Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    35040 Chardon Rd Willoughby Hills, OH 44094-9006

    • Medical Office Space
    • 36,018 SF
    • 2.01 lot acres
    OFF-MARKET
    Value Estimations
    $850,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2251040
    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 35040 Chardon Rd

    Year built
    1995
    Lot size
    2.01 lot acres
    Property size
    36,018 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    31-A-004-0-00-023-0
    APU
    31A0040000230

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $684,000
      Market price range: $565k - $2.40M

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

    Location Insight

    • Map
    • Local Demand
    City
    Willoughby Hills
    County
    Lake
    State
    Ohio
    Longitude
    -81.4379
    Latitude
    41.5858
    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
    $31,767
    $80,310
    $324,850
    $405,160
    -
    $229,450
    $928,130
    $1,157,580

    Comparable in this City

    • Value Estimation by Request
      1,984 SF

      35717 Euclid Ave

      MEDICAL BUILDING • 1,984 SF
      35717 Euclid Ave, Willoughby, OH 44094-4618
      View Details
    • Value Estimation
      $3,565,000
      46,531 SF

      36100 Euclid Ave

      MEDICAL BUILDING • 46,531 SF
      36100 Euclid Ave, Willoughby, OH 44094-4456
      View Details
    • Value Estimation by Request
      6,376 SF

      4699 Hamann Pkwy

      MEDICAL BUILDING • 6,376 SF
      4699 Hamann Pkwy, Willoughby, OH 44094-5631
      View Details
    • Value Estimation
      $2,495,000
      27,724 SF

      4176 State Rte 306

      MEDICAL BUILDING • 27,724 SF
      4176 State Rte 306, Willoughby, OH 44094-9203
      View Details
    • Value Estimation by Request
      8,382 SF

      35005 Chardon Rd

      MEDICAL BUILDING • 8,382 SF
      35005 Chardon Rd, Willoughby Hills, OH 44094-9143
      View Details
    • Value Estimation by Request
      2,134 SF

      36751 Euclid Ave

      MEDICAL BUILDING • 2,134 SF
      36751 Euclid Ave, Willoughby, OH 44094-4451
      View Details

    Similar Nearby for Sale

    • $1,950,000
      4,600 SF

      Mentor Ave Office Campus

      Willoughby, OH Medical/Office Complex
      38882- Mentor Ave, Willoughby, OH 44094
      View Details
    • Contact for pricing
      46,531 SF

      Medical Office Building Near Hospital

      Medical office building with stable tenancy near University Hospitals.
      36100 Euclid Ave, Willoughby, OH 44094
      View Details
    • Contact for pricing
      10,480 SF

      Willoughby Freestanding Office/Warehouse Building

      Clean 10,480 SF office/warehouse/light industrial building for sale.
      38227 Western Pkwy, Willoughby, OH 44094
      View Details
    • $2,200,000
      11,250 SF

      Willoughby Retail/Office Investment Opportunity

      Meticulously maintained retail/office asset in the heart of Willoughby, Ohio.
      37111 Euclid Ave, Willoughby, OH 44094
      View Details
    • $1,800,000
      11,000 SF

      Willoughby Retail/Office Investment Opportunity

      Meticulously maintained retail/office asset in Willoughby's business district.
      37111 Euclid Ave, Willoughby, OH 44094
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,289 SF

      Willoughby Hills Medical Office Space

      Prime Ohio medical/executive suites available.
      34820 Chardon Rd, Willoughby Hills, OH 44094
      View Details
    • Contact for pricing
      15,409 SF

      Willoughby Hills Medical Office Space

      Class A medical office suites available. Excellent location, ample space.
      2785 Som Ctr Rd, Willoughby Hills, OH 44094
      View Details
    • Contact for pricing
      1,693 SF

      Class A Office Near I-90

      Class A office/medical building with access to I-90.
      4212 Chillicothe Rd, Willoughby, OH 44094
      View Details
    • Contact for pricing
      4,560 SF

      Medical Office Space Available

      Well-constructed office building with high traffic and strong demographics.
      37121 Euclid Ave, Willoughby, OH 44094
      View Details
    • Contact for pricing
      2,285 SF

      Willoughby Hills Retail/Office Space

      Prime freestanding building, 2,285 SF vacant.
      2765 Som Ctr Rd, Willoughby Hills, OH 44094
      View Details
    • Contact for pricing
      3,075 SF

      Vine Street Suites Available

      Office and warehouse suites for lease with utilities included.
      36615-36625 Vine St, Willoughby, OH 44094
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    35040 Chardon Rd
    Willoughby Hills, OH 44094-9006
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!