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

    22019 Emery Rd Warrensville Heights, OH 44128

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

    Two-building asset leased to Georgio’s Pizza and Starr Automotive.

    Type:Retail
    Property size:
    6,350 SF
    Added:
    Jul 13, 2023
    Days on Market:
    1013
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for 22019 Emery Rd

    General Information

    Standard status
    Active
    Size
    6,350 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Kyle Hartung

    Listing agent Kyle Hartung License #OH SAL.2003016343

    Listing office Goodman Real Estate Services Group LLC

    Listing date Jul 13, 2023

    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

    Overview

    Two-Building Asset in Warrensville Heights

    This property features two freestanding buildings in Warrensville Heights, Ohio, leased to Georgio’s Oven Fresh Pizza and Starr Automotive. The asset offers an attractive cap rate of 8.5%. Georgio’s Pizza faces Emery Road, and Starr Automotive has been a tenant since 1995. Georgio’s is responsible for their own daily property maintenance, leaving minimal landscaping and snowplowing as the landlord responsibility for the Starr Automotive parcel. The property is located within blocks of the North Randall Amazon Fulfillment Center (900,000 SF), JACK Thistledown Racino, Cuyahoga Community College, and Heinen’s food manufacturing. The surrounding area includes national retailers such as ALDI, Wendy’s, KFC, Taco Bell, Popeyes, CVS, Burger King, Sherwin-Williams, Planet Fitness, and Save-A-Lot.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Map

    City
    Warrensville Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5396
    Latitude
    41.4368

    Nearby Similar for Sale

    • $1,650,000
      36,404 SF

      Multi-Tenant Building on 3.05 Acres

      36,404 SF multi-tenant building for sale with suites available.
      26650 Renaissance Pkwy, Warrensville Heights, OH
      View Details
    • $2,300,000
      32,890 SF

      Freestanding Industrial Service Building For Sale

      Freestanding industrial building with outside storage and drive-in bays.
      4493 Cranwood Pkwy , Warrensville Heights, OH
      View Details
    • $695,000
      6,350 SF

      Two-Building Asset For Sale

      Two-building asset with restaurant and automotive tenants in Warrensville Heights.
      22019 Emery Rd, Warrensville Heights, OH
      View Details
    • Contact for pricing
      4,547 SF

      Retail Building on Emery Road

      4,547 SF freestanding building on 1.087 acres for sale.
      22801 Emery Rd, Warrensville Heights, OH
      View Details
    • $1,650,000
      36,404 SF

      Renaissance Parkway Land For Sale

      Land available on Renaissance Parkway.
      26650 Renaissance Pkwy, Warrensville Heights, OH 44128
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Two-building asset leased to Georgio’s Pizza and Starr Automotive.
    Where is this conventional restaurant located?
    The property is located at 22019 Emery Rd Warrensville Heights, OH.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: High 8.5% Cap Rate; Two Freestanding Buildings with Existing Tenants; Tenants Include Georgio’s Oven Fresh Pizza and Starr Automotive
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kyle Hartung
    Real Estate License ID: OH SAL.2003016343
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!