1233 Som Center Rd Cleveland, OH 44124
Property Lookup
Property profile & analytics
1233 Som Center Rd Cleveland, OH 44124
- Retail space
- 14,563 SF
- 1.60 lot acres
Property ID
US66-2104247
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.
Location Intelligence
Current Use by Public Records
- Retail space
Property Details for 1233 Som Center Rd
- Year built
- 2007
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.60 lot acres
- Property size
- 14,563 SF
- Zone code
- U-4A
- Property type
- Retail space
- APN
- 862-26-003
- APU
- 86226003
Description
This exceptional investment opportunity presents a fee-simple, single-tenant, net-leased daycare facility in Mayfield Heights, Ohio. The property, a 14,563 square-foot Class A building on a 1.6-acre lot (69,696 sq ft), is fully occupied by Children's Learning Adventure under a brand new 15-year lease commencing at closing. The lease includes two 5-year renewal options and rent bumps every five years, representing the lesser of 8% or 300% CPI. The property boasts a strong 6.27% cap rate and a substantial annual net operating income (NOI) of $495,053. Built in 2007 and renovated in 2024, this daycare center benefits from its prime location on a heavily trafficked retail corridor (over 60,000 vehicles daily) near major retailers such as Target, Costco, Best Buy, and more, drawing from the affluent Gates Mills community (median household income $168,100). The property's proximity to Hillcrest Hospital (2,000 employees) and Interstate 271 further enhances its appeal. The asking price is $7,895,580, translating to $542.17 per square foot and $113.29 per square foot for land value. The property is zoned C in Cuyahoga County, Ohio (APN: 86226003). This is a stabilized investment with minimal landlord responsibilities, offering long-term, inflation-resistant cash flow.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,540,000
- ML approach
- $2,410,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,240,000
- 6.5%
- $2,065,000
- 7%
- $1,920,000
-
Alternative Use
- Use
- Estimation
- RESTAURANT
- $2,455,000
- OFFICE BUILDING
- $2,355,000
- MEDICAL BUILDING
- $1,580,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Mayfield Heights
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.438
- Latitude
- 41.5269
- 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
$73,812
$535,540
$281,020
$816,560
-
$1,530,100
$802,900
$2,333,000
