Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    23311 Harvard Rd Beachwood, OH 44122-6232
    Back to Search
    Property profile & analytics

    23311 Harvard Rd, Beachwood, OH 44122-6232

    View on Map
    • Assisted living facilities
    • 35,640 SF
    • 4.18 lot acres
    Off-Market
    Property ID
    US66-4318898
    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
    $1,045,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Assisted living facilities

    Property Details for 23311 Harvard Rd

    Year built
    2015
    Construction
    WOOD
    Lot size
    4.18 lot acres
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    742-39-002
    APU
    74239002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 24, 2020 — Beachwood Care Group LLC — Deed · related $8.3M · Synovus Bk
    Aug 23, 2013 — Beachwood Care Group LLC — Grant Deed · related $8M · Keybank USA
    — — Beachwood Care Group LLC — Deed Of Trust · related $8.3M · Synovus Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $790,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,300,000
      Market price range: $409k - $2.27M

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

    Location Insight

    • Map
    • Local Demand
    City
    Beachwood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5127
    Latitude
    41.4516
    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
    $178,537
    $302,580
    $1,412,430
    $1,715,010
    -
    $864,500
    $4,035,500
    $4,900,000

    Comparable in this City

    • Value Estimation
      $3,445,000
      60,512 SF

      23900 Chagrin Blvd

      HOMES (RETIRED, NURSING)
      23900 Chagrin Blvd, Beachwood, OH 44122-5511
      View Details
    • Value Estimation
      $2,570,000
      133,300 SF

      23611 Harvard Rd

      HOMES (RETIRED, NURSING)
      23611 Harvard Rd, Beachwood, OH 44122-6203
      View Details
    • Value Estimation
      $5,395,000
      0.06 Acres

      Judson Dr

      HOMES (RETIRED, NURSING)
      Judson Dr, Cleveland, OH 44122
      View Details
    • Value Estimation
      $1,835,000
      57,000 SF

      27080 Cedar Rd

      HOMES (RETIRED, NURSING)
      27080 Cedar Rd, Beachwood, OH 44122
      View Details
    • Value Estimation
      $11,890,000
      150,293 SF

      27080 Cedar Rd

      HOMES (RETIRED, NURSING)
      27080 Cedar Rd, Beachwood, OH 44122
      View Details
    • Value Estimation
      $11,735,000
      131,581 SF

      27100 Cedar Rd

      HOMES (RETIRED, NURSING)
      27100 Cedar Rd, Beachwood, OH 44122-1109
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,684 SF

      Occupied Retail Center For Sale

      Fully occupied retail center with strong tenant mix and location.
      27100 Chagrin Blvd, Orange, OH 44122
      View Details
    • New
      $389,500
      0.13 Acres

      Shaker Heights Two-Family Home

      Two-family property with character, ideal for owner-occupancy or investment.
      3646 Lynnfield Rd, Shaker Heights, OH 44122
      View Details
    • $3,450,000
      40,700 SF

      Former Steinmart Anchor Store Opportunity

      40,700 SF retail space on 3.21 acres for sale.
      23949 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing

      31 Acre Development Site

      31-acre mixed-use development site in high-demand commercial area.
      Millcreek Blvd, Highland Hills, OH 44122
      View Details
    • Contact for pricing
      19,622 SF

      Beachwood Office Complex For Sale

      Well-maintained office complex in established commerce park.
      23775 Commerce Park, Beachwood, OH 44122
      View Details
    • New
      $229,000
      0.39 Acres

      Buildable Cul-de-Sac Homesite

      Buildable wooded lot on a private cul-de-sac with walk-out basement potential and HOA-supported common area maintenance.
      1906 Woodbrook Ln, Lyndhurst, OH 44122
      View Details

    Similar Nearby for Lease

    • $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
      View Details
    • Contact for pricing

      Retail Space in Beachwood

      1,975 SF inline space near I-271 and Chagrin Blvd.
      24055 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      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
    • $16 SF/Yr
      12,263 SF

      Turnkey Office Space Available

      Turnkey office spaces totaling 12,263 SF available for lease.
      23600 Commerce Park Rd, Beachwood, OH 44122
      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.
    23311 Harvard Rd
    Beachwood, OH 44122-6232
    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

    Thank You for Inquiry
    23311 Harvard Rd, Beachwood, OH, 44122
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!