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    34626 Royalton Rd Grafton, OH 44044
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    34626 Royalton Rd, Grafton, OH 44044

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    • Investment properties
    • 0.01 lot acres
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    Cap Rate Potential
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    Property Details for 34626 Royalton Rd

    Year built
    2024
    Lot size
    0.01 lot acres
    Property type
    Investment properties

    Description

    Brand new storage condos are available for sale in Grafton, Ohio, situated on a high-traffic State Route within a thriving community. These units offer exceptional versatility and investment potential. Located just minutes from the highway, these properties provide easy access and high visibility. Unit sizes range significantly, from 1,000 square feet to a substantial 10,000 square feet, catering to a wide array of storage needs. Each unit boasts 14-foot high insulated garage doors, a convenient man door, and impressive 16-foot ceilings. The interior is finished with drywall and insulation for optimal climate control. The robust construction includes a 2x6 frame, OSB wall sheathing, heavy-gauge metal siding and roofing, and a 6-inch concrete slab capable of supporting RVs and heavy-duty equipment. Individual units feature separate metered gas and 100-amp electrical service. On-site restrooms are equipped with utility sinks and tankless hot water heaters for added convenience. The high ceilings allow for the possibility of constructing a loft, further enhancing the usable space. These units are ideal for storing boats, cars, RVs, or establishing a business. Multiple units can be purchased for rental income, offering a strong potential for high cap rates. The property is situated on a 0.01-acre lot in Eaton Township, with a Grafton mailing address.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grafton
    County
    Lorain
    State
    Ohio
    Longitude
    -81.9897
    Latitude
    41.3148

    Comparable in this City

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      0.01 Acres

      34626 Royalton Rd

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      34626 Royalton Rd, Grafton, OH 44044
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      4,030 SF

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      3,000 SF

      927 Main St

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      884 SF

      915 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
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      1,624 SF

      919 Main St, Unit 1

      OFFICE/RESIDENTIAL (MIXED USE)
      919 Main St, Grafton, OH 44044-1472
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    • Value Estimation by Request
      640 SF

      Rear Land Land

      OFFICE/RESIDENTIAL (MIXED USE)
      Rear Land Land, Grafton, OH 44044
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      Land in Eaton Township

      0.46 acre lot in Eaton Township, Midview Schools.
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      Prime Commercial Land for Lease

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      Land Opportunity Near Meijer

      Land available for lease in a rapidly developing area.
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    Grafton, OH 44044
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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.

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