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

    12515 Corporate Dr Parma, OH 44130-9322

    • Office buildings
    • 19,408 SF
    • 2.06 lot acres
    OFF-MARKET
    Value Estimations
    $2,185,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6071418
    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 12515 Corporate Dr

    Year built
    2006
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.06 lot acres
    Property size
    19,408 SF
    Zone code
    IP
    Property type
    Office buildings
    APN
    441-24-007
    APU
    44124007

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,593,000
      Market price range: $851k - $3.82M

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

    Location Insight

    • Map
    • Local Demand
    City
    Parma
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7751
    Latitude
    41.4086
    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
    $56,019
    $72,070
    $608,860
    $680,930
    -
    $205,900
    $1,739,600
    $1,945,500

    Comparable in this City

    • Value Estimation
      $1,025,000
      12,854 SF

      16530 Commerce Ct

      OFFICE BUILDING • 12,854 SF
      16530 Commerce Ct, Middleburg Heights, OH 44130-6316
      View Details
    • Value Estimation
      $680,000
      1,800 SF

      5290 Commerce W Pkwy, Unit 5320

      OFFICE BUILDING • 1,800 SF
      5290 Commerce W Pkwy, Parma, OH 44130-1271
      View Details
    • Value Estimation
      $1,250,000
      8,400 SF

      12800 Corporate Dr

      OFFICE BUILDING • 8,400 SF
      12800 Corporate Dr, Parma, OH 44130-9311
      View Details
    • Value Estimation
      $4,490,000
      41,546 SF

      7017 Engle Rd

      OFFICE BUILDING • 41,546 SF
      7017 Engle Rd, Middleburg Heights, OH 44130
      View Details
    • Value Estimation
      $7,420,000
      68,744 SF

      6908 Engle Rd

      OFFICE BUILDING • 68,744 SF
      6908 Engle Rd, Middleburg Heights, OH 44130-3459
      View Details
    • Value Estimation
      $2,300,000
      18,456 SF

      7300 Engle Rd

      OFFICE BUILDING • 18,456 SF
      7300 Engle Rd, Middleburg Heights, OH 44130-3429
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      33,338 SF

      Parma Office Building For Sale

      33,338 SF office building available in Parma, Ohio.
      12965 Corporate Dr, Parma, OH 44130
      View Details
    • Contact for pricing
      1.00 Acre

      Pearl Plaza Commercial Land

      Prime Middleburg Heights land, build-to-suit.
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      670,702 SF

      Independence Warehouse For Sale

      670,702 SF warehouse property available for sale.
      8001 Pleasant Valley Rd, Independence, OH 44130
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    • Contact for pricing

      4.6 Acres Zoned Motor Services

      4.6 acres of commercial land with freeway exposure.
      Engle Lake Dr, Middleburg Heights, OH 44130
      View Details
    • $400,000

      Prime Land Development Opportunity

      Over 3 acres of land suitable for commercial development.
      7364 Pearl Rd, Middleburg Heights, OH 44130
      View Details
    • $400,000
      3.06 Acres

      Middleburg Heights Commercial Land Opportunity

      3+ acre commercial land for development in Middleburg Heights, OH.
      7364 Pearl Rd, Middleburg Heights, OH 44130
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      12,000 SF

      Freestanding Office Building For Rent

      12,000 SF office building with private offices and parking.
      7510 E Pleasant Valley Rd, Independence, OH 44130
      View Details
    • Contact for pricing
      25,000 SF

      Engle Road Industrial/Office Space

      Prime 25,000 SF Ohio Warehouse/Office
      17450 Engle Rd, Middleburg Heights, OH 44130
      View Details
    • $6 SF/Yr
      6,033 SF

      7055 Engle Rd

      Office space
      7055 Engle Rd, Middleburg Heights, OH 44130
      View Details
    • $21 SF/Yr
      2,860 SF

      Medical Office Campus Near Hospital

      Two-building medical office campus across from Southwest General Health Center.
      18660 Bagley Rd, Middleburg Heights, OH 44130
      View Details
    • $29 SF/Yr
      15,537 SF

      Medical Office Space Near Hospital

      Class A medical office building anchored by Southwest General Health Center.
      18780 Bagley Rd, Middleburg Heights, OH 44130
      View Details
    • $21 SF/Yr
      2,450 SF

      Middleburg Heights Medical Office Space

      Prime Medical Office Suites Available
      18660 Bagley Rd, Middleburg Heights, OH 44130
      View Details
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    12515 Corporate Dr
    Parma, OH 44130-9322
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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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