Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    28000 Shaker Blvd Pepper Pike, OH 44124-5049
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    28000 Shaker Blvd Pepper Pike, OH 44124-5049

    View on Map
    • Office buildings
    • 10,148 SF
    • 2.54 lot acres
    Off-Market
    Property ID
    US66-2264094
    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
    $1,390,000
    Show details
    Cap Rate Potential
    Location Intelligence

    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 28000 Shaker Blvd

    Year built
    1977
    Construction
    TYPE NOT SPECIFIED
    Lot size
    2.54 lot acres
    Property size
    10,148 SF
    Zone code
    U-2
    Property type
    Office buildings
    APN
    872-04-001A
    APU
    87204001A

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,840,000
      6.5%
      $1,695,000
      7%
      $1,575,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,640,000
      Current use
      RESTAURANT
      $1,710,000
      Change: +4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Pepper Pike
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4815
    Latitude
    41.4782
    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
    $0.00
    $88,870
    $486,360
    $575,230
    -
    $253,900
    $1,389,600
    $1,643,500

    Comparable in this City

    • Value Estimation
      $1,485,000
      36,800 SF

      6120 Parkland Blvd

      OFFICE BUILDING • 36,800 SF
      6120 Parkland Blvd, Mayfield Heights, OH 44124-6129
      View Details
    • Value Estimation
      $520,000
      3,056 SF

      1360 Som Ctr Rd

      OFFICE BUILDING • 3,056 SF
      1360 Som Ctr Rd, Mayfield Heights, OH 44124-2108
      View Details
    • Value Estimation
      $2,990,000
      97,902 SF

      6055 Parkland Blvd

      OFFICE BUILDING • 97,902 SF
      6055 Parkland Blvd, Mayfield Heights, OH 44124-4186
      View Details
    • Value Estimation
      $1,370,000
      9,176 SF

      5301 Mayfield Rd

      OFFICE BUILDING • 9,176 SF
      5301 Mayfield Rd, Lyndhurst, OH 44124-2451
      View Details
    • Value Estimation by Request
      1,360 SF

      1880 Som Ctr Rd

      OFFICE BUILDING • 1,360 SF
      1880 Som Ctr Rd, Mayfield Heights, OH 44124-4143
      View Details
    • Value Estimation by Request
      0.16 Acres

      Maplewood Rd

      OFFICE BUILDING • 0.16 Acres
      Maplewood Rd, Mayfield Heights, OH 44124
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Class A Office Building Opportunity

      Two-story office building in Cleveland's strong suburban office market.
      6105 Parkland Blvd, Mayfield Heights, OH 44124
      View Details
    • Contact for pricing

      Prime Commercial Land Opportunity

      Undeveloped land parcel in dense east side suburb.
      5940 Mayfield Rd, Mayfield Heights, OH 44124
      View Details
    • $475,000
      1.10 Acres

      Land Parcel in Pepper Pike

      1.1 acre lot in Pepper Pike, build your dream home.
      unit Sl 3 Carlton Ct, Pepper Pike, OH 44124
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      3649 Lander Rd, Pepper Pike, OH 44124
      View Details
    • $3,854,015

      Freestanding Retail Property For Sale

      Freestanding retail property with drive-thru pharmacy and high visibility.
      1233 Som Center Rd, Cleveland, OH 44124
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prestigious Office Space in Pepper Pike

      Class A office buildings with convenient amenities and highway access.
      30050 Chagrin Blvd, Pepper Pike, OH 44124
      View Details
    • $22 SF/Yr
      94,565 SF

      Class A Suburban Office Building

      Flexible office space in a business park setting.
      6055 Parkland Blvd, Mayfield Heights, OH 44124
      View Details
    • $21 SF/Yr

      Class A Office Space Available

      Professional office setting near I-271, various layouts available.
      6105 Parkland Blvd, Mayfield Hts, OH 44124
      View Details
    • Contact for pricing

      Office Spaces Available For Rent

      Office spaces available, ranging from 230 to 1,564 SqFt.
      30559 Pinetree Rd, Pepper Pike, OH 44124
      View Details
    • Contact for pricing

      Retail Space Near Eastgate Center

      Retail space for lease near major shopping and hospital.
      1253 Som Center Rd, Mayfield Heights, OH 44124
      View Details
    • Contact for pricing
      1,629 SF

      Office Space on Mayfield Road

      Office spaces available with customizable suites and ample parking.
      5035 Mayfield Rd, Cleveland, OH 44124
      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.
    28000 Shaker Blvd
    Pepper Pike, OH 44124-5049
    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.
    Sign Up Successful!
    You now have access to more from Realmo!