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

    21100 Southgate Park Blvd Maple Heights, OH 44137

    • Medical offices
    • 38,280 SF
    • 1.90 lot acres
    For Lease
    View listing
    $11 SF/Yr
    Last Sale
    Oct 23, 2023
    $1,967,766
    Value Estimations
    $1,925,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-0161074
    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

    • Medical offices

    Property Details for 21100 Southgate Park Blvd

    Year built
    1960
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.90 lot acres
    Property size
    38,280 SF
    Zone code
    GC
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    783-22-004
    APU
    78322004

    Description

    This exceptional five-story, Class B office building, located at 21100 Southgate Park Blvd in Maple Heights, Ohio, offers 96,232 square feet of versatile space ideal for medical, traditional, or executive office uses. Built in 1960 and situated on 3.6 acres, the property boasts a single building with ample parking (291 spaces) and convenient elevator access. Its strategic location in the Cleveland East submarket, specifically the Maple Heights, Warrensville Heights, and Garfield Heights cluster, provides immediate access to the I-480 and I-271 interchange, ensuring easy commutes for employees and clients. The building is currently available for multiple tenants and features a private entrance. While a full build-out is required, the below-market rent makes this a highly attractive opportunity. This property presents a unique chance to establish a presence in a thriving Cuyahoga County location. The property's address is 21100 Southgate Park Blvd, Maple Heights, OH 44137.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,835,000
      ML approach
      $1,925,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,235,000
      Market price range: $2.24M - $6.31M
      AI Estimate
      $1,303,000
      Market price range: $1.30M - $4.57M

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

    Location Insight

    • Map
    • Local Demand
    City
    Maple Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5314
    Latitude
    41.414
    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
    $22,340
    $85,300
    $118,410
    $203,710
    -
    $243,700
    $338,300
    $582,000

    Comparable in this City

    • Value Estimation by Request
      2.90 Acres

      Southgate Park Blvd

      MEDICAL BUILDING • 2.90 Acres
      Southgate Park Blvd, Maple Heights, OH 44137
      View Details
    • Value Estimation by Request
      14,384 SF

      20676 Southgate Park Blvd

      MEDICAL BUILDING • 14,384 SF
      20676 Southgate Park Blvd, Maple Heights, OH 44137-2953
      View Details
    • Value Estimation by Request
      3.24 Acres

      Hazelwood Ct

      HOMES (RETIRED, NURSING) • 3.24 Acres
      Hazelwood Ct, Maple Heights, OH 44137
      View Details
    • Value Estimation by Request
      5,600 SF

      20508 Southgate Park Blvd

      OFFICE BUILDING • 5,600 SF
      20508 Southgate Park Blvd, Maple Heights, OH 44137-2900
      View Details
    • Value Estimation by Request
      2,400 SF

      15001 Turney Rd

      OFFICE BUILDING • 2,400 SF
      15001 Turney Rd, Maple Heights, OH 44137
      View Details
    • Value Estimation
      $610,000
      4,488 SF

      14250 Industrial Ave S Ste, Unit 102

      CONDOMINIUM OFFICES • 4,488 SF
      14250 Industrial Ave S Ste, Maple Heights, OH 44137-3260
      View Details

    Similar Nearby for Sale

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      Maple Heights Land For Sale

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    • $30,000
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      Vacant Land in Maple Heights

      Vacant land ready for development in a thriving community.
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    Similar Nearby for Lease

    • $11 SF/Yr
      96,232 SF

      Southgate Park Office Building

      Prime Medical/Office Space in Maple Heights
      21100 Southgate Park Blvd, Maple Heights, OH 44137
      View Details
    • Contact for pricing
      5,800 SF

      Industrial Space with Office

      5,800 SF flex space with I-480 and I-77 access.
      14600 Industrial Ave South, Maple Heights, OH 44137
      View Details
    • $6 SF/Yr
      8,000 SF

      Freestanding Commercial Shop Building

      Commercial shop building with dock, drive-in door, and storage.
      14300 North Industrial Ave, Maple Heights, OH 44137
      View Details
    • Contact for pricing
      297,991 SF

      Industrial Facility with Rail Access

      Secured industrial property featuring rail access and on-site service shop.
      5801 Lee Rd, Maple Heights, OH 44137
      View Details
    • Contact for pricing
      23,181 SF

      Maple Heights Industrial Property For Rent

      Industrial property in Maple Heights with rail access and secured facility.
      16625 Granite Rd, Maple Heights, OH 44137
      View Details
    • $3,600 /Mo
      31,276 SF

      High-Visibility Retail Space Available

      Prime retail space on high-traffic corridor, suitable for various businesses.
      5250 Northfield Rd, Maple Heights, OH 44137
      View Details
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    Maple Heights, OH 44137
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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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