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

    3620 Lee Rd Shaker Heights, OH 44120-5114

    • Auto shops
    • 3,765 SF
    • 0.48 lot acres
    OFF-MARKET
    Last Sale
    Jul 13, 2020
    $250,000
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1138410
    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

    • MWW1 Engineering & Prototype Services / Manufacturer / Design Engineer

    Property Details for 3620 Lee Rd

    Year built
    1960
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.48 lot acres
    Property size
    3,765 SF
    Zone code
    C3
    Property type
    Auto shops
    APN
    735-24-062
    APU
    73524062

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $230,000
      ML approach
      $200,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $335,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $380,000
      Change: +14% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $310,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Shaker Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5656
    Latitude
    41.4612
    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
    $13,074
    $23,560
    $70,040
    $93,600
    -
    $67,300
    $200,100
    $267,400

    Comparable in this City

    • Value Estimation
      $250,000
      0.11 Acres

      12910 Soika Ave

      AUTO REPAIR, GARAGE • 0.11 Acres
      12910 Soika Ave, Cleveland, OH 44120-3145
      View Details
    • Value Estimation
      $270,000
      2,600 SF

      13502 Kinsman Rd

      AUTO REPAIR, GARAGE • 2,600 SF
      13502 Kinsman Rd, Cleveland, OH 44120-4412
      View Details
    • Value Estimation
      $275,000
      7,407 SF

      3600 Lee Rd

      AUTO REPAIR, GARAGE • 7,407 SF
      3600 Lee Rd, Shaker Heights, OH 44120-5114
      View Details
    • Value Estimation
      $350,000
      9,716 SF

      15215 Kinsman Rd

      AUTO REPAIR, GARAGE • 9,716 SF
      15215 Kinsman Rd, Cleveland, OH 44120-4905
      View Details
    • Value Estimation
      $65,000
      1,150 SF

      3078 116th St

      AUTO REPAIR, GARAGE • 1,150 SF
      3078 116th St, Cleveland, OH 44120-2970
      View Details
    • Value Estimation
      $995,000
      5,700 SF

      16101 Chagrin Blvd

      AUTO REPAIR, GARAGE • 5,700 SF
      16101 Chagrin Blvd, Shaker Heights, OH 44120-3707
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,300 SF

      Lee Road Auto Shop/Storefront

      9,300 SF Retail Space in Shaker Heights
      3536 Lee Rd, Shaker Heights, OH 44120
      View Details
    • Contact for pricing
      2,176 SF

      Freestanding Retail Building

      2,176 SF building on 0.97 acres.
      3255 W 117Th St, Cleveland, OH 44120
      View Details
    • $625,000
      4,640 SF

      Shaker Heights Corner Retail/Office

      Prime corner location with flexible zoning and recent renovations.
      15808 Chagrin Blvd, Cleveland, OH 44120
      View Details
    • $425,000
      1,440 SF

      Established Cleveland Convenience Store Opportunity

      Established convenience store with real estate and expansion potential for sale.
      15315 Bartlett Ave, Cleveland, OH 44120
      View Details
    • $4,000,000
      52,506 SF

      Mixed-Use Property with Walgreens

      52,506 SF mixed-use property in Shaker Heights, Ohio.
      16400-16500 Chagrin Blvd, Cleveland, OH 44120
      View Details
    • $74,900
      1,728 SF

      Cleveland Multifamily Investment Opportunity

      Multifamily property with strong rental potential, sold as-is.
      12800 Signet Ave, Cleveland, OH 44120
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,143 SF

      Prime Medical Office & Warehouse Space

      Cuyahoga County, 2,376 SF Available
      16500 Chagrin Blvd, Shaker Heights, OH 44120
      View Details
    • Contact for pricing
      4,356 SF

      Shaker Square Restaurant Spaces Available

      Fully equipped restaurant spaces for sublease in historic Shaker Square.
      13220 Shaker Blvd, Cleveland, OH 44120
      View Details
    • $12 SF/Yr
      40,941 SF

      Buckeye Road Retail Spaces

      Cleveland retail, 4 units available, 900-1800 sqft.
      13000 Buckeye Rd, Cleveland, OH 44120
      View Details
    • Contact for pricing
      2,939 SF

      Shaker Square Restaurant Spaces Available

      Fully equipped restaurant spaces for sublease in historic Shaker Square.
      13101 Shaker Blvd, Cleveland, OH 44120
      View Details
    • Contact for pricing
      9,324 SF

      Retail Space on Corner Location

      9,324 SF retail space on 0.9 acres for rent.
      2966 E 116Th St, Cleveland, OH 44120
      View Details
    • Contact for pricing
      123,197 SF

      Shaker Heights Retail Center Opportunity

      Prime Shaker Heights retail space available.
      16601 Chagrin Blvd, Shaker Heights, OH 44120
      View Details
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    3620 Lee Rd
    Shaker Heights, OH 44120-5114
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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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