Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Broadview Road Commercial Land Available Title is generated by Realmo AI

    6338 Broadview Rd, Parma, OH 44134

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial land available on Broadview Road in Parma, Ohio.

    Type:Hospitality, Land, Mixed Use, Multifamily, Retail
    Added:
    May 25, 2023
    Days on Market:
    1103
    Last Refresh:
    May 12 at 9:57 pm

    Property Features for 6338 Broadview Rd

    General Information

    Standard status
    Active
    Property subtype
    Hospitality, Land, Mixed Use, Multifamily, Retail

    We can help!

    Listing Contact
    Kevin Moss

    Listing agent Kevin Moss License #SAL.2015001299

    Listing office CBRE - Cleveland

    Listing date May 25, 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 CBRE - Cleveland

    HighLights

    • Commercial land available
    • Located on Broadview Road
    • Located in Parma, Ohio

    Overview

    The property is a commercial land parcel located on Broadview Road in Parma, Ohio. It is suitable for commercial real estate, hospitality, mixed-use, and retail purposes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Parma
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7045
    Latitude
    41.3848

    Nearby Similar for Sale

    • $439,000
      10,800 SF

      Two-Story Commercial Investment Property

      Two-story commercial property with high visibility and income potential.
      2221 Brookpark Road, Parma, OH 44134
      View Details
    • $560,000
      4,386 SF

      Parma Multifamily Investment Opportunity

      Six-unit building in Parma, near Cleveland, with income growth potential.
      6118 Ridge Road, Parma, OH 44129
      View Details
    • $209,900
      1,814 SF

      Updated Duplex with Income Potential

      Low-maintenance duplex with updated features and strong income potential.
      5406 Theota Avenue, Parma, OH 44129
      View Details
    • $374,000

      Renovated Commercial Building with Parking

      Turnkey commercial building in Parma with modern updates and parking.
      5393 Pearl Road, Parma, OH 44109
      View Details
    • $257,500
      1,976 SF

      Parma Duplex with Dual Porches

      Inviting duplex in Parma, perfect for owner-occupant or investor.
      4906 Albertly Avenue, Parma, OH 44134
      View Details
    • $295,000
      2,324 SF

      Spacious Tudor Duplex in Parma

      Well-maintained duplex with upside potential in a sought-after rental market.
      6511 Laverne Avenue, Parma, OH 44129
      View Details
    • $650,000

      Retail Property in Parma, Ohio

      Retail property available for sale in Parma, Ohio.
      5421 Pearl Road, Parma, OH 44129
      View Details
    • $350,000
      2,240 SF

      Parma Duplex: Investment Opportunity

      Newer duplex with renovated units and strong investment potential.
      4910 & 4912 Yorkshire Avenue, Parma, OH 44134
      View Details
    • $265,000
      2,024 SF

      Parma Brick Duplex with Updates

      Well-maintained duplex with updated features and long-term tenants.
      6115 Brownfield Drive, Parma, OH 44129
      View Details
    • $335,000
      2,324 SF

      Remodeled Parma Duplex with Garage

      Updated duplex in Parma with a newer 3-car garage.
      3806 Liggett Drive, Parma, OH 44134
      View Details
    • $240,000
      2,232 SF

      Well-Maintained Parma Duplex For Sale

      Spacious duplex with recent updates, ideal for owner-occupancy.
      5240 State Road, Parma, OH 44134
      View Details
    • $175,000
      1,378 SF

      Parma Multifamily Property with Suite

      Multifamily property featuring a main house and detached suite.
      7411 Wooster, Parma, OH 44129
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available on Broadview Road in Parma, Ohio.
    Where is this commercial land located?
    The property is located at 6338 Broadview Rd Parma, OH.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Commercial land available; Located on Broadview Road; Located in Parma, Ohio
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kevin Moss
    Real Estate License ID: SAL.2015001299
    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

    Thank You for Inquiry
    6338 Broadview Rd, Parma, OH 44134
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!