For Sale
$449,900
15 Grand Street, Berea, OH 44017
ResidentialIncome, Berea, OH
Property Size1,800 SF
Lot Size0.22 Acres
Price / SF$249.94
Days on Market67
Property Features for 15 Grand Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 3, Basement, Bedroom 1, Laundry Room, Bathroom 1, Bathroom 3
Parking features
Assigned, Garage
Interior features
WetBar, BuiltInFeatures, CeilingFans, CrownMolding, EatInKitchen, HisAndHersClosets, MultipleClosets, Storage, NaturalWoodwork
Exterior features
PrivateYard
Appliances
Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
Lot features
Flat, Front Yard, Level
View
City
Elementary school district
Berea CSD - 1804
Middle school district
Berea CSD - 1804
High school district
Berea CSD - 1804
Directions
East off Front, South of E Bagley
Standard status
Active
APN
364-05-018
Size
1,800 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
17 BEREA SEM S/L 18 SEP 0017 EP
Tax Annual Amount
9884
Legal Description
17 BEREA SEM S/L 18 SEP 0017 EP
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1925
Floors in Building
3
Building materials
AluminumSiding, VinylSiding
Roof type
Asphalt, Fiberglass
Additional Structures
Storage
Listing Agency:
RE/MAX Above & Beyond · RE/MAX International
(440) 835-7200
Listed By:
Christina Carpadis · License #2002020691
(216) 215-4232
Added: Jun 18
Changed: Aug 22
Last Checked: Aug 23 at 10:06AM
MLS# 5219773
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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
$19,085
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
4.24%
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%
$381,700
$381.7K
Cap Rate 7%
$272,643
$272.6K
Cap Rate 9%
$212,056
$212.1K
Market Conditions
NOI Build-Up for 1,800 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
$29.2K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$27.3K $15.15/SF
− OpEx
−$8.2K −$4.54/SF
NOI
$19.1K $10.60/SF
Area
Cuyahoga County, OH
Vacancy
6.50%
Lease Rate
$16.20 /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%
$381,700
Cap Rate 7%
$272,643
Cap Rate 9%
$212,056
Alternative Uses
Best Use
Multifamily LT 5
$272.6K
$238.6K – $318.1K
NOI $19,085 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$254.2K
$222.4K – $296.6K
NOI $17,794 @ 7.0% cap · market cap 3.96%
Theoretical Best
Warehouse
$1.44M
$1.26M – $1.68M
NOI $100,957 @ 7.0% cap · market cap 22.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this duplex located?
The property is located at 15 Grand Street Berea, OH.
What is the asking price?
The asking price for this property is $449,900.
