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    17400 Lorain Ave Cleveland, OH 44111-4028
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    Property profile & analytics

    17400 Lorain Ave, Cleveland, OH 44111-4028

    View on Map
    • Strip malls
    • 122,125 SF
    • 11.44 lot acres
    Off-Market
    Property ID
    US66-2033406
    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
    $9,045,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Marc's Stores / Grocery & Convenience Store / Food Market
    • Marc's Pharmacy / Pharmacy
    • Cardtronics ATM / Atm
    • LibertyX Bitcoin ATM / Atm
    • Cynthia Knapik / Pharmacy

    Property Details for 17400 Lorain Ave

    Year built
    1962
    Lot size
    11.44 lot acres
    Zone code
    SC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    025-03-057
    APU
    2503057

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 20, 2017 — Kamms Plaza Shopping Center Ll — Deed · related $3.1M · Miscellaneous Ins Co
    — — Kamms Plaza Shopping Ctr LLC — Deed Of Trust · related $3.5M · Firstmerit Bk
    — — Kamms Plaza Shopping Center Ll — Deed Of Trust · related $3.1M · Miscellaneous Ins Co

    Description

    Kamm's Plaza offers exceptional retail and office space for lease in a thriving Cuyahoga County location. This well-established neighborhood center, anchored by Marc's, boasts a total of 137,915 square feet and currently has 26,330 square feet of vacant space available. Multiple tenancy options exist, with spaces ranging from a minimum of 1,200 square feet to a maximum contiguous space of 10,130 square feet. Ideal for businesses seeking high visibility and convenient access, the property features inline ground floor retail spaces ranging from 1,600 to 10,130 square feet. There is also 1,200 square feet of endcap retail space available with prominent Lorain Avenue frontage. This vibrant shopping center benefits from strong co-tenancy with established businesses including Dollar Tree, Minutemen Staffing, and Sherwin Williams, ensuring high foot traffic and a robust customer base. The property is situated at the intersection of Lorain Avenue and Rocky River Drive, providing excellent accessibility and visibility. This is a unique opportunity to secure prime retail or office space in a highly desirable location. Inquire today to learn more about available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,329,000
      Market price range: $6.66M - $22.9M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $12,370,000
      Current use
      MEDICAL BUILDING
      $13,270,000
      Change: +7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $10,865,000
      Change: -12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $10,120,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8181
    Latitude
    41.4512
    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
    $300,254
    $1,046,050
    $1,960,350
    $3,006,400
    -
    $2,988,700
    $5,601,000
    $8,589,700

    Comparable in this City

    • Value Estimation
      $2,590,000
      35,854 SF

      2150 117th St, Unit 2168

      SHOPPING CENTER, STRIP CENTER
      2150 117th St, Cleveland, OH 44111-1641
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    • Value Estimation
      $2,535,000
      11,907 SF

      13470 Tyler Ave

      SHOPPING CENTER, STRIP CENTER
      13470 Tyler Ave, Cleveland, OH 44111
      View Details
    • Value Estimation
      $875,000
      7,696 SF

      14055 Lorain Ave

      SHOPPING CENTER, STRIP CENTER
      14055 Lorain Ave, Cleveland, OH 44111-3240
      View Details
    • Value Estimation by Request
      2,294 SF

      15234 Triskett Rd

      SHOPPING CENTER, STRIP CENTER
      15234 Triskett Rd, Cleveland, OH 44111-3127
      View Details
    • Value Estimation
      $14,615,000
      126,858 SF

      3100 117th St

      WHOLESALE OUTLET, DISCOUNT STORE
      3100 117th St, Cleveland, OH 44111-1747
      View Details
    • Value Estimation by Request
      1,170 SF

      11717 Geraldine Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      11717 Geraldine Ave, Cleveland, OH 44111
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Lorain Avenue Retail Land Parcels

      Seven land parcels available for sale or land lease.
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      11,625 SF

      Retail Building in Cleveland Area

      11,625 SF retail building in a vibrant Cleveland location.
      3171 Boulevard Ct W, Cleveland, OH 44111
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    • $915,000
      10,346 SF

      Freestanding Retail Building For Sale

      Freestanding 10,346 SF building with long-term tenant in place.
      11011 Lorain Ave, Cleveland, OH 44111
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    • Contact for pricing
      34,250 SF

      Kamm's Corner Redevelopment Opportunity

      Redevelopment opportunity in Kamm's Corners District on Lorain Ave.
      15200-15220 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing
      2,176 SF

      Freestanding Retail Building

      2,176 SF building on 0.97 acres.
      3255 W 117Th St, Cleveland, OH 44111
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    Similar Nearby for Lease

    • Contact for pricing

      Community Shopping Center For Lease

      Community shopping center with national and local retailers.
      10604 Lorain Ave, Cleveland, OH 44111
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      Retail Space Near Major Retailers

      Retail space available near Burlington, ROSS, Five Below, Aldi, Starbucks.
      14901 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing
      1,800 SF

      Drive-Thru Opportunity in Cleveland

      Drive-thru space available for ground lease or build to suit.
      13693 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing
      34,360 SF

      Retail Space in Cleveland, OH

      Retail property available for lease in Cleveland, Ohio.
      14901 Lorain Ave, Cleveland, OH 44111
      View Details
    • Contact for pricing
      6,617 SF

      Retail Space on Warren Road

      6,617 sq ft retail space available for rent.
      3300-3362 Warren Rd, Cleveland, OH 44111
      View Details
    • Contact for pricing
      4,123 SF

      Retail Spaces with Drive-Thru Potential

      Retail spaces available, can be combined, drive-thru opportunity, ample parking.
      13693-13711 Lorain Ave, Cleveland, OH 44111
      View Details
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    Cleveland, OH 44111-4028
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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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