Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lakewood Retail Strip Center For Sale Title is generated by Realmo AI

    14900-15006 Detroit Ave, Lakewood, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Service-oriented strip center in a dynamic retail market.

    Type:RETAIL
    Lot size:
    0.20 Acres
    Added:
    Aug 5, 2025
    Days on Market:
    292
    Last Refresh:
    Apr 5 at 9:35 pm

    Property Features for 14900-15006 Detroit Ave

    General Information

    Standard status
    Active
    Lot size
    0.20 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Kyle Hartung
    Kyle Hartung

    Listing agent Kyle Hartung License #SAL.2003016343

    Listing office Goodman Real Estate

    Listing date Aug 5, 2025

    Source Moodyscre

    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 Goodman Real Estate

    HighLights

    • Located in a densely populated, high‑income area of Lakewood, Ohio, with over 100,000 residents within 3 miles.
    • Features a strong tenant mix of service‑oriented businesses with long‑term triple net leases.
    • Prime location on Detroit Road, across from The Cleveland Clinic, Marc’s Grocery, Starbucks, and Chipotle.
    • Shares a signalized entrance with Marc’s Grocery.
    • Property was completely remodeled in 2007, including roof, mechanical systems, facades, and parking.
    • Located in a dynamic retail and residential market.

    Overview

    This service-oriented strip center is located in Lakewood, Ohio, on Detroit Road, across from The Cleveland Clinic, Marc’s Grocery, Starbucks, and Chipotle. The property is situated in a densely-populated, high-income market with over 100,000 residents within a 3-mile radius, earning average household incomes exceeding $75,000. Lakewood features a high concentration of restaurants and is home to numerous national, regional, and local retailers. The building was completely remodeled in 2007, including the roof, mechanical systems, facades, and parking area. It shares a signalized entrance with Marc’s Grocery. The tenant mix includes Great Clips, PotBelly, Dave’s Hot Chicken, Cycle Fly, Beyond Juice, Lakewood Optical, and Battr, featuring long-term triple net leases with staggered lease terms.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.806
    Latitude
    41.4836

    Nearby Similar for Sale

    • $477,500
      6,020 SF

      Lakewood Four-Unit Multifamily Property

      Four-unit property near Lakewood Park with income potential.
      14916 Clifton Boulevard, Lakewood, OH 44107
      View Details
    • $350,000
      2,506 SF

      Lakewood Duplex with Turnkey Unit

      Spacious Lakewood duplex with remodeled unit and value-add potential.
      2215 Eldred Avenue, Lakewood, OH 44107
      View Details
    • $380,000
      2,885 SF

      Lakewood Multifamily Investment Opportunity

      Multifamily property in desirable Lakewood, near shops, restaurants, and highways.
      1363 Cranford Avenue, Lakewood, OH 44107
      View Details
    • $385,000
      3,079 SF

      Lakewood Duplex with Renovation Potential

      Duplex in desirable Lakewood, OH, with renovation potential.
      1629 Northland Avenue, Lakewood, OH 44107
      View Details
    • $434,900
      2,248 SF

      Lakewood Duplex with Modern Updates

      Updated Lakewood duplex near shopping, dining, and nightlife.
      1609 Westwood Avenue, Lakewood, OH 44107
      View Details
    • $449,000
      4,800 SF

      Renovated Lakewood Two-Family Home

      Fully renovated Lakewood duplex, ideal for owner-occupants or investors.
      1470-72 Ridgewood Avenue, Lakewood, OH 44107
      View Details
    • $325,000
      2,500 SF

      Lakewood Duplex with Updated Units

      Well-maintained duplex with updates and original charm in Lakewood.
      1275 Donald Avenue, Lakewood, OH 44107
      View Details
    • $439,900
      2,000 SF

      Lakewood Multifamily Property For Sale

      Remodeled duplex in Lakewood, ideal for rental or Airbnb.
      1605 Winchester Avenue, Lakewood, OH 44107
      View Details
    • $350,000
      2,364 SF

      Lakewood Duplex: Investment Opportunity

      Fully rented duplex in Lakewood, OH, generating $2,900/month.
      1259 Donald Avenue, Lakewood, OH 44107
      View Details
    • $489,000
      2,050 SF

      Lakewood Triplex: Investment Opportunity

      Charming Lakewood triplex, ideal for investors or owner-occupants.
      1296 Cook Avenue, Lakewood, OH 44107
      View Details
    • $335,000
      2,100 SF

      Updated Duplex in Lakewood

      Well-maintained Lakewood duplex with two spacious units and modern updates.
      2035 Chesterland Avenue, Lakewood, OH 44107
      View Details
    • $329,900
      2,022 SF

      Renovated Duplex in Prime Location

      Fully renovated duplex in Lakewood, near Lake Erie and Downtown.
      12929 Plover Street, Lakewood, OH 44107
      View Details

    FAQs

    What type of property is this?
    Strip mall - Service-oriented strip center in a dynamic retail market.
    Where is this strip mall located?
    The property is located at 14900-15006 Detroit Ave Lakewood, OH.
    What is the asking price?
    The asking price for this property is $5,487,000.
    What are key features of this property?
    This property features: Located in a densely populated, high‑income area of Lakewood, Ohio, with over 100,000 residents within 3 miles.; Features a strong tenant mix of service‑oriented businesses with long‑term triple net leases.; Prime location on Detroit Road, across from The Cleveland Clinic, Marc’s Grocery, Starbucks, and Chipotle.
    (216) 381-8200 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kyle Hartung
    Kyle Hartung
    Real Estate License ID: SAL.2003016343
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    14900-15006 Detroit Ave, Lakewood, OH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!