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

    20 Prospect St Berea, OH 44017-2553

    • Grocery and convenience stores
    • 2,312 SF
    • 0.43 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1797257
    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

    • truenorth / Grocery & Convenience Store

    Property Details for 20 Prospect St

    Year built
    1971
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.43 lot acres
    Property size
    2,312 SF
    Zone code
    G
    Property type
    Grocery and convenience stores
    APN
    363-15-057
    APU
    36315057

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Berea
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8576
    Latitude
    41.3665
    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
    $13,288
    $61,640
    $80,890
    $142,530
    -
    $176,100
    $231,100
    $407,200

    Comparable in this City

    • Value Estimation
      $545,000
      3,318 SF

      455 Bagley Rd

      CONVENIENCE STORE • 3,318 SF
      455 Bagley Rd, Berea, OH 44017-1351
      View Details
    • Value Estimation by Request
      3,000 SF

      825 Rocky Riv Dr

      CONVENIENCE STORE • 3,000 SF
      825 Rocky Riv Dr, Berea, OH 44017-1645
      View Details
    • Value Estimation by Request
      1,568 SF

      825 Frnt St

      CONVENIENCE STORE • 1,568 SF
      825 Frnt St, Berea, OH 44017
      View Details
    • Value Estimation by Request
      1,290 SF

      638-00640 Prospect Rd

      CONVENIENCE STORE • 1,290 SF
      638-00640 Prospect Rd, Berea, OH 44017
      View Details
    • Value Estimation by Request
      2,520 SF

      871 Rocky Riv Dr

      CONVENIENCE STORE • 2,520 SF
      871 Rocky Riv Dr, Berea, OH 44017-1664
      View Details
    • Value Estimation
      $560,000
      3,936 SF

      880 Rocky Riv Dr

      CONVENIENCE STORE • 3,936 SF
      880 Rocky Riv Dr, Berea, OH 44017
      View Details

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      Berea Storefront: Prime Retail Space

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      Turnkey Restaurant For Sale

      Freestanding, fully equipped restaurant with ample parking and outdoor patio.
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      3,182 SF

      Retail Property in Berea, Ohio

      Retail property with parking and frontage on two streets.
      799 Front St, Berea, OH 44017
      View Details
    • $275,000
      0.19 Acres

      Berea Commercial Building with Dual Frontage

      Single-story commercial building in Berea with excellent visibility.
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    Similar Nearby for Lease

    • $600 /Mo
      10,019 SF

      Updated Office Space For Rent

      Highly visible, updated office space near Browns training facility.
      505 Front St, Berea, OH 44017
      View Details
    • Contact for pricing
      1,357 SF

      Retail Space in Berea, OH

      Retail spaces available in Giant Eagle anchored shopping center.
      50-60 W Bridge St, Berea, OH 44017
      View Details
    • Contact for pricing
      47,308 SF

      West Valley Plaza Retail Center

      Berea, Ohio: Prime Retail Space Available
      371-447 Bagley Rd, Berea, OH 44017
      View Details
    • $1,300,000
      4,000 SF

      Renovated Office Space Available

      Contiguous office space for rent, renovated in 1989.
      58 Front St, Berea, OH 44017
      View Details
    • Contact for pricing
      72,785 SF

      Industrial Property with Loading Docks

      Multi-tenant industrial property featuring loading docks and ample parking.
      210 Sheldon Rd, Berea, OH 44017
      View Details
    • Contact for pricing
      2,596 SF

      Versatile Flex Space Available

      Adaptable flex space suitable for office or industrial use.
      711 Bagley Rd, Berea, OH 44017
      View Details

    Property Visit Statistics

    • Visits by month
      22.1k
    • Visitors by month
      11.0k
    • Avg Time on site
      5 min
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    20 Prospect St
    Berea, OH 44017-2553
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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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