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    20800 Harvard Rd Highland Hills, OH 44122-7202
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    Property profile & analytics

    20800 Harvard Rd, Highland Hills, OH 44122-7202

    View on Map
    • Commercial land
    • 34,120 SF
    • 17.45 lot acres
    Off-Market
    Property ID
    US66-3509975
    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
    $5,310,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 20800 Harvard Rd

    Year built
    1999
    Lot size
    17.45 lot acres
    Zone code
    O
    Property type
    Commercial land
    APN
    751-01-027
    APU
    75101027

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 20, 2014 $2,631,150 University Hospitals Health Sy Lsref2 Oreo 2 LLC Grant Deed —
    Nov 20, 2013 — Lsref2 Oreo 2 LLC Gotham King Fee Owner LLC Grant Deed · related $4.9M · Citibank NA
    Mar 20, 2007 — Gotham King Fee Owner LLC Duke Realty Ohio Grant Deed $135M · Lehman Brothers Bank Fsb
    Sep 8, 2004 $8,350,000 Realty Ohio Duke Officemax INC Grant Deed —
    Dec 29, 2000 — Officemax INC Cleveland-cuyahoga County Port Quit Claim Deed · related —
    Dec 18, 1998 — Cleveland Cuyahoga County Port Cleveland City (oh) Quit Claim Deed · related $1.8M · Department Of Development
    — — Ldref2 Oreo 2 LLC — Loan Modification · related $706.7M · Citibank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,800,000
      6.5%
      $4,430,000
      7%
      $4,115,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,642,000
      Market price range: $820k - $5.64M
      AI Estimate
      $5,855,000
      Market price range: $1.73M - $5.86M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $5,755,000
      OFFICE BUILDING
      $3,750,000
      MEDICAL BUILDING
      $3,705,000
      NEIGHBORHOOD: SHOPPING CENTER
      $3,455,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Highland Hills
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5312
    Latitude
    41.449
    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
    $97,657
    $870,730
    $0.00
    $870,730
    -
    $2,487,800
    $0.00
    $2,487,800

    Comparable in this City

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      Millcreek Blvd

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      Chagrin Blvd

      VACANT COMMERCIAL LAND
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      27431 Cedar Rd

      VACANT COMMERCIAL LAND
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    • Value Estimation
      $530,000
      17.74 Acres

      Woodland Rd

      VACANT COMMERCIAL LAND
      Woodland Rd, Beachwood, OH 44122
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Redevelopment Opportunity in Beachwood, Ohio

      9.98 AC site for mixed-use development near I-271.
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      View Details
    • $174,900
      0.46 Acres

      Woodmere Land For Sale

      Flat, rectangular 0.456 acre lot near Eton Chagrin Boulevard.
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      284,963 SF

      Highway Development Opportunity

      Approximately 10-acre commercial land for sale or joint venture.
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      31 Acre Development Site

      31-acre mixed-use development site in high-demand commercial area.
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      123,404 SF

      Prime Commercial Land For Sale

      Located near retail, restaurant, and service amenities.
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      Developable Land I-271 Frontage

      Up to 9.2 acres of shovel-ready land on I-271.
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    Similar Nearby for Lease

    • Contact for pricing

      Land on Chagrin Boulevard

      Land available for ground lease or built-to-suit development.
      24700 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • $24 SF/Yr

      Class A Suburban Office Building

      Class A office building with upgrades and tenant improvements available.
      22901 Millcreek Blvd, Highland Hills, OH 44122
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    • Contact for pricing

      Retail Space in Beachwood

      1,975 SF inline space near I-271 and Chagrin Blvd.
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      6,320 SF

      Beachwood Office Space Available

      Office space for rent in Beachwood, excellent parking ratio.
      25700 Science Park Dr, Beachwood, OH 44122
      View Details
    • $14 SF/Yr
      1,197 SF

      Office Building on Chagrin Boulevard

      Office space for rent near restaurants and shopping.
      23980 N Chagrin Blvd, Beachwood, OH 44122
      View Details
    • $11 SF/Yr
      3,200 SF

      Flex Space in Commerce Park

      Flex space available for lease in Beachwood's Mercantile Park.
      23632 Mercantile Rd, Beachwood, OH 44122
      View Details
    Request Owner's contact information
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    20800 Harvard Rd
    Highland Hills, OH 44122-7202
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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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