Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3 Westchester Ave Valley View, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Three fully improved land sites near I-77 and I-480.

    Type:LAND
    Lot size:
    3.90 Acres
    Added:
    Nov 27, 2024
    Days on Market:
    519
    Last Refresh:
    Apr 5 at 11:13 pm

    Property Features for 3 Westchester Ave

    General Information

    Standard status
    Active
    Lot size
    3.90 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    George Stevens, SIOR, CCIM

    Listing agent George Stevens, SIOR, CCIM

    Listing office CBRE | Cleveland

    Listing date Nov 27, 2024

    Source Moodyscre

    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 CBRE | Cleveland

    Overview

    Valley View Land for Sale

    Three land sites, ranging from 2.3 to 7.1 acres, are available. The sites are fully improved and offer excellent freeway access to I-77 at Rockside Road or Brecksville Road (Route 21), as well as access to I-480 at E. 98th St. (Transportation Blvd). The location provides convenient access to Hopkins Airport and all Cuyahoga County suburbs. Downtown Cleveland is 10 minutes away. The property is in close proximity to Metroparks and the Towpath Trail. The central location allows access to a skilled, quality labor force.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Valley View
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6046
    Latitude
    41.3878

    Nearby Similar for Sale

    • $60,000

      Serene Wooded Views Land

      1.4 acre lot with frontage in Valley View, OH.
      6579 Hathaway Road, Valley View, OH 44125
      View Details
    • $89,500

      LAND - Valley View, OH

      6589 Hathaway Road, Valley View, OH 44125
      View Details
    • $10,899,490
      155,707 SF

      Valley View Flex Industrial Asset

      Well-maintained, multi-tenant flex industrial asset in a prime location.
      10055 Sweet Valley Dr, Valley View, OH
      View Details
    • $700,000
      2 SF

      Industrial Land Near Cleveland

      2.77 acres with utilities, easy access to Cleveland.
      5686 Heinton Road, Valley View, OH 44125
      View Details
    • $1,925,000

      Improved Land Parcel For Sale

      High-profile land with central location and economic incentives.
      5520 Cloverleaf Pkwy, Valley View, OH
      View Details
    • $3,705,000
      131,000 SF

      Valley View Industrial Site Opportunity

      11.4 acre industrial site in Valley View, Ohio.
      100 W Canal Rd, Valley View, OH
      View Details
    • $700,000

      Valley View Commercial Land Available

      Commercial land with easy highway access near Cleveland.
      5686 Heinton Rd, Valley View, OH
      View Details
    • $3,705,000
      131,000 SF

      Rare Industrial Site Opportunity

      11.4 acre industrial site in Valley View, Ohio.
      W Canal Rd, Valley View, OH 44125
      View Details
    • $700,000

      Industrial Land in Cleveland Market

      2.77 acres of industrial land with utilities available.
      5686 Heinton Rd, Valley View, OH 44125
      View Details

    FAQs

    What type of property is this?
    Land - Three fully improved land sites near I-77 and I-480.
    Where is this land located?
    The property is located at 3 Westchester Ave Valley View, OH.
    What is the asking price?
    The asking price for this property is $1,162,200.
    What are key features of this property?
    This property features: Fully improved sites ranging from 2.3 to 7.1 acres; Excellent freeway access to I‑77 and I‑480; Prime location: just 10 minutes from Downtown Cleveland
    (216) 687-1800 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    George Stevens, SIOR, CCIM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!