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

    3283 Richmond Rd Beachwood, OH 44122

    • Office buildings
    • 7,098 SF
    • 0.69 lot acres
    OFF-MARKET
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-5752062
    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

    • Office buildings

    Property Details for 3283 Richmond Rd

    Year built
    2009
    Construction
    WOOD
    Lot size
    0.69 lot acres
    Property size
    7,098 SF
    Zone code
    U-8A
    Property type
    Office buildings
    APN
    742-18-007
    APU
    74218007

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,137,000
      Market price range: $429k - $1.14M
      AI Estimate
      $613,000
      Market price range: $226k - $613k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $780,000
      Current use
      RESTAURANT
      $1,195,000
      Change: +53% Conversion: Moderate
      MEDICAL BUILDING
      $770,000
      Change: -1% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $720,000
      Change: -8% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $630,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Beachwood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4972
    Latitude
    41.4691
    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
    $32,332
    $104,830
    $296,630
    $401,460
    -
    $299,500
    $847,500
    $1,147,000

    Comparable in this City

    • Value Estimation
      $31,630,000
      201,891 SF

      25900 Science Park Dr

      OFFICE BUILDING • 201,891 SF
      25900 Science Park Dr, Beachwood, OH 44122-7318
      View Details
    • Value Estimation
      $10,755,000
      100,632 SF

      23700 Chagrin Blvd

      OFFICE BUILDING • 100,632 SF
      23700 Chagrin Blvd, Beachwood, OH 44122-5506
      View Details
    • Value Estimation
      $42,505,000
      512,710 SF

      25080 Richmond Rd, Unit 25

      OFFICE BUILDING • 512,710 SF
      25080 Richmond Rd, Beachwood, OH 44122
      View Details
    • Value Estimation
      $5,750,000
      45,720 SF

      3300 Enterprise Pkwy

      OFFICE BUILDING • 45,720 SF
      3300 Enterprise Pkwy, Beachwood, OH 44122-7200
      View Details
    • Value Estimation
      $5,900,000
      16,005 SF

      28790 Chagrin Blvd

      OFFICE BUILDING • 16,005 SF
      28790 Chagrin Blvd, Woodmere, OH 44122-4638
      View Details
    • Value Estimation
      $795,000
      18,202 SF

      3570 Warrensville Ctr Rd

      OFFICE BUILDING • 18,202 SF
      3570 Warrensville Ctr Rd, Shaker Heights, OH 44122-5288
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      128,729 SF

      Iconic Medical Office Building

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      15,000 SF

      Modern Office Space For Sale

      Class A office space with modern design and premium amenities.
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      Centrally located Beachwood office building with strong tenant mix.
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    • $249,000
      0.39 Acres

      Buildable Homesite in Woods of Lyndhurst

      Private cul-de-sac lot for ranch or two-story home.
      1906 Woodbrook Ln, Lyndhurst, OH 44122
      View Details
    • Contact for pricing

      31 Acre Development Site

      31-acre mixed-use development site in high-demand commercial area.
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    • $3,450,000
      40,700 SF

      Former Steinmart Anchor Store Opportunity

      40,700 SF retail space on 3.21 acres for sale.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,000 SF

      Beachwood Office Space For Lease

      Office building with ample parking and easy highway access.
      23250 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • $24 SF/Yr

      Class A Suburban Office Building

      Class A office building with upgrades and tenant improvements available.
      22901 Millcreek Blvd, Highland Hills, OH 44122
      View Details
    • $14 SF/Yr

      Office Building on Chagrin Boulevard

      Office space for rent near restaurants and shopping.
      23980 N Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      191 SF

      Beachwood Office Building For Sale

      Modern office building in Beachwood with high occupancy.
      24300 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space available for lease at 25101 Chagrin Blvd.
      25101 Chagrin Blvd, Beachwood, OH 44122
      View Details
    • Contact for pricing

      Luxury Retail and Dining District

      Upscale retail and dining in Northeast Ohio's premier fashion district.
      28601 Chagrin Blvd, Woodmere, OH 44122
      View Details
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    3283 Richmond Rd
    Beachwood, OH 44122
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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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