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    3070 Medina Rd Medina, OH 44256
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    3070 Medina Rd, Medina, OH 44256

    View on Map
    • Drive through restaurants
    • 6,047 SF
    • 2.26 lot acres
    For Lease
    $580,000
    View Listing →
    Medina Road Retail Development Site For Lease
    $580,000

    Medina Road Retail Development Site

    Retail development opportunity with high visibility on Medina Road.

    3070 Medina Rd, Medina, OH 44256
    View Listing
    Property ID
    US66-5308464
    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
    $580,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Starbucks / Cafe & Coffee Shop
    • Chipotle Mexican Grill / Take-out & Catering / Catering Service

    Property Details for 3070 Medina Rd

    Year built
    2017
    Lot size
    2.26 lot acres
    Property type
    Drive through restaurants
    APN
    030-11B-09-138
    APU
    03011B09138

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 30, 2018 — Shoppes At Medina Ltd — Deed · related $2.2M · Miscellaneous Ins Co
    Oct 22, 2018 — Shoppes At Medina Ltd Shoppes At Exchange Ltd Quit Claim Deed —
    Jun 15, 2018 $3,680,000 Shoppes At Exchange Ltd Montville Investors LLC Limited Warranty Deed $525k · Ann Jordan
    — — Shoppes At Medina Ltd — Deed Of Trust · related $2.2M · Miscellaneous Ins Co

    Description

    This exceptional retail opportunity is situated on State Route 18 in Medina, Ohio, offering unparalleled visibility and accessibility from Interstate 71. The property consists of two distinct parcels ideal for development. One parcel is a 2.5-acre outlot, perfectly suited for a standalone retail building, complementing the existing successful businesses in the development. The second parcel encompasses 11.9 acres, presenting a significant development opportunity for a larger-scale retail project. This thriving retail center already boasts a strong tenant mix, including established national brands such as Starbucks, Chipotle, and GetGo, with WetGo slated to open soon. The location benefits from high daily traffic counts due to its strategic placement near the Interstate 71 interchange, ensuring maximum exposure for any new business. This is a rare chance to secure a prominent position within a rapidly growing retail hub in Medina County. The property's location provides easy access for customers and employees alike, making it an attractive proposition for a variety of retail uses. The 2-acre land parcels offer significant potential for immediate development or long-term investment. This is an exceptional opportunity to capitalize on the robust growth and high visibility of this prime Medina location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $756,000
      Market price range: $350k - $756k

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

    Location Insight

    • Map
    • Local Demand
    City
    Medina
    County
    Medina
    State
    Ohio
    Longitude
    -81.7977
    Latitude
    41.1356
    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
    $45,810
    $282,210
    $697,790
    $980,000
    -
    $806,320
    $1,993,680
    $2,800,000

    Comparable in this City

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    • Value Estimation by Request
      3,018 SF

      3067 Medina Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
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      1,944 SF

      3296 Medina Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      3296 Medina Rd, Medina, OH 44256-8198
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    • Value Estimation by Request
      2,368 SF

      2797 Medina Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      2797 Medina Rd, Medina, OH 44256-8163
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      2,060 SF

      800 Lafayette Rd

      DRIVE-THRU RESTAURANT, FAST FOOD
      800 Lafayette Rd, Medina, OH 44256-2413
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    • Value Estimation by Request
      3,583 SF

      1209 Ct St

      DRIVE-THRU RESTAURANT, FAST FOOD
      1209 Ct St, Medina, OH 44256-1581
      View Details

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    Medina, OH 44256
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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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    3070 Medina Rd, Medina, OH, 44256
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