Listing Agency: CBRE | Cleveland Show Phone

Listed By: Joseph Khouri · License #2008000837 Show Phone

Source: Moodyscre

Added: Sep 24, 2025 Changed: Sep 4 Last Checked: Sep 15 at 9:32AM

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Investment Insights

Based on property information with market context.

Retail space at 1633 Pearl Rd in Brunswick, OH, zoned C-G General commercial. The property supports a broad range of permitted uses, including financial institutions, medical office, vet office, educational uses, restaurants, religious places, personal services, and more. The remarks note that used car sales are prohibited, while new car sales are conditionally permitted within the zoning district.

Visibility and access are supported by high traffic counts of 16,134 VPD on Pearl (per ODOT TIMS). Ceiling height is 14 ft 9 in to joist and 17 ft 5 in to deck, providing flexibility for a variety of retail layouts and back-of-house needs.

The surrounding retail mix includes national and regional retailers such as Meijer, Home Depot, Giant Eagle, Scene 75, and Discount Drug Mart. Nearby dining options mentioned include Chick-Fil-A, First Watch, Mission BBQ, and Chipotle. A 3-mile population of 43,423 people supports neighborhood-scale demand for many C-G compatible use types.

Key Highlights

• Zoned C‑G General commercial; used car sales prohibited and new car sales conditionally permitted
• Ceiling height 14 ft 9 in to joist and 17 ft 5 in to deck
• 16,134 VPD on Pearl (ODOT TIMS)

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

$37,702

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

4.21%

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%

$754,040 $754.0K

Cap Rate 7%

$538,600 $538.6K

Cap Rate 9%

$418,911 $418.9K

Market Conditions

NOI Build-Up for 9,500 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

$55.9K $5.88/SF

− Vacancy

−$2.0K −$0.21/SF

EGI

$53.9K $5.67/SF

− OpEx

−$16.2K −$1.70/SF

NOI

$37.7K $3.97/SF

Area

Medina County, OH

Vacancy

3.58%

Lease Rate

$5.88 /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%

$754,040

Cap Rate 7%

$538,600

Cap Rate 9%

$418,911

Alternative Uses

Best Use

Retail

$538.6K

$471.3K – $628.4K (±1% cap)

NOI $37,702 @ 7.0% cap · market cap 4.21%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$2.65M

$2.32M – $3.09M (±1% cap)

NOI $185,488 @ 7.0% cap · market cap 20.72%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

KDK auto broker Car Dealership KDK Cash for Cars Car Dealership

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Law Firm Restaurant Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16,134 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

389

Businesses Nearby

75k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 51% Shops & Services 24% Groceries 13% Superstores 10%

McDonald's Dining

24,176 visits/mo 0.1 miles

Speedway Shops & Services

10,123 visits/mo 0.2 miles

Dollar General Market Groceries

9,896 visits/mo 0.2 miles

Taco Bell Dining

8,492 visits/mo 0.3 miles

Big Lots Superstores

7,149 visits/mo 0.3 miles

Demographics for 44212, OH

45,749

Population

19,101

Households

2.4

Avg Household Size

42

Median Age

30%

College-Educated

93%

High-School Grad

21.0 sq mi

ZIP Area

2,179

Density / Sq Mi

$87,776

Median Household Income

$49,175

Median Earnings

$1,135

Median Rent

$244,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Retail space - C-G general commercial retail on Pearl Rd with ceiling height up to 17 ft 5 in and high traffic counts.

Where is this retail space located?

The property is located at 1633 Pearl Rd Brunswick, OH.

What is the asking price?

The asking price for this property is $895,000.

What are key features of this property?

This property features: Zoned C‑G General commercial; used car sales prohibited and new car sales conditionally permitted; Ceiling height 14 ft 9 in to joist and 17 ft 5 in to deck; 16,134 VPD on Pearl (ODOT TIMS)