Restaurant Space in
For Sale
$990,000
14952 Pearl Rd, Cleveland, OH 44136
Restaurant space with liquor license and outdoor patio for sale.
Property Size6,869 SF
Price / SF$144.13
Days on Market261
Property Features for 14952 Pearl Rd
General Information
Standard status
Active
Size
6,869 SF
Property subtype
Retail
Building Details
Year Built
1967
Listing Agency:
Coldwell Banker Commercial Emmco Realty Group
(216) 292-3700
Listed By:
Mike McDowell
(216) 292-3700
Source:
Cbcworldwide
Added: Dec 3, 2025
Changed: Jul 6
Last Checked: Apr 9 at 9:00PM
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 Coldwell Banker Commercial Emmco Realty Group
Investment Insights
Based on property information with market context.
This 6,869 square-foot property includes 4,113 square feet of former restaurant space, situated on 0.97 acres in Strongsville's Pearl Road Retail Corridor. The sale includes all furniture, fixtures, and equipment, a liquor license, and the existing business. The space breakdown includes a restaurant area and an 812 square-foot storage or party room. The property features a large outdoor patio and bar. Located in a high-traffic, convenient location, the property benefits from excellent visibility, including a monument sign on Pearl Road. The average household income within a 5-mile radius is $100,550, with a population of 130,705 in the same radius. This is a business opportunity in Strongsville, a vibrant suburb of Cleveland, Ohio.
Key Highlights
- Includes all FF&E, Liquor License, and Existing Business
- Located in high‑traffic Pearl Road Retail Corridor
- Large outdoor patio and bar**
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
$86,240
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
8.71%
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%
$1,724,800
$1.7M
Cap Rate 7%
$1,232,000
$1.2M
Cap Rate 9%
$958,222
$958.2K
Market Conditions
NOI Build-Up for 6,869 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
$123.6K $18.00/SF
− Vacancy
−$8.7K −$1.26/SF
EGI
$115.0K $16.74/SF
− OpEx
−$28.7K −$4.19/SF
NOI
$86.2K $12.56/SF
Area
Cleveland, OH
Vacancy
7.00%
Lease Rate
$18.00 /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%
$1,724,800
Cap Rate 7%
$1,232,000
Cap Rate 9%
$958,222
Alternative Uses
Best Use
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,240 @ 7.0% cap · market cap 8.71%
Second Best
Retail
$942.8K
$824.9K – $1.10M
NOI $65,994 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,338 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44136, OH
25,890
Population
11,019
Households
2.3
Avg Household Size
45
Median Age
46%
College-Educated
94%
High-School Grad
13.5 sq mi
ZIP Area
1,918
Density / Sq Mi
$93,713
Median Household Income
$55,616
Median Earnings
$1,264
Median Rent
$271,300
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Similar Off Market Nearby
- Personal Chef, Special Event — 18298 Fox Hollow Dr, Strongsville, OH 44136
Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant space with liquor license and outdoor patio for sale.
Where is this restaurant located?
The property is located at 14952 Pearl Rd Cleveland, OH.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Includes all FF&E, Liquor License, and Existing Business; Located in **high‑traffic Pearl Road Retail Corridor**; Large outdoor patio and bar**
