Net-Leased Retail
For Sale
Contact for pricing
1350 W Bagley Rd, Berea, OH 44017
Retail outparcel with two net-leased tenants, including Southwest General Health Center and a barber saloon.
Property Size3,000 SF
Price / SF$231.67
Days on Market142
Property Features for 1350 W Bagley Rd
General Information
Standard status
Active
Size
3,000 SF
Property subtype
RETAIL
Additional Details
Business Included
No
Building Details
Tenancy
Multi
Listing Agency:
CBRE | Cleveland
(216) 687-1800
Listed By:
Dan Mayer
(216) 363-6437
Source:
Moodyscre
Added: Apr 24
Changed: Aug 14
Last Checked: Sep 11 at 10:24AM
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 CBRE | Cleveland
Investment Insights
Based on property information with market context.
This retail outparcel features two tenants under net lease structures. The provided tenant roster includes Southwest General Health Center and LegoHeadz Barber Saloon, with base rent increases scheduled over the lease terms.
The property is described as being adjacent to Bagley Commons and near several nearby dining and service establishments, including Burger King, Taco Bell, Broad View Eye Center, and Rise & Grind Cafe.
As an investment offering, the asset is presented as having efficient management with both leases in place, each subject to base rent increases over the term.
The property is described as being adjacent to Bagley Commons and near several nearby dining and service establishments, including Burger King, Taco Bell, Broad View Eye Center, and Rise & Grind Cafe.
As an investment offering, the asset is presented as having efficient management with both leases in place, each subject to base rent increases over the term.
Key Highlights
- Retail outparcel with two net‑leased tenants
- Tenants include Southwest General Health Center and LegoHeadz Barber Saloon
- Both leases have base rent increases over the lease term
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
$28,665
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
4.12%
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%
$573,300
$573.3K
Cap Rate 7%
$409,500
$409.5K
Cap Rate 9%
$318,500
$318.5K
Market Conditions
NOI Build-Up for 3,000 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
$45.0K $15.00/SF
− Vacancy
−$4.1K −$1.35/SF
EGI
$41.0K $13.65/SF
− OpEx
−$12.3K −$4.10/SF
NOI
$28.7K $9.56/SF
Area
Cuyahoga County, OH
Vacancy
9.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$573,300
Cap Rate 7%
$409,500
Cap Rate 9%
$318,500
Alternative Uses
Best Use
Retail
$409.5K
$358.3K – $477.8K
NOI $28,665 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.40M
$2.10M – $2.80M
NOI $168,261 @ 7.0% cap · market cap 24.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
8k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 94%
Shops & Services 6%
Burger King
Dining
7,254 visits/mo
0.1 miles
Gerber Collision & Glass
Shops & Services
475 visits/mo
0.1 miles
Demographics for 44017, OH
18,611
Population
7,359
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
96%
High-School Grad
6.1 sq mi
ZIP Area
3,051
Density / Sq Mi
$72,044
Median Household Income
$37,182
Median Earnings
$981
Median Rent
$187,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Little Shop of Holly's — 682 W Bagley Rd #1A, Berea, OH 44017
- Cutting Garden — 25561 Mill St, Olmsted Falls, OH 44138
Frequently Asked Questions
What type of property is this?
Storefront property - Retail outparcel with two net-leased tenants, including Southwest General Health Center and a barber saloon.
Where is this storefront property located?
The property is located at 1350 W Bagley Rd Berea, OH.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Retail outparcel with two net‑leased tenants; Tenants include Southwest General Health Center and LegoHeadz Barber Saloon; Both leases have base rent increases over the lease term
