Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6420 Mayfield Rd Mayfield Heights, OH 44124
    Property profile & analytics

    6420 Mayfield Rd, Mayfield Heights, OH 44124

    View on Map
    • Retail properties & Spaces
    • 373,190 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 6420 Mayfield Rd

    Property type
    Retail properties & Spaces

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mayfield Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4489
    Latitude
    41.5191

    Comparable in this City

    • Value Estimation by Request

      1253 Som Center Rd

      Retail properties & Spaces
      1253 Som Center Rd, Mayfield Heights, OH 44124
      View Details
    • Value Estimation by Request
      10,880 SF

      5402 Mayfield Rd

      Retail properties & Spaces
      5402 Mayfield Rd, Lyndhurst, OH 44124
      View Details
    • Value Estimation by Request
      0.34 Acres

      6420 Mayfield Rd

      Land
      6420 Mayfield Rd, Mayfield Heights, OH 44124
      View Details
    • Value Estimation by Request
      137,133 SF

      6594 Mayfield Rd

      Individual retail properties
      6594 Mayfield Rd, Mayfield Heights, OH 44124
      View Details
    • Value Estimation by Request

      5900-5886 Mayfield Rd

      Land
      5900-5886 Mayfield Rd, Mayfield Heights, OH 44124
      View Details
    • Value Estimation by Request
      93,723 SF

      30950 Pinetree Rd

      Neighborhood centers
      30950 Pinetree Rd, Cleveland, OH 44124
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Commercial Land Opportunity

      Undeveloped land parcel in dense east side suburb.
      5940 Mayfield Rd, Mayfield Heights, OH 44124
      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 44124
      View Details
    • $3,854,015

      Freestanding Retail Property For Sale

      Freestanding retail property with drive-thru pharmacy and high visibility.
      1233 Som Center Rd, Cleveland, OH 44124
      View Details
    • $85,000
      0.27 Acres

      Spacious Vacant Lot in Lyndhurst

      Buildable 0.27-acre lot in desirable Lyndhurst neighborhood.
      5108 Abigail Dr, Lyndhurst, OH 44124
      View Details
    • $264,900
      Pending

      Lyndhurst Duplex: Income Potential

      Turnkey duplex in Lyndhurst, near amenities and commuter routes.
      1715 Edgefield Rd, Lyndhurst, OH 44124
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,170 SF

      Lyndhurst Restaurant - Prime Location

      Established Restaurant, 8,170 SF, 2 Acres
      5835 Landerbrook Dr, Lyndhurst, OH 44124
      View Details
    • Contact for pricing
      6,979 SF

      Retail Space in Eastgate Center

      Super-regional shopping center with strong anchors and high visibility.
      1345-1479 Som Center Rd, Mayfield Heights, OH 44124
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Mayfield Heights, Ohio.
      6420 Mayfield Rd, Mayfield Heights, OH 44124
      View Details
    • Contact for pricing
      2,100 SF

      Retail Building with Ample Parking

      4,200 SF retail building with 30 parking spaces.
      5456 Mayfield Rd, Lyndhurst, OH 44124
      View Details
    • Contact for pricing
      2,935 SF

      Former Restaurant Space For Lease

      2,935 SF former restaurant space available for lease.
      5096 Mayfield Rd, Lyndhurst, OH 44124
      View Details
    • Contact for pricing
      3,430 SF

      Retail Space on Mayfield Road

      Retail space available in high-traffic Lyndhurst location.
      5141 Mayfield Rd, Lyndhurst, OH 44124
      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.
    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
    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
    6420 Mayfield Rd, Mayfield Heights, OH, 44124
    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!