Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Severance Town Center Retail Space Title is generated by Realmo AI

    3452-3640 Mayfield Rd, Cleveland Heights, OH

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    125,000 SF retail space in Severance Town Center.

    Type:RETAIL
    Property size:
    55,000 SF
    Lot size:
    46.90 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    188
    Last Refresh:
    May 20 at 8:17 pm

    Property Features for 3452-3640 Mayfield Rd

    General Information

    Standard status
    Active
    Size
    55,000 SF
    Lot size
    46.90 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 3452-3640 Mayfield Rd Contact us

    We can help!

    Listing Contact
    Igal Nassim

    Listing agent Igal Nassim

    Listing office Mason Asset Management - Corporate

    Listing date Nov 24, 2025

    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 Mason Asset Management - Corporate

    HighLights

    • 125,000 SF big box space available
    • Located in Severance Town Center
    • High‑traffic location near Mayfield and South Taylor Road intersection (18,306 & 10,483 VPD)
    • Ample parking
    • Excellent roadside signage
    • Co‑tenants include Home Depot, Dave’s Supermarket, and Office Max

    Overview

    Located in a highly populated suburb of Cleveland, this 125,000 square foot big box space is situated in Severance Town Center. The center is easily accessible and offers ample parking. The location benefits from excellent roadside signage and proximity to the signalized intersection of Mayfield Road, which sees 18,306 vehicles per day, and South Taylor Road, with 10,483 vehicles per day. Other tenants in the center include Home Depot, Dave’s Supermarket, and Office Max.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Quick-Tag — Walmart, 1868 Warrensville Center Rd, South Euclid, OH 44121
    • tj max — South Euclid, OH 44118
    • Taylor Commons — S Taylor Rd, Cleveland Heights, OH 44118
    • Oakwood Commons — 1516 Warrensville Center Rd, South Euclid, OH 44118
    • Severance Town Center — 3640 Mayfield Rd, Cleveland Heights, OH 44118

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5502
    Latitude
    41.5152

    Nearby Similar for Lease

    • $32 SF/Yr
      8,534 SF

      Retail Space in Mixed-Use Development

      Pre-leasing retail space in Cleveland Heights, delivery Spring 2025.
      2223 Lee Rd, Cleveland Heights, OH
      View Details
    • $21 SF/Yr
      1,571 SF

      Cleveland Heights Office Space Available

      Meticulously maintained office space in the Cedar Fairmount District.
      12426 Cedar Rd, Cleveland Heights, OH
      View Details
    • $1,950/Mo
      1,868 SF

      Spacious Cleveland Heights Two-Family Home

      Well-maintained 4-bedroom unit near Mayfield Rd and I-271.
      1635 Hillcrest Road #Up, Cleveland Heights, OH 44118
      View Details
    • $1,922/Mo
      1,702 SF

      Professional Office Space Available

      Pristine office building with suites available for rent.
      2940 Noble Road 102, Cleveland Heights, OH 44121
      View Details
    • $15 SF/Yr
      13,372 SF

      Renovated Office Building For Sale

      Two-story office building with attached parking lot and recent renovations.
      2060 South Taylor Rd, Cleveland Heights , OH
      View Details
    • Contact for pricing
      1,900 SF

      Coventry Retail District Plaza Space

      Retail space available in the Coventry Retail District.
      1771-1791 Coventry Rd, Cleveland Heights , OH
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Cleveland Heights

      Retail space available in a busy Cleveland Heights neighborhood.
      1800-1836 Coventry Rd, Cleveland Heights, OH
      View Details
    • Contact for pricing

      Coventry Retail Space For Rent

      Retail space available for rent in Cleveland Heights, Ohio.
      1844 Coventry Road, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing
      3,350 SF

      Retail Space in Coventry Village

      Retail space for lease in a walkable Cleveland Heights neighborhood.
      2768-2770 Mayfield Rd, Cleveland Heights, OH
      View Details
    • Contact for pricing

      Coventry Road Retail Space Available

      Retail space for rent on Coventry Road, Cleveland Heights.
      1771 Coventry Rd, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing
      125,000 SF

      Retail Outlot in Cleveland Heights

      Outlot for lease or sale in busy shopping center.
      3606 Mayfield Rd, Cleveland Heights, OH
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Mixed-Use Project

      Premier retail space in Cleveland Heights' mixed-use development.
      12301 Cedar Rd, Cleveland Heights, OH
      View Details

    FAQs

    What type of property is this?
    Shopping center - 125,000 SF retail space in Severance Town Center.
    Where is this shopping center located?
    The property is located at 3452-3640 Mayfield Rd Cleveland Heights, OH.
    What are key features of this property?
    This property features: 125,000 SF big box space available; Located in Severance Town Center; High‑traffic location near Mayfield and South Taylor Road intersection (18,306 & 10,483 VPD)
    (516) 371-5858 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Igal Nassim
    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

    Thank You for Inquiry
    3452-3640 Mayfield Rd , Cleveland Heights, OH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!