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

    12645 Pearl Rd Strongsville, OH 44136-3418

    • Medical offices
    • 3,230 SF
    • 0.60 lot acres
    OFF-MARKET
    Last Sale
    May 01, 2024
    $532,500
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    6%
    Medical offices
    Location Intelligence
    Property ID
    US66-1775252
    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 12645 Pearl Rd

    Year built
    1984
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.60 lot acres
    Property size
    3,230 SF
    Zone code
    GB
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    396-07-003
    APU
    39607003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $535,000
      ML approach
      $535,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $535,000
      6.5%
      $495,000
      7%
      $460,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $331,000
      Market price range: $189k - $532k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $350,000
      Current use
      OFFICE BUILDING
      $520,000
      Change: +49% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $325,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Strongsville
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8355
    Latitude
    41.3211
    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
    $9,189
    $38,190
    $74,270
    $112,460
    -
    $109,100
    $212,200
    $321,300

    Comparable in this City

    • Value Estimation
      $985,000
      20,260 SF

      17406 Royalton Rd

      MEDICAL BUILDING • 20,260 SF
      17406 Royalton Rd, Strongsville, OH 44136-5144
      View Details
    • Value Estimation
      $840,000
      9,100 SF

      17534 Royalton Rd

      MEDICAL BUILDING • 9,100 SF
      17534 Royalton Rd, Strongsville, OH 44136-5151
      View Details
    • Value Estimation by Request
      2,624 SF

      18910 Westwood Dr

      MEDICAL BUILDING • 2,624 SF
      18910 Westwood Dr, Strongsville, OH 44136-3440
      View Details
    • Value Estimation
      $780,000
      5,364 SF

      17112 Pearl Rd

      MEDICAL BUILDING • 5,364 SF
      17112 Pearl Rd, Strongsville, OH 44136-6059
      View Details
    • Value Estimation by Request
      2,526 SF

      16360 Pearl Rd

      MEDICAL BUILDING • 2,526 SF
      16360 Pearl Rd, Strongsville, OH 44136-6040
      View Details
    • Value Estimation by Request
      0.35 Acres

      18832 Westwood Dr

      MEDICAL BUILDING • 0.35 Acres
      18832 Westwood Dr, Strongsville, OH 44136-3432
      View Details

    Similar Nearby for Sale

    • $229,900
      0.03 Acres

      Renovated Office Condo in Strongsville

      Turnkey office condo with modern design and convenient location.
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    • $249,900
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      Albion Place Professional Offices

      Fully Updated Office Space
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    • $1,250,000
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      Strongsville Office Building For Sale

      9,460 SF Office Building, Prime Location
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      View Details
    • $5,500,000
      88,816 SF

      Strongsville Office HQ - 17 Acres

      Turnkey HQ, 88,816 SF, 17 acres
      15883 Sprague Rd, Strongsville, 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.
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    Similar Nearby for Lease

    • $18 SF/Yr
      21,960 SF

      Strongsville Medical Office Space

      Prime Strongsville location, 6,700 SF available
      17406 Royalton Rd, Strongsville, OH 44136
      View Details
    • $12 SF/Yr
      35,000 SF

      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
      18315 Southpark Ctr, Strongsville, OH 44136
      View Details
    • Contact for pricing

      Modern Warehouse in Strongsville District

      New warehouse space with loading docks and truck court.
      Strongsville, OH 44136
      View Details
    • Contact for pricing
      312,000 SF

      Southpark Plaza Retail Center

      High-traffic Strip Center, Strong Anchors
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      View Details
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    Strongsville, OH 44136-3418
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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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