Add Listing
    For Lease
    • 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

    6420 Mayfield Rd Mayfield Heights, OH 44124

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Retail Space, Mayfield Heights, Ohio

    Lot size:
    373,190 SF

    Property Features for 6420 Mayfield Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    373,190 SF

    Building Details

    Buildings
    1

    Spaces For Lease

    at 6420 Mayfield Rd, Mayfield Heights, OH 44124 Contact us

    We can help!

    Listing Contact
    Vincenzo Calabrese
    Vincenzo Calabrese

    Listing Agency: Hanna Commercial Real Estate Cleveland Listing Agent: Vincenzo Calabrese

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

    Learn more

    Overview

    This exceptional retail opportunity presents itself at the Golden Gate Shopping Center, located at 6420 Mayfield Rd in Mayfield Heights, Ohio, within Cuyahoga County (zip code 44124). The property boasts a single, substantial building encompassing 373,190 square feet of retail space. Currently, there are multiple spaces available for lease, offering flexibility for various business needs. The minimum leasable space is 1,315 square feet, while the maximum contiguous space available is 10,000 square feet. A total of 26,264 square feet is currently vacant, providing significant potential for expansion or new tenancy. This prime location in Mayfield Heights offers excellent visibility and accessibility, making it an ideal spot for businesses seeking high foot traffic and a strong customer base. The property's size and layout provide ample opportunity for a variety of retail concepts, from smaller boutiques to larger flagship stores. Interested parties are encouraged to inquire about available spaces and lease terms. This is a rare chance to secure a prominent position within a well-established shopping center in a thriving Ohio community. The property is classified as retail with multiple tenancies.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mayfield Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4488669
    Latitude
    41.5191417

    Nearby Similar for Lease

    • $22 SF/Yr
      1,268 SF

      High-Image East-Side Office Space

      Premier office building near I-271 with underground parking.
      5800 Landerbrook Dr, Mayfield Heights, OH
      View Details
    • $500 /Mo
      100 SF

      Class A Office Space Available

      Professional office space in owner-occupied building, convenient location.
      6105 Parkland Blvd, Mayfield Heights, OH
      View Details
    • $19 SF/Yr
      3,905 SF

      High-End Office Space Available

      First-generation office space with high-end finishes and professional layouts.
      6140 Parkland Blvd, Mayfield Heights, OH
      View Details
    • Contact for pricing
      21,137 SF

      Office Space at Landerbrook Drive

      Office space available for rent at Landerbrook, Mayfield Heights.
      5800 Landerbrook Dr, Mayfield Heights, OH 44124
      View Details
    • $22 SF/Yr
      113,000 SF

      Mayfield Heights Office Space Available

      Up to 113,000 SF office space for lease.
      5920 Landerbrook Dr, Mayfield Heights, OH
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space on Mayfield Road

      Retail space available in a busy Mayfield Heights plaza.
      6641-6645 Mayfield Rd, Mayfield Heights, OH
      View Details
    • Contact for pricing
      1,350 SF

      Retail Space Near I-271

      Retail space available near Giant Eagle and Auto Zone.
      6280-6294 Mayfield Rd, Mayfield Heights, OH
      View Details
    • Contact for pricing
      5,000 SF

      Retail Building at Lit Intersection

      Retail building with ample parking near I-271.
      6020 Mayfield Rd, Mayfield Heights, OH
      View Details
    • Contact for pricing
      4,962 SF

      Office Space with Modern Finishes

      Office space featuring a popular layout and building amenities.
      5915 Landerbrook Dr, Mayfield Heights, OH
      View Details
    • Contact for pricing
      9,000 SF

      Anchored Shopping Center Retail Space

      Community shopping center with retail and automotive opportunities available.
      1641 Golden Gate Plz, Mayfield Heights, OH 44124
      View Details
    • Contact for pricing
      2,174 SF

      Retail Endcap Near Freeway Access

      2,174 SF retail space near major shopping centers.
      1330-1340 Som Ctr Rd, Mayfield Heights, OH
      View Details
    • Contact for pricing
      5,500 SF

      Mayfield Road Retail Opportunity

      5,500 SF retail space with drive-thru potential.
      5945 Mayfield Rd, Mayfield Heights, OH
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime Retail Space, Mayfield Heights, Ohio
    Where is this retail property located?
    The property is located at 6420 Mayfield Rd Mayfield Heights, OH.
    What are key features of this property?
    This property features: Dominant community shopping center in Cleveland's eastern suburbs.; Anchored by Fresh Thyme, Marshalls, PetSmart, Joann Fabrics, and Bob's Discount Furniture.; High visibility from I-271 (125,554 VPD) and Mayfield Road (37,489 VPD).
    (216) 861-5286 Call to check price and availability
    Request Owner's contact information
    6420 Mayfield Rd Mayfield Heights, OH 44124
    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.
    6420 Mayfield Rd
    Mayfield Heights, OH 44124
    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
    6420 Mayfield Rd Mayfield Heights, OH 44124
    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 Vincenzo Calabrese
    Vincenzo Calabrese
    Real Estate License ID: 2020004495
    (216) 861-5286 (216) 861-7200
    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!