Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    16820 Harvard Ave Cleveland, OH 44128-2208
    Back to Search
    Property profile & analytics

    16820 Harvard Ave, Cleveland, OH 44128-2208

    View on Map
    • Community centers
    • 58,820 SF
    • 1.77 lot acres
    Off-Market
    Property ID
    US66-2198036
    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.
    Value Estimations
    $1,980,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Coinstar / Bank / Credit Union
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Dave's Market Harvard & Lee / Grocery & Convenience Store / Food Market
    • Fifth Third Bank & ATM / Bank / Loan Service
    • Western Union / Bank / Credit Union

    Property Details for 16820 Harvard Ave

    Year built
    1990
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.77 lot acres
    Zone code
    SC
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    141-10-056
    APU
    14110056

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 18, 2018 $5,565,841 Park Place Oh LLC Lease Fund I LLC Trustees Deed $12.2M · Argentic R/e Fin LLC
    Jun 18, 2018 $12,800,000 Park Place Oh LLC Ecp Commercial IV LLC Grant Deed —
    — — Ecp Commercial IV LLC — Deed Of Trust · related $32.9M · Pacific Wstrn Bk
    — — Lh Dev LLC — Deed Of Trust · related $500k · Village Capital Corp

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5624
    Latitude
    41.4481
    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
    $106,470
    $53,830
    $1,012,240
    $1,066,070
    -
    $153,800
    $2,892,100
    $3,045,900

    Comparable in this City

    • Value Estimation
      $500,000
      16,611 SF

      4013 Lee Rd

      MINI-MALL
      4013 Lee Rd, Cleveland, OH 44128
      View Details
    • Value Estimation
      $7,245,000
      95,184 SF

      4071 Lee Rd

      MINI-MALL
      4071 Lee Rd, Cleveland, OH 44128-2100
      View Details
    • Value Estimation by Request
      1.59 Acres

      Richmond Rd

      SHOPPING CENTER COMMON AREA
      Richmond Rd, Cleveland, OH 44128
      View Details
    • Value Estimation by Request
      0.66 Acres

      Miles Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      Miles Rd, Cleveland, OH 44128
      View Details
    • Value Estimation
      $6,900,000
      110,392 SF

      18525 Miles Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      18525 Miles Rd, Cleveland, OH 44128-3444
      View Details
    • Value Estimation
      $1,205,000
      15,982 SF

      4610 Northfield Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      4610 Northfield Rd, North Randall, OH 44128-4522
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,350 SF

      Two-Building Asset For Sale

      Two-building asset with restaurant and automotive tenants in Warrensville Heights.
      22019 Emery Rd, Warrensville Heights, OH 44128
      View Details
    • Contact for pricing
      4,547 SF

      Retail Building on Emery Road

      4,547 SF freestanding building on 1.087 acres for sale.
      22801 Emery Rd, Warrensville Heights, OH 44128
      View Details
    • Contact for pricing
      13,500 SF

      Mixed-Use Property for Sale

      Mixed-use property featuring office, retail, and specialty spaces.
      4836 Northfield Rd, Cleveland, OH 44128
      View Details
    • Contact for pricing
      11,280 SF

      Retail Building Near Amazon Center

      Free-standing retail building near Amazon Distribution Center.
      4633 Northfield Rd, North Randall, OH 44128
      View Details
    • Contact for pricing
      6,350 SF

      Two-Building Asset in Warrensville Heights

      Two-building asset leased to Georgio’s Pizza and Starr Automotive.
      22019 Emery Rd, Warrensville Heights, OH 44128
      View Details
    • Contact for pricing
      7,050 SF

      Repair Center with Bodyshop

      Six-bay repair center with bodyshop and outdoor storage.
      4635 Northfield Rd, North Randall, OH 44128
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,700 SF

      Retail Plaza on Northfield Road

      Retail space available in North Randall with pylon signage.
      4880 Northfield Rd, North Randall, OH 44128
      View Details
    • Contact for pricing
      1,950 SF

      Retail Spaces Near Amazon Center

      Retail spaces for lease near Amazon Fulfillment Center.
      4840-4860 Northfield Rd, North Randall, OH 44128
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Warrensville Road

      1,600 sq ft retail space available for lease.
      4614-4654 Warrensville Center Rd, North Randall, OH 44128
      View Details
    • $6,000 /Mo
      28,227 SF

      High-Visibility Showroom in North Randall

      Showroom-style retail building with flexible storage and signage opportunity.
      4633 Northfield Rd, North Randall, OH 44128
      View Details
    • Contact for pricing
      8,400 SF

      Freestanding Retail Building on Miles

      8,400 SF retail building for lease with ample parking.
      16605 Miles Ave, Cleveland, OH 44128
      View Details
    • $4,500 /Mo
      55,016 SF

      North Randall Auto Repair Facility

      Established auto repair facility with 7 bays and ample parking.
      4635 Northfield Rd, North Randall, OH 44128
      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.
    16820 Harvard Ave
    Cleveland, OH 44128-2208
    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

    Thank You for Inquiry
    16820 Harvard Ave, Cleveland, OH, 44128
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!