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

    2828 Medina Rd Medina, OH 44256-8275

    • Drive through restaurants
    • 4,228 SF
    • 1.49 lot acres
    OFF-MARKET
    Last Sale
    Jun 03, 2021
    $975,000
    Value Estimations
    $920,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1526828
    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

    • Culver's / Restaurant

    Property Details for 2828 Medina Rd

    Year built
    1988
    Construction
    FRAME
    Lot size
    1.49 lot acres
    Property size
    4,228 SF
    Property type
    Drive through restaurants
    APN
    030-11B-05-006
    APU
    03011B05006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $760,000
      ML approach
      $705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,189,000
      Market price range: $348k - $1.34M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $830,000
      Current use
      MEDICAL BUILDING
      $710,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Medina
    County
    Medina
    State
    Ohio
    Longitude
    -81.7892
    Latitude
    41.1357
    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
    $24,806
    $105,410
    $293,010
    $398,420
    -
    $301,180
    $837,170
    $1,138,350

    Comparable in this City

    • Value Estimation
      $1,890,000
      5,279 SF

      1007 Ct St

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,279 SF
      1007 Ct St, Medina, OH 44256-1565
      View Details
    • Value Estimation by Request
      1,500 SF

      3597 Medina Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,500 SF
      3597 Medina Rd, Medina, OH 44256-8182
      View Details
    • Value Estimation by Request
      3,276 SF

      133 Northland Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,276 SF
      133 Northland Dr, Medina, OH 44256-1534
      View Details
    • Value Estimation by Request
      6,987 SF

      5867 Wooster Pike

      DRIVE-THRU RESTAURANT, FAST FOOD • 6,987 SF
      5867 Wooster Pike, Medina, OH 44256-8864
      View Details
    • Value Estimation by Request
      816 SF

      249 Lafayette Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 816 SF
      249 Lafayette Rd, Medina, OH 44256-2333
      View Details
    • Value Estimation by Request
      2,368 SF

      2797 Medina Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,368 SF
      2797 Medina Rd, Medina, OH 44256-8163
      View Details

    Similar Nearby for Sale

    • $695,000
      10,000 SF

      Restaurant with Banquet and Bar

      10,000 SF restaurant with banquet space, bar, and patio.
      5164 Normandy Park Dr, Medina, OH 44256
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    • $695,000
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      Prime Medina Retail/Warehouse

      7,200 SF, 2 buildings, high visibility
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    • $445,000
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      Medina Road Retail Condo Opportunity

      Prime Medina retail space, 3,520 sq ft.
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    • $1,500,000
      13,380 SF

      Medina Retail & Office Complex

      Prime Medina location, 13,380 SF, 3 buildings.
      3900 Pearl Rd, Medina, OH 44256
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    • $695,000
      7,200 SF

      High Visibility Corner Commercial Property

      Two buildings on 1.96 acres with multiple access points.
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    • Contact for pricing
      5.47 Acres

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      Prime Medina location, 5.47 acres.
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    Similar Nearby for Lease

    • Contact for pricing
      6,679 SF

      Freestanding Building Formerly Akronym Brewing

      Freestanding building available for lease or ground lease.
      5121 Buehlers Dr, Medina, OH 44256
      View Details
    • $19 SF/Yr
      2,742 SF

      Freestanding Restaurant/Bar Space Available

      Freestanding restaurant/bar with ample parking and redevelopment potential.
      2341 Pearl Rd, Medina, OH 44256
      View Details
    • $6 SF/Yr
      131,417 SF

      Medina Road Retail Plaza

      High-traffic retail center, 6 suites available
      2749 Medina Rd, Medina, OH 44256
      View Details
    • $14 SF/Yr
      2,400 SF

      Prime Medina Office Space

      2400 sq ft Executive Office, Medina, OH
      285 Reagan Pkwy, Medina, OH 44256
      View Details
    • $22 SF/Yr
      34,767 SF

      Farmers Exchange Retail Space

      Medina County storefront, 3,300 SF available.
      320 Court St, Medina, OH 44256
      View Details
    • Contact for pricing
      37,547 SF

      Retail Space in Medina, Ohio

      Retail property for lease, well-positioned near Medina's commercial hubs.
      831 North Court St, Medina, OH 44256
      View Details
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    2828 Medina Rd
    Medina, OH 44256-8275
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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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