Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    12395 Cedar Rd Cleveland Heights, OH 44106-3153

    • Retail space
    • 2,655 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Dec 21, 2020
    Value Estimations
    $165,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2090604
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • C L Barber Salon Family Hair / Barber Shop

    Property Details for 12395 Cedar Rd

    Year built
    1920
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.19 lot acres
    Property size
    2,655 SF
    Zone code
    S2
    Property type
    Retail space
    APN
    685-18-022
    APU
    68518022

    Description

    This exceptional 2,900 square foot retail space, located at 12395 Cedar Rd in Cleveland Heights, Ohio, presents a versatile opportunity for restaurant or other retail uses. Situated on a 0.19-acre lot (APN 685-18-022), the property benefits from S2 mixed-use zoning, allowing for a variety of potential applications, including residential, retail, and restaurant uses. Its prime location within Cleveland Heights' thriving Cedar-Fairmount district ensures high visibility and foot traffic. The property enjoys proximity to a significant residential population, with the Ascent at Top of the Hill, a 261-unit luxury apartment complex, located directly adjacent. This strategic positioning provides immediate access to a substantial customer base. Furthermore, the property boasts a strong roster of neighboring businesses, including well-known national and local establishments such as Zhug, Buffalo Wild Wings, Starbucks, Chipotle, Vero Pizza, and Barrio, creating a vibrant and attractive commercial environment. This property offers a unique blend of location, zoning flexibility, and established neighborhood appeal, making it an ideal investment for discerning entrepreneurs. The property's zip code is 44106.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $160,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $233,000
      Market price range: $30.1k - $234k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5949
    Latitude
    41.5013
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,055
    $20,760
    $42,530
    $63,290
    -
    $59,300
    $121,500
    $180,800

    Comparable in this City

    • Value Estimation
      $230,000
      0.15 Acres

      11005 Ashbury Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.15 Acres
      11005 Ashbury Ave, Cleveland, OH 44106-1311
      View Details
    • Value Estimation
      $545,000
      208,116 SF

      11309 Euclid Ave

      RETAIL STORES (PERSONAL SERVICES) • 208,116 SF
      11309 Euclid Ave, Cleveland, OH 44106-3924
      View Details
    • Value Estimation
      $440,000
      210,865 SF

      9751 Chester Ave

      RETAIL STORES (PERSONAL SERVICES) • 210,865 SF
      9751 Chester Ave, Cleveland, OH 44106-1604
      View Details
    • Value Estimation
      $105,000
      15,204 SF

      12451 Cedar Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,204 SF
      12451 Cedar Rd, Cleveland Heights, OH 44106-3243
      View Details
    • Value Estimation
      $605,000
      51,565 SF

      11601 Euclid Ave

      RETAIL STORES (PERSONAL SERVICES) • 51,565 SF
      11601 Euclid Ave, Cleveland, OH 44106-4302
      View Details
    • Value Estimation
      $215,000
      3,000 SF

      12345 Euclid Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      12345 Euclid Ave, Cleveland, OH 44106-4312
      View Details

    Similar Nearby for Sale

    • $1,600,000
      8,750 SF

      Retail Opportunity Near Cleveland Clinic

      Retail property for sale near the Cleveland Clinic main campus.
      8514 Carnegie Ave, Cleveland, OH 44106
      View Details
    • $1,700,000
      5,051 SF

      Turnkey Restaurant with Liquor License

      Second generation restaurant space with partnership opportunity and liquor license.
      2175 Cornell Rd, Cleveland, OH 44106
      View Details
    • $1,600,000
      8,750 SF

      Carnegie Ave Retail Redevelopment Opportunity

      Cleveland Clinic Area, 8,750 SF, High Potential
      8514 Carnegie Ave, Cleveland, OH 44106
      View Details
    • $199,999
      3,439 SF

      Cleveland Multifamily Property for Sale

      Multifamily property in Cleveland, Ohio, totaling 3,439 square feet.
      2179 E 93Rd St, Cleveland, OH 44106
      View Details
    • $409,900
      2,304 SF

      Upgraded Townhome with Skyline View

      Turnkey, three-story townhome built in 2021 near University Circle.
      1497 E 120Th St, Cleveland, OH 44106
      View Details
    • Contact for pricing
      0.20 Acres

      Land Near University Circle

      0.20 acre lot near Wade Park and hospitals.
      1344 E 93Rd St, Cleveland, OH 44106
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,350 SF

      Retail Space in Coventry Village

      Retail space for lease in a walkable Cleveland Heights neighborhood.
      2768-2770 Mayfield Rd, Cleveland Heights, OH 44106
      View Details
    • Contact for pricing
      1,211 SF

      Former Salon Space in Uptown

      Retail space with equipment in vibrant University Circle district.
      11601 Euclid Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      1,320 SF

      Retail Space in University Circle

      Premier retail space in Cleveland's thriving University Circle District.
      11401-11431 Euclid Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      35,755 SF

      University Circle Retail Space Available

      Retail space for lease in University Circle development project.
      10600 Chester Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      533,000 SF

      University Circle Restaurant Space

      Prime Euclid Ave location, 3,982 SF, patio.
      10730 Euclid Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      9,100 SF

      Life Science Hub Near University

      80,000 SF facility for life science and healthcare startups.
      11000 Cedar Ave, Cleveland, OH 44106
      View Details
    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.
    12395 Cedar Rd
    Cleveland Heights, OH 44106-3153
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.