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

    3377 Warrensville Ctr Rd Shaker Heights, OH 44122-5222

    • Manufacturing properties
    • 14,000 SF
    • 0.93 lot acres
    OFF-MARKET
    Value Estimations
    $1,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2527199
    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

    • 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 3377 Warrensville Ctr Rd

    Year built
    2018
    Lot size
    0.93 lot acres
    Property size
    14,000 SF
    Zone code
    O
    Property type
    Manufacturing properties
    APN
    736-12-011
    APU
    73612011

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $960,000
      6.5%
      $885,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,072,000
      Market price range: $290k - $1.07M
      AI Estimate
      $1,360,000
      Market price range: $270k - $1.36M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,540,000
      MEDICAL BUILDING
      $1,520,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,420,000
      AUTO REPAIR, GARAGE
      $1,245,000
      COMMERCIAL (GENERAL)
      $1,160,000
      APARTMENT HOUSE (5+ UNITS)
      $1,035,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Shaker Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5354
    Latitude
    41.4679
    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
    $46,036
    $112,910
    $219,100
    $332,010
    -
    $322,600
    $1,252,000
    $1,574,600

    Comparable in this City

    • Value Estimation
      $3,990,000
      100,480 SF

      23533 Mercantile Rd

      MANUFACTURING (LIGHT) • 100,480 SF
      23533 Mercantile Rd, Beachwood, OH 44122-5959
      View Details
    • Value Estimation
      $1,075,000
      13,600 SF

      23757 Commerce Park

      MANUFACTURING (LIGHT) • 13,600 SF
      23757 Commerce Park, Beachwood, OH 44122-5825
      View Details
    • Value Estimation
      $2,575,000
      36,569 SF

      23200 Commerce Park

      MANUFACTURING (LIGHT) • 36,569 SF
      23200 Commerce Park, Beachwood, OH 44122-5802
      View Details
    • Value Estimation
      $6,080,000
      129,907 SF

      1 Lyman Cir

      WAREHOUSE, STORAGE • 129,907 SF
      1 Lyman Cir, Shaker Heights, OH 44122-2110
      View Details
    • Value Estimation by Request
      1,040 SF

      20015 Harvard Ave

      WAREHOUSE, STORAGE • 1,040 SF
      20015 Harvard Ave, Warrensville Heights, OH 44122-6804
      View Details
    • Value Estimation
      $1,730,000
      102,528 SF

      23355 Mercantile Rd

      WAREHOUSE, STORAGE • 102,528 SF
      23355 Mercantile Rd, Beachwood, OH 44122-5909
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      31.00 Acres

      Chagrin Highlands Development Site

      31-Acre Mixed-Use Land in Highland Hills, OH
      0 Millcreek Blvd, Highland Hills, OH 44122
      View Details
    • $3,866,500
      40,700 SF

      Anchor Store Box Opportunity

      Rare retail opportunity in prime Northern Ohio market.
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      Shaker Heights Three-Story Duplex

      Classic Shaker Heights duplex with six bedrooms and sunporches.
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    • Contact for pricing
      3.00 Acres

      Richmond Road Development Land

      3-Acre Development Site in Warrensville Heights
      4844 Richmond Rd, Warrensville Heights, OH 44122
      View Details
    • $86,000
      1,594 SF

      Spacious 3-Bedroom Ranch Condo

      Rare 3-bedroom condo with modern updates and included in-unit laundry.
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    • $339,900
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      Shaker Heights Triplex Opportunity

      Cash flowing Shaker Heights triplex, perfect for owner occupant.
      3557 Lynnfield Rd, Shaker Heights, OH 44122
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    Similar Nearby for Lease

    • $11 SF/Yr
      3,200 SF

      Flex Space in Commerce Park

      Flex space available for lease in Beachwood's Mercantile Park.
      23632 Mercantile Rd | Beachwood, Beachwood, OH 44122
      View Details
    • $15 SF/Yr
      24,000 SF

      Beachwood Flex Space For Rent

      Flex space in Beachwood, Ohio, with excellent highway access.
      23350 Mercantile Rd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      53,520 SF

      Beachwood Flex Building For Rent

      53,520 RSF flex building in the Chagrin Corridor.
      23400-23440 Commerce Park Rd, Beachwood, OH 44122
      View Details
    • Contact for pricing
      44,236 SF

      Beachwood Flex Building For Rent

      Flex building in Beachwood with individual entrances and ample parking.
      24000 Mercantile Rd | Beachwood, Beachwood, OH 44122
      View Details
    • $7 SF/Yr
      12,560 SF

      Flexible Suites in Chagrin Corridor

      Flexible use suites with ample parking and highway access.
      23945 Mercantile Rd, Beachwood, OH 44122
      View Details
    • $11 SF/Yr
      2,450 SF

      Mercantile Park Flex Space

      Flex space available for rent in Beachwood, Ohio.
      23600 Mercantile Rd, Beachwood, OH 44122
      View Details
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    3377 Warrensville Ctr Rd
    Shaker Heights, OH 44122-5222
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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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