Commercial Land With Existing
For Sale
$1,325,000
18820 Bagley Rd, Middleburg Heights, OH 44130
Redevelopment site with a renovated building, signalized access potential, and established medical surroundings.
Property Size8,453 SF
Price / SF$156.75
Days on Market35
Property Features for 18820 Bagley Rd
General Information
Standard status
Active
Size
8,453 SF
Building Details
Year Built
1985
Listing Agency:
Keller Williams Elevate
(440) 227-2615
Listed By:
Christopher Moscarino · License #2017000395
Source:
Theacclaimedrealty
Added: Jul 27
Changed: Aug 30
Last Checked: Aug 30 at 6:39AM
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 Keller Williams Elevate
Investment Insights
Based on property information with market context.
This commercial land parcel includes an 8,453-square-foot building positioned near the front of the site, with more than 3 acres overall. The property offers room for expansion, additional construction, or a broader site reconfiguration. The existing improvements were renovated between 2018 and 2020 and are occupied by three tenants, whose leases roll over in the coming months.
Located on Bagley Road in Middleburg Heights, the property is directly across from Southwest General Health Center and near established medical, retail, and professional users. Driveway access can connect to a signalized intersection, supporting controlled ingress and egress. I-71, I-480, the Ohio Turnpike, and Cleveland Hopkins International Airport are minutes away, with the airport approximately five minutes from the site.
Located on Bagley Road in Middleburg Heights, the property is directly across from Southwest General Health Center and near established medical, retail, and professional users. Driveway access can connect to a signalized intersection, supporting controlled ingress and egress. I-71, I-480, the Ohio Turnpike, and Cleveland Hopkins International Airport are minutes away, with the airport approximately five minutes from the site.
Key Highlights
- More than 3 acres with an 8,453‑square‑foot building at the front of the parcel
- Building renovations completed between 2018 and 2020
- Three existing tenants with leases rolling over in the coming months
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,442
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,668,840
$1.7M
Cap Rate 7%
$1,192,029
$1.2M
Cap Rate 9%
$927,133
$927.1K
Market Conditions
NOI Build-Up for 8,453 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$145.1K $17.16/SF
− Vacancy
−$33.8K −$4.00/SF
EGI
$111.3K $13.16/SF
− OpEx
−$27.8K −$3.29/SF
NOI
$83.4K $9.87/SF
Area
ZIP 44130
Vacancy
23.30%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,668,840
Cap Rate 7%
$1,192,029
Cap Rate 9%
$927,133
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,442 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,412 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
Explore this area
Business Placement
Demographics for 44130, OH
50,825
Population
23,819
Households
2.1
Avg Household Size
45
Median Age
28%
College-Educated
92%
High-School Grad
17.1 sq mi
ZIP Area
2,972
Density / Sq Mi
$68,099
Median Household Income
$43,474
Median Earnings
$1,045
Median Rent
$184,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Redevelopment site with a renovated building, signalized access potential, and established medical surroundings.
Where is this commercial land located?
The property is located at 18820 Bagley Rd Middleburg Heights, OH.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: More than 3 acres with an 8,453‑square‑foot building at the front of the parcel; Building renovations completed between 2018 and 2020; Three existing tenants with leases rolling over in the coming months
