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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5255 Detroit Rd Sheffield, OH 44054

    • Lifestyle centers
    • 10,500 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / Gift Shop / Boutique
    • Party City / Balloon Store / Candy Store
    • Skunk Funk / Wholesaler / Clothing Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for 5255 Detroit Rd

    Property size
    10,500 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 10,500-square-foot retail property, located at 5255 Detroit Road in Sheffield, Ohio, presents a unique opportunity for a single-tenant occupant. Situated in Lorain County, this building offers complete flexibility for a wide range of retail businesses. The entire 10,500 square feet is currently vacant, providing a blank canvas for a new tenant to customize the space to perfectly meet their operational needs. The property's address is highly visible along Detroit Road, ensuring excellent exposure to a substantial volume of daily traffic. The property type is classified as a shopping center, offering ample space and potential for a successful retail venture. The convenient location in Sheffield, Ohio, zip code 44054, provides easy access for customers and employees alike. This single-tenant occupancy presents a rare opportunity to secure a significant retail presence in a desirable location. The property is ready for immediate occupancy, allowing for a swift and efficient start to operations. Interested parties are encouraged to inquire further to explore the possibilities this exceptional retail space offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sheffield
    County
    Lorain
    State
    Ohio
    Longitude
    -82.0784
    Latitude
    41.4275

    Comparable in this City

    • Value Estimation
      $830,000
      67,170 SF

      4100 Lk Rd

      MINI-MALL • 67,170 SF
      4100 Lk Rd, Sheffield Lake, OH 44054-1114
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    • Value Estimation
      $360,000
      7,305 SF

      5320 Abbe Rd

      SHOPPING CENTER, STRIP CENTER • 7,305 SF
      5320 Abbe Rd, Sheffield Lake, OH 44054
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    • Value Estimation
      $575,000
      30,068 SF

      5231 Detroit Rd

      SHOPPING CENTER, STRIP CENTER • 30,068 SF
      5231 Detroit Rd, Sheffield Village, OH 44054-2902
      View Details
    • Value Estimation
      $260,000
      6,812 SF

      5380 Lk Rd

      SHOPPING CENTER, STRIP CENTER • 6,812 SF
      5380 Lk Rd, Sheffield Lake, OH 44054-1823
      View Details
    • Value Estimation
      $535,000
      24,480 SF

      5202 Cobblestone Rd

      SHOPPING CENTER, STRIP CENTER • 24,480 SF
      5202 Cobblestone Rd, Sheffield Lake, OH 44054
      View Details
    • Value Estimation
      $275,000
      4,080 SF

      4646 Lk Rd

      SHOPPING CENTER, STRIP CENTER • 4,080 SF
      4646 Lk Rd, Sheffield Lake, OH 44054-1303
      View Details

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    Similar Nearby for Lease

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    5255 Detroit Rd
    Sheffield, OH 44054
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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
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