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    30700 Aurora Rd Solon, OH 44139-2736
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    Property profile & analytics

    30700 Aurora Rd Solon, OH 44139-2736

    View on Map
    • Warehouses
    • 81,172 SF
    • 5.84 lot acres
    Off-Market
    Property ID
    US66-1543869
    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

    • Warehouses

    Property Details for 30700 Aurora Rd

    Year built
    1994
    Construction
    TYPE NOT SPECIFIED
    Lot size
    5.84 lot acres
    Property size
    81,172 SF
    Zone code
    I-2
    Property type
    Warehouses
    APN
    953-39-011
    APU
    95339011

    Description

    This exceptional industrial property, located at 30700 Aurora Road in Solon, Ohio, offers 81,061 square feet of warehouse and distribution space. The single-story, Class B building, constructed in 1994, sits on a generous 5.84-acre lot and features a 20-foot ceiling height. The property is divisible to a minimum of 36,070 square feet, providing flexibility for various business needs. The building boasts four loading docks—two measuring 8' x 8' and two measuring 8' x 10'—ensuring efficient loading and unloading. Additional drive-in doors can be added to further enhance operational efficiency. The spacious layout includes a column spacing of 55' x 40'. The property benefits from modern upgrades, including new LED lighting with motion sensors for energy efficiency. Its strategic location in Cuyahoga County provides quick access to major transportation arteries, including SR 422, I-271, and I-480, facilitating seamless logistics and distribution. With ample parking for 15+ vehicles and two suites available, this property presents a compelling opportunity for businesses seeking a well-maintained and conveniently located industrial space in the thriving Cleveland submarket. The property is zoned for industrial use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,418,000
      Market price range: $1.10M - $5.27M

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

    Location Insight

    • Map
    • Local Demand
    City
    Solon
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.462
    Latitude
    41.3924
    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
    $63,010
    $157,540
    $534,140
    $691,680
    -
    $450,100
    $1,526,100
    $1,976,200

    Comparable in this City

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      33141 Bainbridge Rd

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      40,040 SF

      29603 Hall St

      WAREHOUSE, STORAGE • 40,040 SF
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      View Details
    • Value Estimation
      $2,515,000
      23,708 SF

      29100 Hall St

      WAREHOUSE, STORAGE • 23,708 SF
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      View Details
    • Value Estimation
      $830,000
      43,345 SF

      31935 Aurora Rd

      WAREHOUSE, STORAGE • 43,345 SF
      31935 Aurora Rd, Solon, OH 44139-2717
      View Details

    Similar Nearby for Sale

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      102,990 SF

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      Climate Controlled Warehouse on Corner Lot

      Corner lot warehouse with climate and humidity control.
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      Retail Space For Sale

      Retail space with long lease term and 8.75% cap rate.
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    • $110,000
      4.60 Acres

      Residential Lot in Solon, Ohio

      4.6-acre residential lot in Solon, OH, build your dream home.
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    • Contact for pricing
      0.17 Acres

      Residential Land in Solon, OH

      Buildable residential land in a desirable Solon neighborhood.
      Willow St, Solon, OH 44139
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Solon Warehouse and Office Space

      Available warehouse and office space with close highway access.
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    • $10 SF/Yr
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      Solon Flex Space Available

      Flex space featuring warehouse, office, and clean room areas.
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      Warehouse Space Available For Sublease

      17,000 SF warehouse space with 2 docks for sublease.
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      175,167 SF

      Solon Warehouse with Office Space

      175,167 SF warehouse with 11,400 SF office space for lease.
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    • Contact for pricing
      1,060 SF

      Solon Warehouse Space Available

      Warehouse space with dock access and 440V power.
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      View Details
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    Solon, OH 44139-2736
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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.

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