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    205 Center St Seville, OH 44273

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    For Lease
    $12 SF/Yr ($14,386 /Mo)

    Two retail spaces available for lease in visible Homestead Plaza.

    Property size:
    14,386 SF
    Lot size:
    14,386 SF

    Property Features for 205 Center St

    General Information

    Size
    14,386 SF

    Building Details

    Year built
    2002

    We can help!

    Listing Contact
    Valeria Long
    Source: Sperrycga

    Listing Agent: Valeria Long

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

    Learn more

    Overview

    Retail Spaces in Homestead Plaza

    Two retail spaces are available for lease in the highly visible Homestead Plaza. Suite 239 offers 1498 square feet of open retail space, including a private office and restroom. Suite 255 provides 3000 square feet, featuring a reception area, a large bullpen, open space, four private offices, a kitchenette, storage, and two restrooms. The property fronts Center Street/State Route 3 and is located one mile east of Interstate 71 and half a mile south of the Interstate 76/State Route 3 interchange in the Village of Seville. The location offers good visibility on a corner near a traffic light, with easy access to Akron, Columbus, Cleveland, Canton, Medina, and two major airports. The surrounding area has good residential density. The property size is 14386 square feet.
    Location Intelligence

    Current Use by Public Records

    H&R Block Tax Preparation Service

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Seville
    County
    Medina
    State
    Ohio
    Longitude
    -81.8648042
    Latitude
    41.0257819

    Nearby Similar for Lease

    • Contact for pricing
      3,631 SF

      Wooster Pike Retail Opportunity

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    • $16 SF/Yr
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      Homestead Plaza Retail Space Available

      High-visibility retail space, Medina County.
      205 Center St, Seville, OH 44273
      View Details
    • $1,100 /Mo
      1,275 SF

      Retail Space in Seville, OH

      Retail space available for lease in Seville, Ohio.
      131-133 Greenwich Rd, Seville, OH 44273
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      Industrial Space with Highway Access

      Industrial property for lease with highway access and ample parking.
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    • $12 SF/Yr
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      Retail Space in Homestead Plaza

      Retail space available in Homestead Plaza with high visibility.
      205-255 Center St, Seville, OH 44273
      View Details

    FAQs

    What type of property is this?
    Retail space - Two retail spaces available for lease in visible Homestead Plaza.
    Where is this retail space located?
    The property is located at 205 Center St Seville, OH.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - High-visibility location in Homestead Plaza on Center St./SR 3.; - Easy access to major highways (I-71, I-76/SR-3) and multiple cities (Akron, Columbus, Cleveland, Canton, Medina).; - Suite 255 offers a versatile layout with reception area, open space, private offices, kitchenette, storage, and two restrooms.
    (216) 293-8900
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    205 Center St Seville, OH 44273
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    Seville, OH 44273
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    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
    205 Center St Seville, OH 44273
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    We can help!
    Listing Contact
    Valeria Long
    Real Estate License ID: OH #SAL.2022003074
    (216) 293-8900
    Learn more
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