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    Strongsville Royalton Rd & Prospect Rd Strongsville, OH 44149

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    Strongsville Royalton Rd & Prospect Rd Strongsville, OH 44149

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    • Retail properties & Spaces
    • 7,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Strongsville Royalton Rd & Prospect Rd

    Property size
    7,500 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional new retail and restaurant development in Strongsville, Ohio, offers 7,500 square feet of leasable space, divisible into units as small as 1,500 square feet. The property features three total suites, all currently vacant, providing a unique opportunity for businesses seeking high-visibility locations. Situated on a 1.1-acre lot at the hard corner of a signalized intersection of Royalton Road and Prospect Road in Cuyahoga County, this development boasts a standout architectural design. The property is zoned for Local Business use, ensuring flexibility for a variety of commercial ventures. This prime location benefits from a strong demographic profile, with an average household income of $134,330 within a three-mile radius, indicating significant consumer spending power. The available space ranges from 1,500 to 4,000 square feet, making it suitable for a variety of restaurant and retail concepts. This is an unparalleled opportunity to establish a business in a thriving community with high visibility and strong consumer demand. The property's address is in Strongsville, Ohio, zip code 44149. Contact us today to learn more about this exciting opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Strongsville
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8579
    Latitude
    41.3124

    Comparable in this City

    • Value Estimation by Request

      13325 Prospect Rd

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      13325 Prospect Rd, Strongsville, OH 44149
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    • Value Estimation by Request

      11037 Prospect Rd

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      11037 Prospect Rd, Strongsville, OH 44149
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    • Value Estimation by Request
      1,107 SF

      20533 Royalton Rd

      NURSERY, GREENHOUSE, FLORIST • 1,107 SF
      20533 Royalton Rd, Strongsville, OH 44149-4969
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    • Value Estimation by Request
      0.88 Acres

      19133 Westwood Dr

      RESTAURANT • 0.88 Acres
      19133 Westwood Dr, Strongsville, OH 44149-4128
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    • Value Estimation by Request
      7,148 SF

      12482 Prospect Rd, Unit 12492

      RESTAURANT • 7,148 SF
      12482 Prospect Rd, Strongsville, OH 44149-2944
      View Details
    • Value Estimation
      $2,100,000
      2,768 SF

      21043 Royalton Rd

      CONVENIENCE STORE • 2,768 SF
      21043 Royalton Rd, Strongsville, OH 44149-3801
      View Details

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      19,130 SF

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      Prime Strongsville Storefront Opportunity

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      Industrial Land Available For Sale

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      Strongsville Industrial Property with Rail Access

      61,431 SF industrial property with rail access in Strongsville.
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    • $99,900
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      Residential Land in Strongsville, OH

      0.29-acre lot for building a custom home.
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      Land for New Development

      2.03 acres of land for sale in Strongsville, OH.
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    Similar Nearby for Lease

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      Strongsville Warehouse Space Available

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      Drake Road Commercial Property

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      Available Flex and Office Space

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      52,708 SF

      Office/Warehouse in Strongsville, Ohio

      Office/warehouse with high ceilings, private entrances, and included utilities.
      19511 Progress Dr, Strongsville, OH 44149
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      Strongsville Office Space Available

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    • Contact for pricing

      Flex Space Available For Rent

      Flex space available for rent in Strongsville, Ohio.
      Strongsville, OH 44149
      View Details
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    Strongsville, OH 44149
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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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