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

    20914 Ctr Rdg Rd Rocky River, OH 44116

    • Warehouses
    • 3,835 SF
    • 0.62 lot acres
    OFF-MARKET
    Last Sale
    Jul 29, 2021
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1532240
    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

    • Warehouses

    Property Details for 20914 Ctr Rdg Rd

    Year built
    1954
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.62 lot acres
    Property size
    3,835 SF
    Zone code
    LB
    Property type
    Warehouses
    APN
    304-07-003
    APU
    30407003

    Description

    This exceptional 3,835-square-foot retail property, located at 20914 Center Ridge Rd in Rocky River, Ohio, presents a unique investment opportunity. Currently vacant, this freestanding building offers significant potential for a variety of businesses. Situated in a thriving shopping district directly across from Westgate Mall, the property benefits from high visibility and substantial foot traffic. The building, constructed in 1954, features a newly installed roof and a full basement, offering ample storage or potential for subleasing. The 0.62-acre lot ensures ample space and parking. Rocky River boasts a highly desirable demographic, with a median home value exceeding $300,000 and a median household income surpassing $90,000—significantly higher than county averages. This prime location is ideal for restaurants, boutiques, or other high-end retail establishments seeking to establish a presence in an affluent community. The asking price is $1,550,000, representing a 4.00% cap rate and a price per square foot of $404.17. This is a NNN lease property. The unique design ensures high visibility, making it an attractive option for businesses seeking maximum exposure. This property offers a rare chance to capitalize on a strong market and establish a successful enterprise in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $244,000
      Market price range: $96.5k - $331k
      AI Estimate
      $341,000
      Market price range: $75.0k - $427k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $200,000
      Current use
      COMMERCIAL (GENERAL)
      $360,000
      Change: +80% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $350,000
      Change: +75% Conversion: Easy
      RETAIL STORES
      $255,000
      Change: +28% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Rocky River
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8515
    Latitude
    41.4625
    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
    $9,446
    $94,010
    $2,910
    $96,920
    -
    $268,600
    $8,300
    $276,900

    Comparable in this City

    • Value Estimation
      $250,000
      4,668 SF

      19150 192nd St

      WAREHOUSE, STORAGE • 4,668 SF
      19150 192nd St, Rocky River, OH 44116
      View Details
    • Value Estimation
      $520,000
      19,836 SF

      19525 Hilliard Blvd

      WAREHOUSE, STORAGE • 19,836 SF
      19525 Hilliard Blvd, Rocky River, OH 44116-4750
      View Details
    • Value Estimation
      $470,000
      1,584 SF

      20140 Detroit Rd

      WAREHOUSE, STORAGE • 1,584 SF
      20140 Detroit Rd, Rocky River, OH 44116-2421
      View Details
    • Value Estimation
      $12,535,000
      140,166 SF

      3360 Linden Rd

      WAREHOUSE, STORAGE • 140,166 SF
      3360 Linden Rd, Rocky River, OH 44116
      View Details
    • Value Estimation
      $350,000
      14,618 SF

      20145 Lk Rd

      WAREHOUSE, STORAGE • 14,618 SF
      20145 Lk Rd, Rocky River, OH 44116-1514
      View Details
    • Value Estimation
      $920,000
      11,256 SF

      19640 Ctr Rdg Rd

      WAREHOUSE, STORAGE • 11,256 SF
      19640 Ctr Rdg Rd, Rocky River, OH 44116-3635
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      95,856 SF

      Plaza West: Rocky River Office Building

      Prime Rocky River Office, High Occupancy
      20222 Center Ridge Rd, Rocky River, OH 44116
      View Details
    • $2,600,000
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      Rocky River office building, redevelopment potential.
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    • $189,000
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      Rocky River Land Opportunity

      Land in desirable Cleveland Yacht Club Basin neighborhood, Rocky River.
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      View Details
    • Contact for pricing
      0.07 Acres

      Rocky River Vacant Land Parcel

      Vacant land in Cleveland Yacht Club Basin neighborhood of Rocky River.
      Riverdale Dr, Rocky River, OH 44116
      View Details
    • $99,999
      Pending

      Rocky River Buildable Land

      Buildable 0.362-acre lot in Rocky River, backing to Metroparks.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      242,385 SF

      Westwood Town Center Retail Space

      Prime Rocky River Power Center; High Traffic Area
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    • Contact for pricing
      88,621 SF

      River Square Retail Center

      Rocky River, OH Shopping Center Opportunity
      19801 Detroit Rd, Rocky River, OH 44116
      View Details
    • $17 SF/Yr
      70,000 SF

      Plaza West Executive Suites

      Rocky River Office Space Available
      20220 Center Ridge Rd, Rocky River, OH 44116
      View Details
    • $12 SF/Yr
      51,000 SF

      20575 Center Ridge Rd

      Office space • 51,000 SF
      20575 Center Ridge Rd, Rocky River, OH 44116
      View Details
    • Contact for pricing
      7,845 SF

      Prime Retail Space, Detroit Road

      New development; multiple suites available.
      19350 Detroit Rd, Rocky River, OH 44116
      View Details
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    Rocky River, OH 44116
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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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