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6370 York Road, Cleveland, OH 44130
Multi-tenant retail center with six occupied suites in a Town Center Mixed Use District.
Property Size19,610 SF
Lot Size2.45 Acres
Price / SF$173.38
Days on Market7
Property Features for 6370 York Road
General Information
Standard status
Active
Size
19,610 SF
Lot size
2.45 Acres
Property subtype
Retail
Zoning
Town Center Mixed Use District (TC-MUD)
Occupancy
100%
Lease Type
NNN
Additional Details
Asking Price
$3,400,000
Traffic Count
22,443 vehicles/day
Building Details
Year Built
1987
Year Renovated
2026
Units
6
Tenancy
Multi
Listing Agency:
CBRE - Cleveland
Listed By:
Joseph Khouri · License #OH 2008000837
(216) 658-6120
Source:
Crexi
Added: Aug 27
Changed: Sep 1
Last Checked: Sep 1 at 8:25PM
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
Investment Insights
Based on property information with market context.
York Road Plaza is a multi-tenant shopping center comprising 19,610 square feet on 2.452 acres. Built in 1987, the property contains six suites and is currently 100% occupied. The rent roll has approximately 4.1 years of weighted average remaining lease term, with no lease expirations scheduled before November 2029.
The center is located at 6370 York Road in Cleveland, Ohio, within the Pearl Road commercial corridor. It provides 198.5 feet of York Road frontage, where traffic is reported at 22,443 vehicles per day. The surrounding trade area includes The Shoppes at Parma and Southland Shopping Center, with more than 1.4 million square feet of grocery- and value-anchored retail represented between those two concentrations. Zoning is Town Center Mixed Use District (TC-MUD).
The center is located at 6370 York Road in Cleveland, Ohio, within the Pearl Road commercial corridor. It provides 198.5 feet of York Road frontage, where traffic is reported at 22,443 vehicles per day. The surrounding trade area includes The Shoppes at Parma and Southland Shopping Center, with more than 1.4 million square feet of grocery- and value-anchored retail represented between those two concentrations. Zoning is Town Center Mixed Use District (TC-MUD).
Key Highlights
- 19,610‑square‑foot shopping center on 2.452 acres
- 100% occupied across 6 suites
- Approximately 4.1 years of weighted average remaining lease term
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
$181,855
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
5.35%
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%
$3,637,100
$3.6M
Cap Rate 7%
$2,597,929
$2.6M
Cap Rate 9%
$2,020,611
$2.0M
Market Conditions
NOI Build-Up for 19,610 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
$282.4K $14.40/SF
− Vacancy
−$22.6K −$1.15/SF
EGI
$259.8K $13.25/SF
− OpEx
−$77.9K −$3.97/SF
NOI
$181.9K $9.27/SF
Area
ZIP 44130
Vacancy
8.00%
Lease Rate
$14.40 /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%
$3,637,100
Cap Rate 7%
$2,597,929
Cap Rate 9%
$2,020,611
Alternative Uses
Best Use
Retail
$2.60M
$2.27M – $3.03M
NOI $181,855 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,462 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22,443 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44130, OH
50,825
Population
23,819
Households
2.1
Avg Household Size
45
Median Age
28%
College-Educated
92%
High-School Grad
17.1 sq mi
ZIP Area
2,972
Density / Sq Mi
$68,099
Median Household Income
$43,474
Median Earnings
$1,045
Median Rent
$184,900
Median Home Value
Market
Vacancy Rate% for Retail in Cleveland, OH
Questions? Ask Rey
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Similar Off Market Nearby
- York Road — 6370 York Rd, Cleveland, OH 44130
- Pearl Road Shopping Center — 6286 Pearl Rd, Cleveland, OH 44130
- Yorktown Plaza — 6333 Olde York Rd, Parma Heights, OH 44130
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail center with six occupied suites in a Town Center Mixed Use District.
Where is this shopping center located?
The property is located at 6370 York Road Cleveland, OH.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 19,610‑square‑foot shopping center on 2.452 acres; 100% occupied across 6 suites; Approximately 4.1 years of weighted average remaining lease term
