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    4172-4174-4178 Rocky Riv Dr Cleveland, OH 44135
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    4172-4174-4178 Rocky Riv Dr, Cleveland, OH 44135

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    • Specialty properties
    • 11,800 SF
    • 0.57 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 0 4172-4174-4178 Rocky Riv Dr

    Lot size
    0.57 lot acres
    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional mixed-use property, located at 4172-4174-4178 Rocky River Drive in Cleveland, Ohio, presents a compelling value-add investment opportunity. The 11,800 square foot building sits on a 0.57-acre lot and comprises two buildings, each two stories high. The property features a fully leased 6,251 square foot retail space occupied by "Flight Rentals" and "Dante's Pizza," generating consistent rental income. In addition, the property includes six fully leased apartments – three one-bedroom units and three two-bedroom units. The apartments underwent renovations in 2018 and 2023. Recent capital improvements include a new roof and boiler installed in 2024. The property also boasts a three-car garage (880 square feet), offering additional utility. The asking price is $799,000, translating to $67.71 per square foot. The property benefits from high traffic volume due to its prime location in the Kamms Corner District, with convenient access to Interstates 71 and 90. The property's zoning is LR-C1, Local Retail Business. The owner is responsible for water/sewer, gas, real estate taxes, property maintenance, and CAM fees

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8194
    Latitude
    41.4415

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      1.61 Acres

      20445 Emerald Pkwy Ste, Unit 220

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      0.26 Acres

      Rocky Riv Dr

      SHOPPING CENTER COMMON AREA
      Rocky Riv Dr, Cleveland, OH 44135
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    • Value Estimation by Request
      10,125 SF

      14025 Puritas Ave

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      14025 Puritas Ave, Cleveland, OH 44135
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    Similar Nearby for Sale

    • Contact for pricing
      11,800 SF

      Mixed-Use Property | 11,800 SF

      Mixed-use property featuring 11,800 SF of commercial real estate.
      4172-4174-4178 Rocky Riv Dr, Cleveland, OH 44135
      View Details
    • Contact for pricing
      11,800 SF

      Fully Leased Mixed-Use Building

      Mixed-use property with retail and apartments in Kamms Corner.
      4176 Rocky River Dr, Cleveland, OH 44135
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    • $194,999
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      Cleveland Retail Building Investment

      High-traffic retail space with apartment.
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      Cleveland Triplex with Value-Add Potential

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      41,081 SF

      Industrial Property Near Cleveland Airport

      NNN lease industrial property with long-term tenant near airport.
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    • $198,000
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      Cleveland Commercial Property with Business

      Commercial property with established business, drive-thru, and parking.
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    Similar Nearby for Lease

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      Mixed-Use Building in Kamms Corner

      Mixed-use building with retail space and apartments for rent.
      4176 Rocky River Dr, Cleveland, OH 44135
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      Commercial Property for Rent

      Commercial property available for rent in Cleveland, OH.
      12117 Bennington Ave, Cleveland, OH 44135
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      1,602 SF

      Retail Space Near Metroparks Entrance

      Retail units available near high-traffic intersection and Metroparks entrance.
      19601-19609 Puritas Ave, Cleveland, OH 44135
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      16,500 SF

      Retail Space Near I-71

      Retail space available near I-71 in Cleveland, OH.
      15020 Puritas Ave, Cleveland, OH 44135
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      Retail Space Available For Lease

      Retail spaces for lease in Cleveland, OH.
      19601-19621 Puritas Ave, Cleveland, OH 44135
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    • $4,000 /Mo
      80,934 SF

      Cleveland Commercial Space For Rent

      Commercial space within the newly established Cleveland Pickleball Center.
      12400 Crossburn Ave, Cleveland, OH 44135
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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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