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

    25440 Miles Rd Bedford Heights, OH 44146-1323

    • Commercial land
    • 8,844 SF
    • 0.56 lot acres
    OFF-MARKET
    Value Estimations
    $680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2078551
    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

    • Commercial land

    Property Details for 25440 Miles Rd

    Year built
    1955
    Lot size
    0.56 lot acres
    Property size
    8,844 SF
    Zone code
    B-2
    Property type
    Commercial land
    APN
    791-03-012
    APU
    79103012

    Description

    This exceptional 0.8-acre commercial land parcel presents a unique investment opportunity in Bedford Heights, Ohio. Located at the highly visible corner of Miles and Richmond Roads, this shovel-ready site boasts impressive daily traffic counts exceeding 31,000 vehicles, with over 13,000 passing directly in front. The property's strategic location offers convenient access to major highways, including I-271 and I-480, ensuring excellent connectivity for businesses and customers. The area surrounding the property is densely populated, with over 60,000 employees within a three-mile radius, providing a substantial potential customer base. This prime location, combined with its readily developable nature, makes it ideal for a wide range of commercial ventures. The property's address is 25440 Miles Road, Bedford Heights, OH 44146, situated in Cuyahoga County. This is a rare opportunity to acquire a highly visible and accessible commercial lot in a thriving area with significant traffic volume and a large workforce nearby. Don't miss out on this chance to establish your business in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $902,000
      Market price range: $903k - $1.53M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $735,000
      Current use
      MEDICAL BUILDING
      $960,000
      Change: +31% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $895,000
      Change: +22% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $655,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Bedford Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.499
    Latitude
    41.4239
    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
    $4,868
    $47,110
    $0.00
    $47,110
    -
    $134,600
    $0.00
    $134,600

    Comparable in this City

    • Value Estimation by Request
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      Bonnieview Dr

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      23600 Wood St

      VACANT COMMERCIAL LAND • 1,360 SF
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      Rockside Rd

      VACANT COMMERCIAL LAND • 3.00 Acres
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      23930 Aurora Rd

      VACANT COMMERCIAL LAND • 1,140 SF
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    Similar Nearby for Sale

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      4.98 acres of land with access to freeways.
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    • $50,000
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      Corner lot in Bedford, Ohio, with utilities at street.
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      Residential Land in Bedford, OH

      Building lot in Bentbrook Community with city services and tax abatement.
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    • $43,500
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      Residential Land in Bedford, OH

      Building lot in Bedford, bring your own builder, no HOA.
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    • $68,000
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      Bedford Land for Development

      6.73 acres available in Bedford, Ohio for development.
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    Similar Nearby for Lease

    • $0.67 SF/Yr
      27,007 SF

      Bedford Heights Commercial Land

      0.62-acre commercial land for lease.
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    • Contact for pricing
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      Access Point II: Prime Ohio Space

      110,000 SF Office/Warehouse, Fully Leased
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      View Details
    • $450 /Mo
      14,810 SF

      Office Space in Mixed-Use Building

      Office space for rent in Bedford, Ohio.
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      View Details
    • New
      $1,250 /Mo
      30,453 SF

      Retail and Office Lease Opportunity

      High-visibility retail and office space available for lease in Bedford.
      403 Broadway Ave, Bedford, OH 44146
      View Details
    • $6 SF/Yr
      13,500 SF

      Bedford Heights Industrial Space Available

      13,500 SF industrial space for lease in Bedford Heights.
      26820 Fargo Ave, Bedford Heights, OH 44146
      View Details
    • Contact for pricing
      375,000 SF

      Miles Road Industrial Warehouse

      375,000 SF Warehouse, Multi-Tenant Available
      26300 Miles Rd, Bedford Heights, OH 44146
      View Details
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    25440 Miles Rd
    Bedford Heights, OH 44146-1323
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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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