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    22451-22690 Shore Center Dr Euclid, OH 44123
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    22451-22690 Shore Center Dr, Euclid, OH 44123

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    • Retail properties & Spaces
    • 111,152 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 22451-22690 Shore Center Dr

    Property type
    Retail properties & Spaces

    Description

    Shore Center Plaza, a vibrant 111,152-square-foot community center in Cuyahoga County, offers exceptional retail opportunities. This multi-tenant property boasts a prime location adjacent to popular businesses such as Atlas Cinemas, Marc's, Dunkin', Chipotle, and Burlington Coat Factory, ensuring high foot traffic and visibility. The center itself houses a diverse range of established tenants including Dave's Market, Burger King, Pizza Hut, Aaron's, Dollar Tree, CitiTrends, Hibbett Sports, and Little Caesars, creating a strong and synergistic retail environment. Currently, several spaces are available, ranging from a minimum of 1,250 square feet to a maximum of 3,117 square feet, providing flexibility for various retail concepts. The minimum divisible space is 1,890 square feet, while the maximum contiguous space available is 2,760 square feet. This bustling neighborhood retail area presents a unique chance to establish or expand your business within a thriving community center. The property's strategic location and established tenant mix offer a compelling investment opportunity with significant potential for growth and return. Contact us today to learn more about the available spaces and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Euclid
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5253
    Latitude
    41.6086

    Comparable in this City

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      3,900 SF

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    • Value Estimation
      $570,000
      1,056 SF

      23745 Lk Shr Blvd

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    • Value Estimation
      $590,000
      28,122 SF

      22574 Lk Shr Blvd

      RETAIL STORES (PERSONAL SERVICES)
      22574 Lk Shr Blvd, Euclid, OH 44123-1378
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    • Value Estimation by Request
      7,630 SF

      878 222nd St

      RETAIL STORES (PERSONAL SERVICES)
      878 222nd St, Euclid, OH 44123-3316
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    • Value Estimation by Request
      2,940 SF

      254 222nd St

      RESTAURANT
      254 222nd St, Euclid, OH 44123-1719
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    • Value Estimation by Request
      5,256 SF

      321 Babbitt Rd

      SHOPPING CENTER, STRIP CENTER
      321 Babbitt Rd, Euclid, OH 44123-1607
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      9,980 SF

      Euclid Retail Space For Lease

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      22800-22840 Lake Shore Blvd, Euclid, OH 44123
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      2,760 SF

      Community Center Retail Space Available

      Retail space available in a busy neighborhood community center.
      22451-22467 Shr Ctr Ave, Euclid, OH 44123
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    • $2,900 /Mo
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      Renovated Retail Spaces with Parking

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      Euclid Retail Space Available

      Retail spaces available, ranging from 1,250 to 11,200 SqFt.
      22451-22690 Shore Center Dr, Euclid, OH 44123
      View Details
    • $3,000 /Mo

      940 Babbitt Rd

      MODERN INDUSTRIAL SPACE IN EUCLID YOUR PRIME LOCATION FOR GROWTH AND LOGISTICS
      940 Babbitt Rd, Euclid, OH 44123
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    • Contact for pricing
      1,250 SF

      Retail Space in Busy Center

      Community center retail space available for lease.
      22674-22690 Shore Center Dr, Euclid, OH 44123
      View Details
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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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