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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1055 Royalton Rd Broadview Heights, OH 44147

    • Medical offices
    • 4,550 SF
    • 0.57 lot acres
    For Lease
    View listing
    Value Estimations
    $505,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1906222
    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

    • Medical offices

    Property Details for 1055 Royalton Rd

    Year built
    2018
    Lot size
    0.57 lot acres
    Property size
    4,550 SF
    Zone code
    SPDA
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    583-04-022
    APU
    58304022

    Description

    This exceptional 2,250 square foot retail space, located at 1055 W Royalton Rd in Broadview Heights, Ohio, presents a unique investment opportunity. Built in 2018, the property is part of a single-building, multi-tenant complex with a total of two suites. The building enjoys a prime location within a high-traffic retail corridor, boasting excellent visibility from Royalton Road and adjacent Broadview Road. The property benefits from prominent monument signage, enhancing its appeal and brand recognition. The space is currently vacant and ready for immediate occupancy. Situated in Cuyahoga County, Broadview Heights is a thriving suburb of Cleveland, characterized by a high average household income, making it an attractive market for businesses. This modern building offers a fantastic opportunity for medical or office tenants seeking a well-located, easily accessible space in a prosperous community. The 2,250 square foot space provides ample room for a variety of uses, and its recent construction ensures modern amenities and efficient layouts. The zip code is 44147. This property is ideal for businesses seeking high visibility and access to a strong consumer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $755,000
      6.5%
      $695,000
      7%
      $645,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $586,000
      Market price range: $266k - $750k
      AI Estimate
      $418,000
      Market price range: $155k - $544k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $495,000
      Current use
      OFFICE BUILDING
      $735,000
      Change: +49% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $460,000
      Change: -7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $405,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Broadview Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6861
    Latitude
    41.3134
    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
    $16,721
    $70,000
    $129,220
    $199,220
    -
    $200,000
    $369,200
    $569,200

    Comparable in this City

    • Value Estimation
      $1,315,000
      9,600 SF

      7000 Town Ctr Dr

      MEDICAL BUILDING • 9,600 SF
      7000 Town Ctr Dr, Broadview Heights, OH 44147-4008
      View Details
    • Value Estimation
      $7,210,000
      49,470 SF

      5901 Royalton Rd

      MEDICAL BUILDING • 49,470 SF
      5901 Royalton Rd, Broadview Heights, OH 44147-3532
      View Details
    • Value Estimation by Request
      5,200 SF

      8200 Avery Rd

      MEDICAL BUILDING • 5,200 SF
      8200 Avery Rd, Broadview Heights, OH 44147-1662
      View Details
    • Value Estimation
      $510,000
      8,671 SF

      229 Wallings Rd

      MEDICAL BUILDING • 8,671 SF
      229 Wallings Rd, Broadview Heights, OH 44147-1207
      View Details
    • Value Estimation by Request
      2,715 SF

      9417 Broadview Rd

      MEDICAL BUILDING • 2,715 SF
      9417 Broadview Rd, Broadview Heights, OH 44147-2307
      View Details
    • Value Estimation
      $2,920,000
      21,054 SF

      303 Royalton Rd

      MEDICAL BUILDING • 21,054 SF
      303 Royalton Rd, Broadview Heights, OH 44147-2591
      View Details

    Similar Nearby for Sale

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      Prime Broadview Heights Office Space

      Executive Office Building, 11,226 SF, $2.4M
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    • $925,000

      9.42 Acre Development Site

      9.42-acre development site in Brecksville, OH.
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    • $425,000
      4.24 Acres

      Cleared Land Ready to Build

      Two build-ready lots in Broadview Heights, convenient location.
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    • Contact for pricing
      2.00 Acres

      Brecksville Land: 2 Acres Available

      Prime Brecksville land, ideal for development.
      SR 82 Royalton Rd, Brecksville, OH 44147
      View Details
    • $95,000
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      Broadview Heights Commercial Land

      0.83-acre lot, prime commercial location.
      9427 Broadview Rd, Broadview Heights, OH 44147
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    • $599,000
      9.34 Acres

      9.34 Acre Lot in Broadview Heights

      9.34 acre lot to build your dream home.
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    Similar Nearby for Lease

    • Contact for pricing
      2,250 SF

      Broadview Heights Retail Space

      Modern Medical/Office Retail Space Available
      1055 Royalton Rd, Broadview Heights, OH 44147
      View Details
    • Contact for pricing
      28,160 SF

      Wellpoint Plaza: Broadview Heights Office

      Medical & Traditional Office Suites Available
      203 Royalton Rd, Broadview Heights, OH 44147
      View Details
    • $21 SF/Yr
      400 SF

      Sprague Road Executive Office Suite

      Prime Cuyahoga County Office Space
      150 Sprague Rd, Broadview Heights, OH 44147
      View Details
    • Contact for pricing

      Broadview Heights Office Property For Rent

      60,000 SF office property in Broadview Heights, Ohio.
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    • $18 SF/Yr
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      Broadview Heights Office Space Available

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    • Contact for pricing
      2,128 SF

      Broadview Heights Office Space Available

      2,128 sq ft office space for rent.
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      View Details
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    Broadview Heights, OH 44147
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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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