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    17495 Royalton Rd Strongsville, OH 44136

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    17495 Royalton Rd Strongsville, OH 44136

    View on Map
    • Super regional malls
    • 559,128 SF
    • 51.19 lot acres
    Off-Market
    Last Sale Apr 28, 2021
    $57,720,150
    Property ID
    US66-1136883
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 17495 Royalton Rd

    Year built
    1996
    Lot size
    51.19 lot acres
    Property size
    559,128 SF
    Zone code
    SC
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    396-22-001
    APU
    39622001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $40,774,000
      Market price range: $30.5M - $105M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $56,640,000
      Current use
      MEDICAL BUILDING
      $60,755,000
      Change: +7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $49,745,000
      Change: -12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $46,335,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Strongsville
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8197
    Latitude
    41.3128
    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
    $1,472,041
    $2,372,440
    $15,643,920
    $18,016,360
    -
    $6,778,400
    $44,696,900
    $51,475,300

    Comparable in this City

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      23,783 SF

      17578 Pearl Rd, Unit 17908

      SHOPPING CENTER, STRIP CENTER • 23,783 SF
      17578 Pearl Rd, Strongsville, OH 44136-6867
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    • Value Estimation
      $580,000
      15,968 SF

      14122 Pearl Rd, Unit 14206

      SHOPPING CENTER, STRIP CENTER • 15,968 SF
      14122 Pearl Rd, Strongsville, OH 44136-8708
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    • Value Estimation
      $12,905,000
      116,430 SF

      18100 Royalton Rd, Unit 18400

      WHOLESALE OUTLET, DISCOUNT STORE • 116,430 SF
      18100 Royalton Rd, Strongsville, OH 44136-9500
      View Details
    • Value Estimation
      $1,220,000
      15,819 SF

      16160 Pearl Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 15,819 SF
      16160 Pearl Rd, Strongsville, OH 44136-6036
      View Details
    • Value Estimation
      $955,000
      29,900 SF

      8623 Pearl Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 29,900 SF
      8623 Pearl Rd, Strongsville, OH 44136-1643
      View Details
    • Value Estimation
      $1,800,000
      16,700 SF

      14177 Pearl Rd, Unit 14189

      SHOPPING CENTER, STRIP CENTER • 16,700 SF
      14177 Pearl Rd, Strongsville, OH 44136-8709
      View Details

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      Restaurant space with liquor license and outdoor patio for sale.
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    • New
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      Retail building with workshop and break room in Strongsville.
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      2,700 SF

      7-Eleven NNN Investment Opportunity

      NNN leased 7-Eleven in Strongsville, OH with scheduled rent increases.
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      Land with R&D Zoning

      Land available with R&D zoning for various business uses.
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      3,103 SF

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      Strongsville Retail Space For Lease

      Community shopping center with available spaces in Strongsville, Ohio.
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      Retail Space on Pearl Road

      Retail space available in Strongsville with high traffic and income.
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      Retail Space at Lit Intersection

      Retail space available at a high-visibility, lit intersection.
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      24,829 SF

      Southpark Commons Retail Outparcel

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      Retail Space in Strongsville, OH

      Retail space for lease in a high-traffic Strongsville location.
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    Strongsville, OH 44136
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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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    17495 Royalton Rd, Strongsville, OH, 44136

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