Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12022 Mayfield Rd Cleveland, OH 44106-1922

    • Warehouses
    • 11,058 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0759594
    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

    • Home Bistro / Restaurant

    Property Details for 12022 Mayfield Rd

    Year built
    1910
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.10 lot acres
    Property size
    11,058 SF
    Zone code
    GR
    Property type
    Warehouses
    APN
    121-04-011
    APU
    12104011

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $552,000
      Market price range: $275k - $949k
      AI Estimate
      $537,000
      Market price range: $232k - $865k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $565,000
      Current use
      COMMERCIAL (GENERAL)
      $915,000
      Change: +62% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5984
    Latitude
    41.5084
    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
    $19,390
    $20,130
    $174,020
    $194,150
    -
    $57,500
    $497,200
    $554,700

    Comparable in this City

    • Value Estimation
      $7,225,000
      90,000 SF

      2121 Abington Rd

      WAREHOUSE, STORAGE • 90,000 SF
      2121 Abington Rd, Cleveland, OH 44106
      View Details
    • Value Estimation
      $1,395,000
      17,365 SF

      1619 Mistletoe Dr

      WAREHOUSE, STORAGE • 17,365 SF
      1619 Mistletoe Dr, Cleveland, OH 44106-3966
      View Details
    • Value Estimation by Request
      1,104 SF

      2070 Murray Hl Rd

      WAREHOUSE, STORAGE • 1,104 SF
      2070 Murray Hl Rd, Cleveland, OH 44106
      View Details
    • Value Estimation by Request
      2,820 SF

      12115 Mayfield Rd

      WAREHOUSE, STORAGE • 2,820 SF
      12115 Mayfield Rd, Cleveland, OH 44106-1923
      View Details
    • Value Estimation by Request
      4,174 SF

      12407-1240 Mayfield Rd

      WAREHOUSE, STORAGE • 4,174 SF
      12407-1240 Mayfield Rd, Cleveland, OH 44106
      View Details
    • Value Estimation by Request
      2,860 SF

      11610 Superior Ave

      WAREHOUSE, STORAGE • 2,860 SF
      11610 Superior Ave, Cleveland, OH 44106-1364
      View Details

    Similar Nearby for Sale

    • $409,900
      2,304 SF

      Upgraded Townhome with Skyline View

      Turnkey, three-story townhome built in 2021 near University Circle.
      1497 E 120Th St, Cleveland, OH 44106
      View Details
    • $199,999
      3,439 SF

      Cleveland Multifamily Property for Sale

      Multifamily property in Cleveland, Ohio, totaling 3,439 square feet.
      2179 E 93Rd St, Cleveland, OH 44106
      View Details
    • New
      $300,000
      0.23 Acres

      Cleveland Investment Opportunity: Land Value

      Two-family homes on one lot, prime location, redevelopment potential.
      10511-10515 Frank Ave, Cleveland, OH 44106
      View Details
    • $1,600,000
      8,750 SF

      Retail Opportunity Near Cleveland Clinic

      Retail property for sale near the Cleveland Clinic main campus.
      8514 Carnegie Ave, Cleveland, OH 44106
      View Details
    • New
      $225,000
      5,930 SF

      Colonial Duplex in Fairfax Neighborhood

      Historic duplex near Cleveland Clinic, ideal for restoration or investment.
      2206 E 93Rd St, Cleveland, OH 44106
      View Details
    • Contact for pricing
      0.20 Acres

      Land Near University Circle

      0.20 acre lot near Wade Park and hospitals.
      1344 E 93Rd St, Cleveland, OH 44106
      View Details

    Similar Nearby for Lease

    • $4,000,000
      12,305 SF

      Versatile Warehouse/Manufacturing Space Available

      Adaptable space suitable for various uses, including vertical development.
      10617 Cedar Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      9,100 SF

      Life Science Hub Near University

      80,000 SF facility for life science and healthcare startups.
      11000 Cedar Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      3,350 SF

      Retail Space in Coventry Village

      Retail space for lease in a walkable Cleveland Heights neighborhood.
      2768-2770 Mayfield Rd, Cleveland Heights, OH 44106
      View Details
    • Contact for pricing
      533,000 SF

      University Circle Restaurant Space

      Prime Euclid Ave location, 3,982 SF, patio.
      10730 Euclid Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing
      1,320 SF

      Retail Space in University Circle

      Premier retail space in Cleveland's thriving University Circle District.
      11401-11431 Euclid Ave, Cleveland, OH 44106
      View Details
    • Contact for pricing

      Opportunity Corridor Land for Lease

      Land available within the Opportunity Corridor, near Cleveland Clinic.
      2220 E 105Th St, Cleveland, OH 44106
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12022 Mayfield Rd
    Cleveland, OH 44106-1922
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.