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

    3536 Lee Rd Shaker Heights, OH 44120

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    9,300 SF Retail Space in Shaker Heights

    Property size:
    9,300 SF

    Property Features for 3536 Lee Rd

    General Information

    Property type
    Retail space
    Square Feet
    9,300 SF

    We can help!

    Listing Contact
    Craig Cohen

    Listing Agency: Cohen Commercial Group Listing Agent: Craig Cohen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 9,300-square-foot retail property, located at 3536 Lee Road in Shaker Heights, Ohio, presents a unique investment opportunity. Situated conveniently on Lee Road, just south of Chagrin, this versatile space is ideally suited for an auto shop or storefront business. The building boasts multiple garage bays, providing ample space for vehicle repair, maintenance, or storage, making it particularly attractive to automotive-related businesses. The property's 9,300 square feet of net rentable area offers significant flexibility for various retail configurations. Its prime location in Shaker Heights, within Cuyahoga County and zip code 44120, ensures high visibility and accessibility for customers. The property's geographic coordinates are 41.4633533 latitude and -81.5654693 longitude. This well-positioned commercial space offers a blend of functionality and prime location, making it an excellent choice for entrepreneurs seeking a thriving business environment. The property is classified as retail, with subtypes of auto shop and storefront, offering a diverse range of potential uses. This is a rare opportunity to acquire a substantial retail space in a desirable Shaker Heights location. The building's multiple garage bays are a key feature, adding significant value for businesses requiring such facilities. Serious inquiries are encouraged to explore the potential of this remarkable property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Shaker Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5654693
    Latitude
    41.4633533

    Nearby Similar for Sale

    • New
      $305,000
      2,542 SF

      Updated Duplex in Shaker Heights

      Turnkey duplex with updates in the historic Winslow district.
      18520 Winslow Rd, Shaker Heights, OH 44122
      View Details
    • $389,000
      0.16 Acres

      Shaker Heights Duplex Near Van Aken

      Classic Shaker Heights duplex with income potential near Van Aken.
      3475 Norwood Rd, Shaker Heights, OH 44122
      View Details
    • $329,000
      Pending

      Shaker Heights Multifamily Investment Property

      Fully occupied Shaker Heights duplex with recent upgrades and reliable tenants.
      3613 Lynnfield Rd, Shaker Heights, OH 44122
      View Details
    • New
      $239,900
      3,870 SF

      Shaker Heights Three-Story Duplex

      Classic Shaker Heights duplex with six bedrooms and sunporches.
      18416 Winslow Rd, Shaker Heights, OH 44122
      View Details
    • $219,900
      Pending

      Shaker Heights Colonial Duplex

      Well-maintained duplex in Shaker Heights with strong cash flow.
      3318 Milverton Rd, Shaker Heights, OH 44120
      View Details
    • $239,900
      3,870 SF

      Shaker Heights Multifamily Opportunity

      Three-story duplex with six bedrooms and sunporches in Shaker Heights.
      18416 Winslow Rd, Shaker Heights, OH 44122
      View Details
    • $174,999
      Pending

      Shaker Heights Duplex Investment Opportunity

      Duplex in Shaker Heights needing renovation, strong earning potential.
      3575 Gridley Rd, Shaker Heights, OH 44122
      View Details
    • $130,000
      0.10 Acres

      Shaker Heights Multifamily Investment Opportunity

      Turnkey duplex in Shaker Heights with tenants in place.
      3659 Chelton Rd, Shaker Heights, OH 44120
      View Details
    • $625,000
      4,640 SF

      Shaker Heights Corner Retail/Office

      Prime corner location with flexible zoning and recent renovations.
      15808 Chagrin Blvd, Shaker Heights, OH 44120
      View Details
    • $194,999
      0.11 Acres

      Shaker Heights Duplex For Sale

      Shaker Heights duplex generating almost $3,000 monthly. Investment opportunity.
      3705 Sudbury Rd, Shaker Heights, OH 44120
      View Details
    • $1,575,000

      Historic Shaker Square Apartment Building

      28-unit apartment building in Shaker Square with updates.
      3016 S Moreland Blvd, Shaker Heights, OH 44120
      View Details

    FAQs

    What type of property is this?
    Retail space - 9,300 SF Retail Space in Shaker Heights
    Where is this retail space located?
    The property is located at 3536 Lee Rd Shaker Heights, OH.
    What are key features of this property?
    This property features: 9,300 square foot retail building in Shaker Heights, Ohio.; Located on Lee Road, south of Chagrin Boulevard.; Features multiple garage bays, suitable for an auto shop or storefront use.
    (216) 223-5060 Call to check price and availability
    Request Owner's contact information
    3536 Lee Rd Shaker Heights, OH 44120
    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.
    3536 Lee Rd
    Shaker Heights, OH 44120
    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
    3536 Lee Rd Shaker Heights, OH 44120
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Craig Cohen
    Real Estate License ID: BRKP.2007005387
    (216) 223-5060
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!