Freestanding Storefront
New
For Sale
$185,000
21950 Euclid Ave, Euclid, OH 44117
Flexible layout supports retail, office, or service-oriented business use.
Property Size1,603 SF
Price / SF$115.41
Days on Market2
Property Features for 21950 Euclid Ave
General Information
Standard status
Active
Size
1,603 SF
Property Condition
Severity
Repairs Needed
Evidence
needed updates
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Building Details
Year Built
1927
Buildings
1
Listing Agency:
Keller Williams Greater Cleveland Northeast
Listed By:
Celeste Osborne, Rick Osborne
Source:
Theacclaimedrealty
Added: Sep 18
Last Checked: Sep 18 at 2:46PM
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 Keller Williams Greater Cleveland Northeast
Investment Insights
Based on property information with market context.
This freestanding storefront property contains 1,603 square feet and was built in 1927. The building was formerly used as a residence and now offers a flexible interior arrangement that can accommodate retail, office, or service-oriented business functions. Updates are needed, providing an opportunity to adapt the space to a new commercial use.
The property is located on Euclid Avenue, where reported daily traffic exceeds 25,000 vehicles. It offers convenient access, parking options, and proximity to local transit and highways. The combination of a standalone building, adaptable layout, and established corridor exposure supports a range of commercial applications.
The property is located on Euclid Avenue, where reported daily traffic exceeds 25,000 vehicles. It offers convenient access, parking options, and proximity to local transit and highways. The combination of a standalone building, adaptable layout, and established corridor exposure supports a range of commercial applications.
Key Highlights
- 1,603‑square‑foot freestanding storefront property
- Built in 1927
- Flexible layout for retail, office, or service‑oriented use
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
$15,317
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
8.28%
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%
$306,340
$306.3K
Cap Rate 7%
$218,814
$218.8K
Cap Rate 9%
$170,189
$170.2K
Market Conditions
NOI Build-Up for 1,603 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
$24.0K $15.00/SF
− Vacancy
−$2.2K −$1.35/SF
EGI
$21.9K $13.65/SF
− OpEx
−$6.6K −$4.10/SF
NOI
$15.3K $9.56/SF
Area
Cuyahoga County, OH
Vacancy
9.00%
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%
$306,340
Cap Rate 7%
$218,814
Cap Rate 9%
$170,189
Alternative Uses
Best Use
Retail
$218.8K
$191.5K – $255.3K
NOI $15,317 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.28M
$1.12M – $1.50M
NOI $89,908 @ 7.0% cap · market cap 48.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44117, OH
10,533
Population
5,320
Households
2
Avg Household Size
49
Median Age
20%
College-Educated
91%
High-School Grad
3.8 sq mi
ZIP Area
2,772
Density / Sq Mi
$41,818
Median Household Income
$35,966
Median Earnings
$877
Median Rent
$137,100
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible layout supports retail, office, or service-oriented business use.
Where is this storefront property located?
The property is located at 21950 Euclid Ave Euclid, OH.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,603‑square‑foot freestanding storefront property; Built in 1927; Flexible layout for retail, office, or service‑oriented use
