Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2185 Warrensville Ctr Rd02195 University Heights, OH 44118-3155

    • Retail space
    • 5,376 SF
    • 1.30 lot acres
    OFF-MARKET
    Last Sale
    Sep 23, 2024
    $54,481,395
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6100702
    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

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2185 Warrensville Ctr Rd02195

    Year built
    2003
    Lot size
    1.30 lot acres
    Property size
    5,376 SF
    Zone code
    U-9
    Property type
    Retail space
    APN
    721-01-147
    APU
    72101147

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market
      ML approach
      Off market

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

    Location Insight

    • Map
    • Local Demand
    City
    University Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5359
    Latitude
    41.4998
    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
    $94,776
    $198,210
    $441,810
    $640,020
    -
    $566,300
    $1,262,300
    $1,828,600

    Comparable in this City

    • Value Estimation
      $875,000
      8,107 SF

      2118 Taylor Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,107 SF
      2118 Taylor Rd, Cleveland Heights, OH 44118-2607
      View Details
    • Value Estimation by Request
      0.16 Acres

      Redwood Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.16 Acres
      Redwood Rd, Cleveland Heights, OH 44118
      View Details
    • Value Estimation by Request
      1,890 SF

      2190 Taylor Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,890 SF
      2190 Taylor Rd, Cleveland Heights, OH 44118-3005
      View Details
    • Value Estimation by Request
      2,280 SF

      2160 Taylor Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,280 SF
      2160 Taylor Rd, Cleveland Heights, OH 44118-3013
      View Details
    • Value Estimation by Request
      2,616 SF

      2078 Taylor Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,616 SF
      2078 Taylor Rd, Cleveland Heights, OH 44118-2657
      View Details
    • Value Estimation
      $700,000
      7,392 SF

      3451 Fairmount Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,392 SF
      3451 Fairmount Blvd, Cleveland Heights, OH 44118-4265
      View Details

    Similar Nearby for Sale

    • $30,000
      Pending

      University Heights Buildable Lot

      Buildable lot with garden house in University Heights, Ohio.
      3874 Washington Blvd, Cleveland, OH 44118
      View Details
    • $290,000
      1,889 SF

      Cleveland Heights Multifamily Investment Opportunity

      Four-bedroom home with income potential in a walkable neighborhood.
      1686 Lee Rd, Cleveland, OH 44118
      View Details
    • $175,000
      2,864 SF

      East Cleveland Multifamily Investment Opportunity

      Three-unit property with income potential near University Circle.
      1526 Eddington Rd, Cleveland, OH 44118
      View Details
    • $309,900
      3,278 SF

      Updated Triplex in Cleveland Heights

      Well-maintained triplex with updated units, new roof, and plumbing.
      1676 Glenmont Rd, Cleveland Heights, OH 44118
      View Details
    • $297,000
      3,696 SF

      Spacious Cleveland Heights Income Property

      Three-story duplex with rental income potential in Cleveland Heights.
      1558 Ivydale Rd, Cleveland Heights, OH 44118
      View Details
    • New
      $314,999
      3,474 SF

      Updated Duplex in Cleveland Heights

      Income-generating duplex, ideal for investors or owner-occupants.
      3423 Beechwood Ave, Cleveland Heights, OH 44118
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Retail Space in Cleveland Heights

      Retail space available in a busy Cleveland Heights neighborhood.
      1800-1836 Coventry Rd, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing
      1,900 SF

      Coventry Retail District Plaza Space

      Retail space available in the Coventry Retail District.
      1771-1791 Coventry Rd, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing
      5,142 SF

      Carroll Commons Retail Space

      Shaker Heights retail space, high traffic, prime location.
      20601 Fairmount Blvd, Shaker Heights, OH 44118
      View Details
    • Contact for pricing
      125,000 SF

      Retail Outlot in Cleveland Heights

      Outlot for lease or sale in busy shopping center.
      3606 Mayfield Rd, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing
      317,266 SF

      Oakwood Commons Retail Center

      Prime South Euclid Shopping Center Space Available
      1838 Warrensville Ctr Rd, South Euclid, OH 44118
      View Details
    • Contact for pricing
      55,000 SF

      Severance Town Center Retail Space

      125,000 SF retail space in Severance Town Center.
      3452-3640 Mayfield Rd, Cleveland Heights, OH 44118
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2185 Warrensville Ctr Rd02195
    University Heights, OH 44118-3155
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.