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    1838 Warrensville Center Rd South Euclid, OH 44118

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    1838 Warrensville Center Rd South Euclid, OH 44118

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    • Lifestyle centers
    • 317,266 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1838 Warrensville Center Rd

    Property size
    317,266 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Oakwood Commons, located at 1838 Warrensville Center Rd, South Euclid, OH 44118, offers exceptional retail space in a thriving Cuyahoga County location. This multi-tenant shopping center boasts a total of 317,266 square feet and features several available spaces, including a 3,200 square foot endcap, a 1,980 square foot endcap, and a 1,200 square foot inline space. The minimum divisible space is 1,200 square feet, with a maximum contiguous space of 3,300 square feet. The center benefits from strong anchor tenants including Walmart Supercenter, Burlington, T.J. Maxx, HomeGoods, and The Grove Kosher Market. Recently opened tenants include Bubbakoo's Burritos and America's Best Contacts and Eyeglasses. This property enjoys a highly desirable location on Warrensville Center Road, situated between Cedar and Mayfield Roads. The surrounding area is densely populated, with over 120,000 people residing within a 3-mile radius, boasting an average household income exceeding $100,000. This prime location places the center at the heart of Cleveland's east-side suburbs, providing excellent access to a substantial customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    South Euclid
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5367
    Latitude
    41.5089

    Comparable in this City

    • Value Estimation by Request
      12,000 SF

      2255 Warrensville Center Rd

      Lifestyle centers • 12,000 SF
      2255 Warrensville Center Rd, University Heights, OH 44118
      View Details
    • Value Estimation
      $3,385,000
      32,598 SF

      13947 Cedar Rd

      MINI-MALL • 32,598 SF
      13947 Cedar Rd, South Euclid, OH 44118-3203
      View Details
    • Value Estimation by Request
      1.15 Acres

      Mayfield Rd

      MINI-MALL • 1.15 Acres
      Mayfield Rd, Cleveland Heights, OH 44118
      View Details
    • Value Estimation by Request
      6,920 SF

      2176 Warrensville Ctr Rd

      MINI-MALL • 6,920 SF
      2176 Warrensville Ctr Rd, University Heights, OH 44118-3125
      View Details
    • Value Estimation by Request
      1.05 Acres

      Mayfield Rd

      MINI-MALL • 1.05 Acres
      Mayfield Rd, Cleveland Heights, OH 44118
      View Details
    • Value Estimation by Request
      1.05 Acres

      20759 Park Blvd

      SHOPPING CENTER, STRIP CENTER • 1.05 Acres
      20759 Park Blvd, University Heights, OH 44118
      View Details

    Similar Nearby for Sale

    • $264,900
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      Updated Duplex in University Heights

      Well-maintained duplex with updates, near John Carroll University.
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    • $335,000
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      Cleveland Heights Income Producing Duplex

      Well-maintained, fully occupied duplex near Little Italy and University Circle.
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      University Heights Multifamily Opportunity

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    • New
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      Well-Maintained Duplex with Recent Updates

      Duplex with strong cash flow potential and updated mechanicals.
      13570 Cedar Rd, University Heights, OH 44118
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    • Contact for pricing
      86,529 SF

      Mixed-Use Property | 86,529 SqFt

      Mixed-use property with 86,529 square feet of space.
      3108 Mayfield Rd, Cleveland Heights, OH 44118
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      East Cleveland Multifamily Value-Add Opportunity

      Three-unit property with income potential near University Circle.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Cedar Center

      Sublease opportunity in University Heights retail center.
      13916 Cedar Rd, University Heights, OH 44118
      View Details
    • Contact for pricing

      Retail Space in South Euclid

      Retail spaces available in a busy shopping center.
      1838 Warrensville Center Rd, South Euclid, OH 44118
      View Details
    • Contact for pricing

      Retail Spaces in Cedar Center

      Retail spaces available in established shopping center near John Carroll.
      13901 Cedar Rd, South Euclid, OH 44118
      View Details
    • Contact for pricing
      2,130 SF

      Severance Town Center Retail Space

      125,000 SF retail space in Severance Town Center.
      3452-3640 Mayfield Rd, Cleveland Heights, OH 44118
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      125,000 SF

      Retail Outlot in Cleveland Heights

      Outlot for lease or sale in busy shopping center.
      3606 Mayfield Rd, Cleveland Heights, OH 44118
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    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Cleveland, Ohio.
      3640 Mayfield Rd, Cleveland, OH 44118
      View Details
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    South Euclid, OH 44118
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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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