Retail Shopping Center with Developable
For Sale
Contact for pricing
14910 State Rte 58, Oberlin, OH 44074
Retail shopping center featuring a developable pad near a Walmart shadow center in College Town.
Property Size35,174 SF
Price / SF$128.56
Days on Market118
Property Features for 14910 State Rte 58
General Information
Standard status
Active
Size
35,174 SF
Property subtype
RETAIL
Listing Agency:
Landmark Commercial Real Estate Services
Listed By:
Jason Greenspan · License #6501378141
(248) 488-2620
Source:
Moodyscre
Added: May 15
Changed: Sep 2
Last Checked: Sep 8 at 7:33AM
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 Landmark Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This for-sale retail shopping center includes space within a Walmart shadow center and is described as having strong access. The property is also characterized in the public remarks as having national tenants.
In addition to the existing retail configuration, the listing notes a developable pad, which may support future value-add opportunities. The remarks also reference an overall leveraged return potential, positioning the asset as a development-minded retail option in a College Town setting.
For buyers and brokers evaluating retail fundamentals and redevelopment flexibility, the key differentiator highlighted here is the combination of an established retail center with a noted developable pad.
In addition to the existing retail configuration, the listing notes a developable pad, which may support future value-add opportunities. The remarks also reference an overall leveraged return potential, positioning the asset as a development-minded retail option in a College Town setting.
For buyers and brokers evaluating retail fundamentals and redevelopment flexibility, the key differentiator highlighted here is the combination of an established retail center with a noted developable pad.
Key Highlights
- Retail shopping center with a developable pad
- Located near a Walmart shadow center in a college town setting
- Noted as having national tenants
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
$353,815
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
7.82%
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%
$7,076,300
$7.1M
Cap Rate 7%
$5,054,500
$5.1M
Cap Rate 9%
$3,931,278
$3.9M
Market Conditions
NOI Build-Up for 35,174 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
$527.6K $15.00/SF
− Vacancy
−$22.2K −$0.63/SF
EGI
$505.5K $14.37/SF
− OpEx
−$151.6K −$4.31/SF
NOI
$353.8K $10.06/SF
Area
Lorain County, OH
Vacancy
4.20%
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%
$7,076,300
Cap Rate 7%
$5,054,500
Cap Rate 9%
$3,931,278
Alternative Uses
Best Use
Retail
$5.05M
$4.42M – $5.90M
NOI $353,815 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.86M
$7.76M – $10.34M
NOI $620,469 @ 7.0% cap · market cap 13.72%
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
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
144k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 44%
Shops & Services 23%
Dining 12%
Groceries 11%
Walmart
Superstores
63,884 visits/mo
0.3 miles
Aldi
Groceries
16,442 visits/mo
0.2 miles
Wendy's
Dining
14,881 visits/mo
0.1 miles
Murphy USA
Shops & Services
13,355 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
9,816 visits/mo
0.1 miles
Demographics for 44074, OH
11,957
Population
4,038
Households
3
Avg Household Size
36
Median Age
43%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
235
Density / Sq Mi
$73,697
Median Household Income
$17,979
Median Earnings
$943
Median Rent
$229,000
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.
Frequently Asked Questions
What type of property is this?
Shopping center - Retail shopping center featuring a developable pad near a Walmart shadow center in College Town.
Where is this shopping center located?
The property is located at 14910 State Rte 58 Oberlin, OH.
What is the asking price?
The asking price for this property is $4,522,100.
What are key features of this property?
This property features: Retail shopping center with a developable pad; Located near a Walmart shadow center in a college town setting; Noted as having national tenants
