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    Ridge Rd Madison, OH 44057

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    Ridge Rd Madison, OH 44057

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    • Land
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Ridge Rd

    Lot size
    1.00 lot acres
    Property type
    Land

    Description

    Two exceptional commercial land outlots are available for sale or build-to-suit in Madison, Ohio. Strategically located on heavily trafficked North Ridge Road (US Route 20), these properties offer unparalleled visibility and accessibility. The outlots boast excellent signage opportunities directly facing US Route 20, ensuring maximum brand exposure. This prime location benefits from being shadow-anchored by a Walmart Supercenter, a significant draw for the trade area. The site is part of a thriving retail center, already home to a diverse range of established businesses including Dollar Tree, Shoe Dept., Cato, T-Mobile, Great Clips, Sally Beauty Supply, and Don Tequila. The lot sizes range from one to five acres, providing flexibility for various development projects. This presents a unique opportunity for businesses seeking high-traffic exposure and a strong retail environment in a rapidly growing area. The property's location in Lake County, Ohio, and its proximity to US Route 20, ensures convenient access for customers and employees. Detailed site plans and further information are available upon request. Don't miss this exceptional opportunity to establish your business in a prime retail location. Contact us today to learn more about these exceptional outlots.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Lake
    State
    Ohio
    Longitude
    -81.0718
    Latitude
    41.8017

    Comparable in this City

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      8.83 Acres

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      2.20 Acres

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      Land • 2.20 Acres
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      0.80 Acres

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      0.08 Acres

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      17.69 Acres

      307 Oh-528

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      4.33 Acres

      5982 Ridge Rd

      Land • 4.33 Acres
      5982 Ridge Rd, Madison, OH 44057
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    Similar Nearby for Sale

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      8.83 Acres of Land

      8.83 acres of land available for sale.
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      Land For Sale

      0.8 acres of land available for purchase.
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    • $2,190,000
      20 SF

      25 Acres Near Rickenbacker Airport

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      Grand River Gateway Development Site

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      Commercial Lot in Madison Village

      Corner commercial lot near amenities in historic Madison Village.
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    Similar Nearby for Lease

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      Land Available For Lease

      0.6059 acres of commercial land available for lease.
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      1,801 SF

      Retail Space on North Ridge

      1,801 SF retail space for lease on North Ridge.
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      Prime Retail Location Available

      Retail space with ample parking and excellent visibility for rent.
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      5,375 SF

      Retail Space Available For Lease

      5375 SF retail space available for lease.
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      OH, Madison - Water Tower Dr

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      3,197 SF

      Medical/Office Space Near Cleveland Clinic

      Contiguous medical/office spaces available in newer buildings near major routes.
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    Ridge Rd
    Madison, OH 44057
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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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    Ridge Rd, Madison, OH, 44057

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