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    205 Center St Seville, OH 44273

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    205 Center St Seville, OH 44273

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    • Retail properties & Spaces
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    Property Details for 205 Center St

    Year built
    2002
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity is located in the highly visible Homestead Plaza, situated on a 0.33-acre lot in Medina County. The property, built in 2002, is a single-story Class B building featuring a total of 96 parking spaces. Currently, two retail spaces are available for lease. The property is zoned LC and has an APN of 01221A|40. One space, Suite 223, offers 1468 square feet of open retail space, ideal for a variety of businesses. The second space, Suite 255, comprises a generous 3000 square feet and includes a well-designed layout featuring a reception area, a large open workspace, four private offices, a convenient kitchenette, ample storage, and two restrooms. This versatile space is perfect for businesses requiring a combination of open and private areas. The plaza enjoys a prime location fronting the busy Center St./SR 3, ensuring high traffic visibility and excellent exposure to potential customers. This presents a unique chance to establish or expand your business in a thriving commercial area. The property offers significant potential for growth and success. The building consists of one structure with a single story. Multiple tenants are currently occupying the plaza.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Seville
    County
    Medina
    State
    Ohio
    Longitude
    -81.8649
    Latitude
    41.0258

    Comparable in this City

    • Value Estimation by Request
      14,386 SF

      205 Center St

      Individual retail properties • 14,386 SF
      205 Center St, Seville, OH 44273
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    • Value Estimation by Request
      1,200 SF

      13 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      13 Main St, Seville, OH 44273-9517
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    • Value Estimation by Request
      2,400 SF

      201 Ctr St

      FINANCIAL BUILDING • 2,400 SF
      201 Ctr St, Seville, OH 44273-8864
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    • Value Estimation by Request
      3,264 SF

      101 Greenwich Rd

      RESTAURANT • 3,264 SF
      101 Greenwich Rd, Seville, OH 44273-9740
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    • Value Estimation by Request
      3,200 SF

      4623 Greenwich Rd

      AUTO REPAIR, GARAGE • 3,200 SF
      4623 Greenwich Rd, Seville, OH 44273-9124
      View Details
    • Value Estimation
      $530,000
      6,720 SF

      115 Greenwich Rd, Unit 117

      RETAIL STORES (PERSONAL SERVICES) • 6,720 SF
      115 Greenwich Rd, Seville, OH 44273-9799
      View Details

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    Similar Nearby for Lease

    • $12 SF/Yr
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      Retail Space in Homestead Plaza

      Retail space available in Homestead Plaza with high visibility.
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      Retail Spaces in Homestead Plaza

      Two retail spaces available for lease in visible Homestead Plaza.
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      Retail Space in Seville, OH

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      Freestanding Building with Drive-Thru

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      Industrial Space with Highway Access

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    Seville, OH 44273
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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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