Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Outparcel in New Development Title is generated by Realmo AI

    5827 Wooster Pike, Medina, OH 44256

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Ground lease opportunity in a growing retail area.

    Type:Retail, Land
    Added:
    Jul 6, 2021
    Days on Market:
    1796
    Last Refresh:
    May 12 at 8:13 pm

    Property Features for 5827 Wooster Pike

    General Information

    Standard status
    Active
    Property subtype
    Retail, Land

    Spaces For Lease

    at 5827 Wooster Pike Contact us

    We can help!

    Listing Contact
    Zack Sogoloff
    Zack Sogoloff

    Listing agent Zack Sogoloff License #OH SAL.0000436288

    Listing office Goodman Real Estate Services Group LLC

    Listing date Jul 6, 2021

    Source Crexi

    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 Goodman Real Estate Services Group LLC

    HighLights

    • Last remaining outparcel in a new retail development.
    • Excellent street‑front visibility on Wooster Pike (SR 3).
    • Located near Acme Fresh Market, Chipotle, McDonald’s, Discount Drug Mart, Handel’s Ice Cream, Mr. Tire, Taco Bell and Dunkin'.
    • Monument sign available.
    • Convenient access to nearby schools.
    • Significant residential growth with over 500 proposed new single‑family homes.

    Overview

    This is the last remaining outparcel available for ground lease within a new retail development. The site benefits from street-front visibility and monument signage. It is located on Wooster Pike (SR 3), south of the Medina Town Square and retail trade area, offering convenient access to nearby schools. The location is experiencing significant residential growth, with over 500 new single-family homes proposed in Montville Township (Medina). Current neighboring retailers include Acme Fresh Market, Chipotle, McDonald’s, Discount Drug Mart, Handel’s Ice Cream, and Mr. Tire, along with a new The Warehouse Gym, Taco Bell, and Dunkin'.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Medina
    County
    Medina
    State
    Ohio
    Longitude
    -81.86319
    Latitude
    41.11584

    Nearby Similar for Lease

    • $600/Mo
      560 SF

      Professional Office Suite in Medina

      Efficient office space in high-visibility location, ready for move-in.
      3812 Pearl Road, Medina, OH 44256
      View Details
    • $450/Mo
      370 SF

      Professional Office Space Available

      Dedicated office space for lease in Medina, Ohio.
      3812 Pearl Road, Medina, OH 44256
      View Details
    • $7,600/Mo
      6,500 SF

      Medina Commercial Space For Lease

      Highly visible commercial space suitable for retail, office, or showroom.
      998 N Court Street, Medina, OH 44256
      View Details
    • $2,250/Mo
      6,437 SF

      Warehouse Space with Highway Access

      Warehouse space for lease with shared amenities and highway access.
      2425 Medina Road, Medina, OH 44256
      View Details
    • $750/Mo
      1,080 SF

      Medina Township Commercial Flex Space

      New, clean, heated storage or light-industrial unit in Medina, OH.
      3342 Pearl Road, Medina, OH 44256
      View Details
    • $7,000/Mo
      6,437 SF

      Warehouse Space with Highway Access

      Warehouse space for lease with shared amenities and highway access.
      2425 Medina Road, Medina, OH 44256
      View Details
    • $4,750/Mo
      6,437 SF

      Warehouse Space with Highway Access

      Warehouse space for lease with shared amenities and highway access.
      2425 Medina Road, Medina, OH 44256
      View Details
    • $150 SF/Yr

      Office Space Near Public Square

      First floor office space for lease near Medina's Historic Square.
      437 Lafayette Road, Medina, OH 44256
      View Details
    • $1,050/Mo
      34,767 SF

      Downtown Medina Retail Space Available

      Garden level retail space in Medina's Entertainment District.
      320 South Court Street, Medina, OH 44256
      View Details
    • $800/Mo

      Office Space For Lease

      Office space for lease in a great location.
      2425 Medina Road, Medina, OH 44256
      View Details
    • $450/Mo

      Office Space For Lease

      Office space for lease in Medina, OH. Great location!
      2425 Medina Road, Medina, OH 44256
      View Details
    • $450/Mo

      Office Space For Lease

      Office space in a great location with ample parking.
      2425 Medina Road, Medina, OH 44256
      View Details

    FAQs

    What type of property is this?
    Commercial land - Ground lease opportunity in a growing retail area.
    Where is this commercial land located?
    The property is located at 5827 Wooster Pike Medina, OH.
    What are key features of this property?
    This property features: Last remaining outparcel in a new retail development.; Excellent street‑front visibility on Wooster Pike (SR 3).; Located near Acme Fresh Market, Chipotle, McDonald’s, Discount Drug Mart, Handel’s Ice Cream, Mr. Tire, Taco Bell and Dunkin'.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zack Sogoloff
    Zack Sogoloff
    Real Estate License ID: OH SAL.0000436288
    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
    5827 Wooster Pike, Medina, OH 44256
    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!