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    4836 Northfield Rd North Randall, OH

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    Retail space available near Amazon fulfillment center with 2,000 employees.

    Type:RETAIL
    Property size:
    1,700 SF
    Lot size:
    1.13 Acres
    Added:
    Dec 10, 2024
    Days on Market:
    507
    Last Refresh:
    Apr 5 at 9:46 pm

    Property Features for 4836 Northfield Rd

    General Information

    Standard status
    Active
    Size
    1,700 SF
    Lot size
    1.13 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 4836 Northfield Rd Contact us

    We can help!

    Listing Contact
    Catherine Lueckel

    Listing agent Catherine Lueckel

    Listing office Matthews Real Estate Investment Services | Cleveland

    Listing date Dec 10, 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 Matthews Real Estate Investment Services | Cleveland

    Overview

    Retail Space Near Amazon Center

    This property features a ±1,700 SF former barbershop space. It is located in front of the ±855,000 SF Amazon fulfillment center, which brings approximately 2,000 employees to the area. The property offers convenient access to I-480 and I-271, situated near the corner of Northfield Rd and N Miles Rd. It is located within a densely populated Cleveland submarket, offering a potentially advantageous location.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    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.

    Location Insight

    • Map
    • Local Demand
    City
    North Randall
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5257
    Latitude
    41.4348

    Nearby Similar for Lease

    • $6,500/Mo

      High-Visibility Showroom in North Randall

      Showroom-style retail building with flexible storage and signage opportunity.
      4633 Northfield Road, North Randall, OH 44128
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    • $7,000/Mo

      North Randall Commercial Space Available

      High-visibility commercial space with auto repair and body shop features.
      4635 Northfield Road, North Randall, OH 44128
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    • $4,500/Mo

      North Randall Auto Repair Facility

      Established auto repair facility with 7 bays and ample parking.
      4635 Northfield Road, North Randall, OH 44128
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      Retail Plaza on Northfield Road

      Retail space available in North Randall with pylon signage.
      4880 Northfield Rd, North Randall, OH
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      Retail Spaces Near Amazon Center

      Retail spaces for lease near Amazon Fulfillment Center.
      4840-4860 Northfield Rd, North Randall, OH
      View Details
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      Modern Distribution Center Near Amazon

      94,500 SF distribution center adjacent to Amazon fulfillment center.
      20801 Miles Road, North Randall, OH
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      Industrial Warehouse Space Available

      Industrial warehouse space featuring ESFR sprinklers and cross-dock configuration.
      20801 Miles, North Randall, OH
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      Warehouse Space Near Amazon Center

      Warehouse/storage space available near Amazon Fulfillment Center.
      4601 Northfield Road, North Randall, OH
      View Details
    • Contact for pricing

      Retail Space on Warrensville Road

      1,600 sq ft retail space available for lease.
      4614-4654 Warrensville Center Rd, North Randall, OH
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available near Amazon fulfillment center with 2,000 employees.
    Where is this retail space located?
    The property is located at 4836 Northfield Rd North Randall, OH.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: Located in front of Amazon fulfillment center with 2,000 employees.; ±1,700 SF former barbershop space available.; Easy access to I‑480 & I‑271.
    (330) 703-1996 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Catherine Lueckel
    Learn More
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    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
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