Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7729-7783 W Ridgewood Dr Parma, OH

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail opportunities available in a redeveloped power center.

    Type:RETAIL
    Property size:
    1,256 SF
    Lot size:
    64.36 Acres
    Added:
    Mar 27, 2025
    Days on Market:
    404
    Last Refresh:
    Apr 5 at 9:52 pm

    Property Features for 7729-7783 W Ridgewood Dr

    General Information

    Standard status
    Active
    Size
    1,256 SF
    Lot size
    64.36 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 7729-7783 W Ridgewood Dr Contact us

    We can help!

    Listing Contact
    Joseph Khouri
    Joseph Khouri

    Listing agent Joseph Khouri License #SAL.2015001299

    Listing office CBRE | Cleveland

    Listing date Mar 27, 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 CBRE | Cleveland

    Overview

    Retail Space in Parma Center

    Located within The Shoppes at Parma, a 756,000 square foot power center, are several retail opportunities. Anchored by Walmart, Dick's Sporting Goods, Burlington, Marc's, Fitworks, Old Navy, and Ulta, the center has recently undergone a $100 million redevelopment, transforming the former Parmatown mall into a mixed-use power center. Available spaces include a 160,000 square foot, two-story former JCPenney space suitable for non-retail uses with a potential 30-foot clear height, a 13,450 square foot junior anchor retail space, a 7,791 square foot inline retail space, a 4,000 square foot inline retail space, a 2,449 square foot former restaurant, and a 761 square foot inline retail space. Additionally, there is a newly created approximately one-acre signalized pad on Ridgewood Drive and potential for large land development sites or pads on Day Drive. Parma is a super-regional trade area with a dense population of 244,244 people within a 5-mile radius.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Map

    City
    Parma
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7295
    Latitude
    41.3886

    Nearby Similar for Lease

    • $700/Mo

      Parma Armory Office Space Available

      Flexible office space in thriving Parma Armory, call today!
      5301 Hauserman Road, Parma, OH 44130
      View Details
    • $1,800/Mo

      Parma Commercial Space For Rent

      1,800 SF rear unit in prime location.
      1140 W Pleasant Valley Road, Parma, OH 44134
      View Details
    • $1,200/Mo

      Flexible Office Space in Parma

      Adaptable commercial space suitable for various business and educational purposes.
      5301 Hauserman Road, Parma, OH 44130
      View Details
    • $500/Mo

      Flexible Office Space in Parma

      Private office space suitable for flex, education, or small business.
      5301 Hauserman Road, Parma, OH 44130
      View Details
    • $2,000/Mo

      Prime Parma Commercial Building Available

      4,226 SF commercial building for lease in Parma, OH.
      5370 Ridge Road, Parma, OH 44129
      View Details
    • $30 SF/Yr

      Versatile Commercial Space in Parma

      Customizable spaces available for lease in a high-traffic Parma location.
      6731 Ridge, Parma, OH 44129
      View Details
    • $299 SF/Yr

      Parma Office Suites Available

      Private salon/beauty suites for rent in a high-traffic Parma location.
      6731 Ridge, Parma, OH 44129
      View Details
    • $499/Mo

      Office Space in Parma, OH

      Office building with modern decor and high traffic location.
      6731 Ridge, Parma, OH 44129
      View Details
    • $299 SF/Yr

      Micro Units in High-Traffic Location

      Multiple build-to-suit micro units available for rent in Parma, OH.
      6731 Ridge (Micro Units), Parma, OH 44129
      View Details
    • $4,999/Mo

      Parma Office Space For Rent

      Multiple build-to-suit office units available in Parma, Ohio.
      6731 Ridge (7,000 sq ft), Parma, OH 44129
      View Details
    • $2,850/Mo

      Functional Office Space For Rent

      3,000 SF office space with highway access and parking.
      1511 Brookpark Rd, Parma, OH
      View Details
    • Contact for pricing

      Former Restaurant Space Available

      3,326 SF former restaurant for lease or ground lease.
      2200 Snow Road, Parma, OH, 44134
      View Details

    FAQs

    What type of property is this?
    Shopping mall - Retail opportunities available in a redeveloped power center.
    Where is this shopping mall located?
    The property is located at 7729-7783 W Ridgewood Dr Parma, OH.
    What are key features of this property?
    This property features: 756,000 SF power center anchored by major retailers; Located in a super‑regional trade area with a dense population; Recently underwent a $100 million redevelopment
    (216) 658-6120 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joseph Khouri
    Joseph Khouri
    Real Estate License ID: SAL.2015001299
    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
    7729-7783 W Ridgewood Dr, Parma, 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!