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    1260 Smith Court , Rocky River, OH 44116 Rocky River, OH 44116
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    1260 Smith Court , Rocky River, OH 44116, Rocky River, OH 44116

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    Current Use by Public Records

    • Office buildings

    Property Details for 1260 Smith Court , Rocky River, OH 44116

    Year built
    1917
    Property type
    Office buildings
    Property subtype
    Medical Office Space

    Description

    Office Bldg that was previously run as a coin shop in the center of Rocky River. Almost 2,000 sqft to convert to an office space of your choice. The first floor is approximately 1,428 sqft and includes a bathroom and breakroom, that is ready to be renovated to fit your office requirements. An additional 525 sqft on the second floor with a vaulted ceiling. The perfect location in Rocky River, where you can use your imagination to build-out the space to your specifications. Don't hesitate to get in touch with the agent with any questions.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rocky River
    County
    State
    Ohio
    Longitude
    -81.8542609
    Latitude
    41.47305

    Comparable in this City

    • Value Estimation by Request
      1,948 SF

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      19433 Detroit Rd, Rocky River, OH 44116-1803
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    • Value Estimation
      $895,000
      6,142 SF

      19133 Hilliard Blvd

      MEDICAL BUILDING
      19133 Hilliard Blvd, Rocky River, OH 44116-2907
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    • Value Estimation by Request
      584 SF

      21851 Ctr Rdg Rd3b4

      MEDICAL BUILDING
      21851 Ctr Rdg Rd3b4, Rocky River, OH 44116-3976
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    • Value Estimation by Request
      2,632 SF

      Plymouth Ave

      MEDICAL BUILDING
      Plymouth Ave, Rocky River, OH 44116
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    • Value Estimation by Request
      6,000 SF

      21590 Ctr Rdg Rd

      MEDICAL BUILDING
      21590 Ctr Rdg Rd, Rocky River, OH 44116-3945
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    • Value Estimation by Request
      784 SF

      21851 Ctr Rdg Rd3b3

      MEDICAL BUILDING
      21851 Ctr Rdg Rd3b3, Rocky River, OH 44116-3976
      View Details

    Similar Nearby for Sale

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      226,155 SF

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      2,340 SF

      Rocky River Multifamily Investment Opportunity

      Well-maintained multifamily property with income potential in desirable Rocky River.
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    • $399,000
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      Rocky River Multifamily Investment Opportunity

      Well-maintained duplex with income potential in desirable Rocky River.
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    • $250,000
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      Rocky River Vacant Lot Opportunity

      Vacant lot with picturesque views, ideal for custom home.
      Riverdale Dr, Rocky River, OH 44116
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    • $139,000
      0.07 Acres

      Residential Land in Rocky River

      Land for sale in Rocky River, Ohio.
      416 Riverdale Dr, Rocky River, OH 44116
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    Similar Nearby for Lease

    • Contact for pricing
      2,100 SF

      Retail and Office Space Available

      Ground floor retail and second floor office/medical space for rent.
      19290-19300 Detroit Rd, Rocky River, OH 44116
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    • $12 SF/Yr
      51,000 SF

      20575 Center Ridge Rd

      Office Units
      20575 Center Ridge Rd, Rocky River, OH 44116
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    • Contact for pricing
      3,441 SF

      Retail and Office Space Available

      Ground floor retail and second floor office/medical space for rent.
      19290 Detroit Rd, Rocky River, OH 44116
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    • Contact for pricing
      1,330 SF

      First Floor Office Opportunity

      Office suite available near shopping center in Rocky River.
      1250 Linda Ave, Rocky River, OH 44116
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      Retail Space in Rocky River

      Retail spaces available in Westwood Town Center, Rocky River.
      21653 Center Ridge Rd, Rocky River, OH 44116
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    • Contact for pricing
      4,500 SF

      Prime Retail Space in Rocky River

      Retail space with high visibility in affluent Rocky River.
      19801 Detroit Rd, Rocky River, OH 44116
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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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