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    8300 Dow Cir Strongsville, OH 44136

    • Office buildings
    • 35,560 SF
    • 3.26 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Dec 15, 2020
    $2,200,000
    Value Estimations
    $2,710,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1791900
    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

    • Office buildings

    Property Details for 8300 Dow Cir

    Year built
    1983
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.26 lot acres
    Property size
    35,560 SF
    Zone code
    RD
    Property type
    Office buildings
    APN
    395-12-003
    APU
    39512003

    Description

    Tech Park I, located at 8300 Dow Cir, Strongsville, OH 44136, offers 23,000 square feet of vacant office space in a prime location. This single, two-story building, built in 1983, sits on 3.26 acres and boasts 35,000 total square feet. The space features 9-12 foot ceilings and is divisible to a minimum of 2,400 square feet, with a maximum contiguous space of 23,000 square feet. The property includes ample parking with 100 spaces and two elevators. The building is zoned for Office, R&D, and Warehouse use, making it suitable for a variety of businesses. Conveniently located near I-71, the Ohio Turnpike (I-80), and I-90, it offers easy access to Cleveland-Hopkins International Airport and downtown Cleveland. The property features numerous offices, conference rooms, a lab area, kitchen, and restrooms, allowing for flexible layouts. Common area maintenance (CAM) is approximately $1.25 per square foot and includes water/sewer, snow removal, insurance, common electric, parking lot maintenance, landscaping, fire protection, and building repairs. Tenants are responsible for gas/electric/trash/interior security and HVAC routine maintenance. A new roof was installed in 2018. The average household income within a one-mile radius exceeds $100,000. Rent abatement is available. The property is currently partially occupied by Lumitex and is situated in a thriving office park with notable companies nearby. Subdivision options are available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,630,000
      ML approach
      $2,680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,609,000
      Market price range: $2.48M - $10.4M
      AI Estimate
      $4,007,000
      Market price range: $1.98M - $10.0M

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

    Location Insight

    • Map
    • Local Demand
    City
    Strongsville
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8073
    Latitude
    41.3479
    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
    $62,914
    $78,650
    $691,360
    $770,010
    -
    $224,700
    $1,975,300
    $2,200,000

    Comparable in this City

    • Value Estimation
      $815,000
      15,362 SF

      8220 Mohawk Dr

      OFFICE BUILDING • 15,362 SF
      8220 Mohawk Dr, Strongsville, OH 44136-1794
      View Details
    • Value Estimation
      $340,000
      843 SF

      10850 Pearl Rd Ste D4

      OFFICE BUILDING • 843 SF
      10850 Pearl Rd Ste D4, Strongsville, OH 44136-3305
      View Details
    • Value Estimation
      $355,000
      841 SF

      9197 Pearl Rd

      OFFICE BUILDING • 841 SF
      9197 Pearl Rd, Strongsville, OH 44136-1401
      View Details
    • Value Estimation
      $645,000
      1,580 SF

      14001 Pearl Rd

      OFFICE BUILDING • 1,580 SF
      14001 Pearl Rd, Strongsville, OH 44136-8707
      View Details
    • Value Estimation
      $355,000
      1,217 SF

      10850 Pearl Rd Ste D1

      OFFICE BUILDING • 1,217 SF
      10850 Pearl Rd Ste D1, Strongsville, OH 44136-3305
      View Details
    • Value Estimation
      $325,000
      1,684 SF

      13702 Pearl Rd

      OFFICE BUILDING • 1,684 SF
      13702 Pearl Rd, Strongsville, OH 44136-3409
      View Details

    Similar Nearby for Sale

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      0.03 Acres

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      Strongsville Office Building For Sale

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    • $249,900
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      Albion Place Professional Offices

      Fully Updated Office Space
      10750 Pearl Rd UNIT E-4, Cleveland, OH 44136
      View Details
    • $1,800,000
      7.10 Acres

      Strongsville Commercial Land - 7.1 Acres

      Prime 7.1-acre commercial lot, build-to-suit option.
      0 Pearl Rd, Strongsville, OH 44136
      View Details
    • $870,000
      12,490 SF

      Climate Controlled Warehouse with Expansion

      12,490 SF warehouse with expansion potential near airport.
      8388 Dow Cir, Strongsville, OH 44136
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      21,960 SF

      Strongsville Medical Office Space

      Prime Strongsville location, 6,700 SF available
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      View Details
    • $12 SF/Yr
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      Tech Park I Office Space

      Strongsville, OH: Flexible Office Suites
      8300 Dow Cir, Strongsville, OH 44136
      View Details
    • Contact for pricing
      1,950 SF

      Strongsville Retail Space Available

      Prime Strongsville Retail Center, 1,950 SF
      14375 Pearl Rd, Strongsville, OH 44136
      View Details
    • Contact for pricing
      24,829 SF

      Southpark Commons Retail Outparcel

      Prime Retail Land, High Traffic Area
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      View Details
    • Contact for pricing
      312,000 SF

      Southpark Plaza Retail Center

      High-traffic Strip Center, Strong Anchors
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    • Contact for pricing
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      Staples Plaza Retail Space Available

      Strongsville retail space, two units available.
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      View Details
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    8300 Dow Cir
    Strongsville, OH 44136
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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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