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    3050 Guernsey St Bellaire, OH 43906

    • Retail properties
    • 15,720 SF
    For Lease
    View listing
    $8 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Valley Wellness Center / Physician
    • Dollar Tree / Grocery & Convenience Store / Food Market
    • Demitra Ring / Physician
    • Laken Jones / Physician
    • Theresa Palkovic / Physician

    Property Details for 3050 Guernsey St

    Property size
    15,720 SF
    Property type
    Retail properties

    Description

    This exceptional retail property in Bellaire, Ohio, offers 15,720 square feet of space in a multi-tenant building located at 3050 Guernsey St, 43906. Currently undergoing renovations, the building boasts a recently remodeled structure and features established tenants including Dollar Tree and Valley Rehab. A new Eric & Ruby's Nail Salon is under construction, further enhancing the property's appeal and occupancy. Two retail spaces are immediately available for lease, each offering unique opportunities for businesses seeking high-visibility locations. One space measures 1,275 square feet, while the other is slightly larger at 1,327 square feet. The property's strategic location in Bellaire provides excellent access to a thriving local market and offers significant potential for growth. The building's modern updates and strong tenant mix create a desirable environment for new businesses. This is an ideal opportunity for businesses seeking a well-maintained, high-traffic location in a growing community. The available spaces are ready for immediate occupancy, allowing businesses to quickly establish their presence and capitalize on the area's commercial activity. Interested parties are encouraged to inquire about lease terms and availability. The property's prime location and recent renovations make it a highly attractive investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bellaire
    County
    Belmont
    State
    Ohio
    Longitude
    -80.7447
    Latitude
    40.0128

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      Guernsey St

      PARKING GARAGE, PARKING STRUCTURE • 0.08 Acres
      Guernsey St, Bellaire, OH 43906
      View Details
    • Value Estimation by Request
      0.09 Acres

      Un St

      PARKING GARAGE, PARKING STRUCTURE • 0.09 Acres
      Un St, Bellaire, OH 43906
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    • Value Estimation by Request
      0.04 Acres

      Un St

      PARKING GARAGE, PARKING STRUCTURE • 0.04 Acres
      Un St, Bellaire, OH 43906
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    • Value Estimation by Request
      0.31 Acres

      Th St

      PARKING GARAGE, PARKING STRUCTURE • 0.31 Acres
      Th St, Bellaire, OH 43906
      View Details
    • Value Estimation by Request
      0.18 Acres

      Th Belmont St

      PARKING GARAGE, PARKING STRUCTURE • 0.18 Acres
      Th Belmont St, Bellaire, OH 43906
      View Details
    • Value Estimation
      $665,000
      5,122 SF

      112 2nd Ave

      SHOPPING CENTER, STRIP CENTER • 5,122 SF
      112 2nd Ave, Bellaire, OH 43906-1005
      View Details

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    Similar Nearby for Lease

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    3050 Guernsey St
    Bellaire, OH 43906
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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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