
    Lake
    State
    Ohio
    Longitude
    -81.4663475
    Latitude
    41.5977963

    Nearby Similar for Lease

    • Contact for pricing
      4,289 SF

      Willoughby Hills Medical Office Space

      Prime Ohio medical/executive suites available.
      34820 Chardon Rd, Willoughby Hills, OH 44094
      View Details
    • Contact for pricing
      2,285 SF

      Willoughby Hills Retail/Office Space

      Prime freestanding building, 2,285 SF vacant.
      2765 Som Ctr Rd, Willoughby Hills, OH 44094
      View Details
    • Contact for pricing
      15,409 SF

      Willoughby Hills Medical Office Space

      Class A medical office suites available. Excellent location, ample space.
      2785 Som Ctr Rd, Willoughby Hills, OH 44094
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space in Willoughby Hills

      Retail space available at a busy intersection in Willoughby Hills.
      28301 Chardon Rd, Willoughby Hills, OH
      View Details
    • Contact for pricing
      4,531 SF

      Freestanding Bank Building with Drive-Thru

      4,531 SF bank building with three drive-thru lanes.
      27701 Chardon Rd, Willoughby Hills, OH
      View Details
    • Contact for pricing

      Grocery-Anchored Shopping Center Available

      391,289 SF shopping center south of I-90.
      28101 Chardon Rd, Willoughby Hills, OH
      View Details
    • $10 SF/Yr
      13,400 SF

      Retail Space in Willoughby Hills

      13,400 SF available for sublease in Willoughby Hills, OH.
      27505-27845 Chardon Rd, Willoughby Hills, OH
      View Details
    • Contact for pricing
      2,285 SF

      Freestanding Bank Building For Rent

      2,285 SF bank building on 0.75 AC available for rent.
      2765 Som Ctr Rd, Willoughby Hills, OH
      View Details
    • Contact for pricing
      7,338 SF

      Office Space Near I-90

      Office space available near I-90 with ample parking.
      2785 Som Ctr Rd, Willoughby Hills, OH
      View Details
    • Contact for pricing
      1,176 SF

      Renovated Office Building Near Highways

      Two-story office building with convenient highway access and renovated common areas.
      35010 Chardon Rd, Willoughby Hills, OH
      View Details

    FAQs

    What type of property is this?
    Retail space - Well-maintained retail space with convenient highway access and ample parking.
    Where is this retail space located?
    The property is located at 2804 Som Ctr Rd Willoughby Hills, OH.
    What are key features of this property?
    This property features: - Convenient Access: Easily accessible from major highways I-90 and I-271.; - Ample Parking: On-site parking available for clients and staff.; - Move-In Ready: Well-maintained and immediately available space.
    (216) 514-1400
    Request Owner's contact information
    2804 Som Ctr Rd Willoughby Hills, 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.
    2804 Som Ctr Rd
    Willoughby Hills, 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
    2804 Som Ctr Rd Willoughby Hills, 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!
    Listing Contact
    Michael Hirsch
    Michael Hirsch
    Real Estate License ID: OH SAL.0000448671
    (216) 514-1400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.