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    7901 Cedar Ave Cleveland, OH 44103

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    For Lease
    Contact for pricing

    Cleveland Retail Space: 2,500 SF Available

    Lot size:
    12,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    Cedar Commons, located at 7901 Cedar Avenue in Cleveland, Ohio, presents a fantastic retail opportunity. This vibrant space offers 2,500 square feet of vacant area within a larger 12,100 square foot plaza. Situated on the northeast corner of East 79th Street and Cedar Avenue, this high-visibility location benefits from significant foot and vehicle traffic. The property enjoys a prominent position at a well-lit intersection, ensuring maximum exposure for your business. The space is part of a multi-tenant building, offering potential for synergy and shared customer base. In addition to the lease opportunity, the entire 12,100 square foot plaza is also available for purchase. This presents a unique chance to acquire a well-established retail property in a thriving Cleveland neighborhood. The space includes prominent monument signage, providing excellent branding opportunities. The property is located in Cuyahoga County, Ohio, with a zip code of 44103. This prime retail location offers exceptional visibility and accessibility, making it an ideal choice for a variety of businesses. Contact us today to learn more about this exciting opportunity.

    Property Features for 7901 Cedar Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,100 SF

    Unit(s) available at that property

    Space
    Space Available
    Size
    2,500 SF

    We can help!

    Listing Contact
    Craig Cohen

    Learn more

    Property Insight Report

    HighLights

    • 2,500 SF of vacant retail space available for lease in a 12,100 SF plaza.
    • High‑visibility corner location at East 79th Street and Cedar Avenue in Cleveland, OH, with significant foot and vehicle traffic.
    • Prominent monument signage available.
    • Entire 12,100 SF plaza also available for purchase.
    • Located in Cuyahoga County, OH, zip code 44103.
    Property Profile Location Intelligence

    Current Use by Public Records

    Western Union Money Transfer Service Cedarwash Laundromat Laundromat

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6331547
    Latitude
    41.5005352

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    FAQs

    What type of property is this?
    Retail property - Cleveland Retail Space: 2,500 SF Available
    Where is this retail property located?
    The property is located at 7901 Cedar Ave Cleveland, OH.
    What are key features of this property?
    This property features: 2,500 SF of vacant retail space available for lease in a 12,100 SF plaza.; High-visibility corner location at East 79th Street and Cedar Avenue in Cleveland, OH, with significant foot and vehicle traffic.; Prominent monument signage available.
    Request Owner's contact information
    7901 Cedar Ave Cleveland, OH 44103
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    Cleveland, OH 44103
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    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
    7901 Cedar Ave Cleveland, OH 44103
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    We can help!
    Listing Contact
    Craig Cohen
    Real Estate License ID: OH BRKP.2007005387
    Learn more
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