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    12500 Berea Rd Cleveland, OH 44111

    • Manufacturing properties
    • 3.40 lot acres
    For Lease
    View listing
    $66 SF/Yr
    Last Sale
    Aug 02, 2021
    $1,200,000
    Value Estimations
    $1,015,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1991055
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Earnest Machine Products / Manufacturer

    Property Details for 12500 Berea Rd

    Lot size
    3.40 lot acres
    Zone code
    I
    Property type
    Manufacturing properties
    APN
    315-24-009
    APU
    31524009

    Description

    This exceptional industrial property, located at 12500 Berea Rd, Cleveland, OH 44111, offers a significant warehouse space opportunity. The single-tenant building provides flexible space ranging from 1,800 square feet to a substantial 50,000 square feet, catering to a variety of business needs. Its strategic location in Cleveland, Ohio ensures easy access to major transportation routes, streamlining logistics and distribution. The property boasts ample parking with 50 spaces available, ensuring convenient access for employees and clients. Loading and unloading are facilitated by two shared docks and three drive-in doors, optimizing operational efficiency. This warehouse is ideal for businesses seeking a well-maintained, spacious facility in a prime Cleveland location. The property is classified as Industrial, with a Warehouse subtype, and is available for lease as a single tenant space. The property's latitude and longitude coordinates are 41.4726272 and -81.7744394 respectively. This presents a rare opportunity to secure a significant warehouse space in a thriving Ohio market. Contact us today to learn more about leasing this exceptional property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,015,000
      ML approach
      $1,020,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7743
    Latitude
    41.4726
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $45,487
    $63,070
    $356,930
    $420,000
    -
    $180,200
    $1,019,800
    $1,200,000

    Comparable in this City

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    • Value Estimation
      $210,000
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      3140 Berea Rd

      MANUFACTURING (LIGHT) • 0.31 Acres
      3140 Berea Rd, Cleveland, OH 44111-1501
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    • Value Estimation
      $290,000
      10,500 SF

      3455 140th St

      MANUFACTURING (LIGHT) • 10,500 SF
      3455 140th St, Cleveland, OH 44111-2429
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    • Value Estimation
      $420,000
      15,680 SF

      3825 150th St

      MANUFACTURING (LIGHT) • 15,680 SF
      3825 150th St, Cleveland, OH 44111-5806
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    • Value Estimation
      $300,000
      5,000 SF

      10621 Briggs Rd

      MANUFACTURING (LIGHT) • 5,000 SF
      10621 Briggs Rd, Cleveland, OH 44111-5329
      View Details
    • Value Estimation
      $200,000
      0.15 Acres

      106th St

      MANUFACTURING (LIGHT) • 0.15 Acres
      106th St, Cleveland, OH 44111
      View Details

    Similar Nearby for Sale

    • $2,700,000
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      Cleveland Industrial Warehouse - 40,909 SF

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    • $2,350,000
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      Industrial Property on W. 150th

      Industrial property with convenient highway access and ample parking.
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      Manufacturing and Distribution Campus

      Two-building manufacturing/distribution campus with I-90 visibility for sale.
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    • $4,100,000
      92,677 SF

      Manufacturing and Distribution Campus

      Two-building campus with I-90 visibility, includes outparcel.
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      0.4 Acre Commercial Land, Cleveland

      Prime Cleveland location, high traffic, development ready.
      14039 Lorain Ave, Cleveland, OH 44111
      View Details
    • $214,900
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      Cleveland Duplex Investment Opportunity

      Duplex in thriving neighborhood with lucrative rental income potential.
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    Similar Nearby for Lease

    • $66 SF/Yr
      50,000 SF

      Cleveland Warehouse Space for Lease

      Large Warehouse, Excellent Location, Ohio
      12500 Berea Rd, Cleveland, OH 44111
      View Details
    • $6 SF/Yr
      10,000 SF

      Industrial Warehouse Space Available

      10,000 square foot industrial warehouse available for rent.
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      View Details
    • $5 SF/Yr
      15,885 SF

      Clear Span Warehouse Space

      Warehouse space with cranes and ample power for rent.
      11750 Berea Rd, Cleveland, OH 44111
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    • Contact for pricing
      2,250 SF

      Retail Space in Community Center

      Retail space available in a busy Cleveland shopping center.
      10604-10950 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing
      6,617 SF

      Retail Space on Warren Road

      6,617 sq ft retail space available for rent.
      3300-3362 Warren Rd, Cleveland, OH 44111
      View Details
    • Contact for pricing
      4,123 SF

      Retail Spaces with Drive-Thru Potential

      Retail spaces available, can be combined, drive-thru opportunity, ample parking.
      13693-13711 Lorain Ave, Cleveland, OH 44111
      View Details
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    Cleveland, OH 44111
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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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