Strip Retail
For Sale
$1,800,000
6479 Brecksville Road, Independence, OH 44131
The property has central air and natural-gas forced-air heating.
Property Size15,470 SF
Days on Market14
Property Features for 6479 Brecksville Road
General Information
Standard status
Active
Size
15,470 SF
Total Parking Spaces
32
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$17,704
Amenities
PrivateRestrooms
Central Air
Natural Gas, Forced Air
Asphalt
Building Details
Building Size
15,470 SF
Year Built
1953
Stories
1
Listing Agency:
Allen & Hartzell, Inc,
Listed By:
Lynda M Bowers · License #326051
(330) 635-0837
Source:
Evrealestate
Added: Sep 14
Changed: Sep 26
Last Checked: Sep 26 at 2:49PM
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 Allen & Hartzell, Inc,
Investment Insights
Based on property information with market context.
This strip retail property at 6479 Brecksville Road in Independence, Ohio, was built in 1953. The property is zoned Commercial and has central air conditioning, natural-gas forced-air heating, and an asphalt exterior.
The listed route approaches from I-71 at Exit 155 via Rockside Road and Brecksville Road.
The listed route approaches from I-71 at Exit 155 via Rockside Road and Brecksville Road.
Key Highlights
- Commercial zoning
- Built in 1953
- Central air conditioning and natural‑gas forced‑air heating
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
$147,816
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
8.21%
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%
$2,956,320
$3.0M
Cap Rate 7%
$2,111,657
$2.1M
Cap Rate 9%
$1,642,400
$1.6M
Market Conditions
NOI Build-Up for 15,470 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
$232.1K $15.00/SF
− Vacancy
−$20.9K −$1.35/SF
EGI
$211.2K $13.65/SF
− OpEx
−$63.3K −$4.10/SF
NOI
$147.8K $9.56/SF
Area
Cuyahoga County, OH
Vacancy
9.00%
Lease Rate
$15.00 /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%
$2,956,320
Cap Rate 7%
$2,111,657
Cap Rate 9%
$1,642,400
Alternative Uses
Best Use
Retail
$2.11M
$1.85M – $2.46M
NOI $147,816 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.40M
$10.85M – $14.46M
NOI $867,667 @ 7.0% cap · market cap 48.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 44131, OH
20,664
Population
8,861
Households
2.3
Avg Household Size
49
Median Age
40%
College-Educated
97%
High-School Grad
15.7 sq mi
ZIP Area
1,316
Density / Sq Mi
$98,838
Median Household Income
$59,474
Median Earnings
$1,512
Median Rent
$252,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - The property has central air and natural-gas forced-air heating.
Where is this strip mall located?
The property is located at 6479 Brecksville Road Independence, OH.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Commercial zoning; Built in 1953; Central air conditioning and natural‑gas forced‑air heating
