Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    3640 Mayfield Rd Cleveland Heights, OH 44118

    Property Lookup

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

    3640 Mayfield Rd Cleveland Heights, OH 44118

    View on Map
    • Commercial real estate
    • 125,000 SF
    • 2.00 lot acres
    Off-Market
    Property ID
    US66-3152271
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3640 Mayfield Rd

    Lot size
    2.00 lot acres
    Property size
    125,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional retail property, located at 3640 Mayfield Road in Cleveland Heights, Ohio, presents a significant opportunity for businesses seeking substantial space. The entire 125,000 square foot building is currently vacant, offering unparalleled flexibility for a single large tenant or the potential for multiple occupants. Situated on a generous 2-acre lot in Cuyahoga County, this property boasts a prime location with high visibility and accessibility. The building's substantial size allows for a wide range of retail concepts, from large-format stores to multi-tenant developments. The address is 3640 Mayfield Rd, Cleveland Heights, OH 44118. The property is zoned for retail use and offers ample parking for customers and employees. Its strategic location within Cuyahoga County provides easy access to major transportation routes and a thriving consumer base. The property's size and location make it an ideal investment for businesses seeking to establish a strong presence in the Cleveland Heights market. With its significant square footage and prime location, this property represents a rare opportunity to secure a substantial retail space in a desirable area. The entire 125,000 square feet is available for lease, presenting a blank canvas for a visionary tenant or developer. This is a unique chance to acquire a significant retail presence in a vibrant and growing community. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.551923
    Latitude
    41.520405

    Comparable in this City

    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Cleveland, Ohio.
      3640 Mayfield Rd, Cleveland, OH 44118
      View Details
    • Contact for pricing
      1,900 SF

      Coventry Retail District Plaza Space

      Retail space available in the Coventry Retail District.
      1771-1791 Coventry Rd, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing

      Retail Space Near John Carroll

      New mixed-use development near John Carroll University, opening Fall 2026.
      2639 Warrensville Center Rd, University Heights, OH 44118
      View Details
    • Contact for pricing

      Coventry Road Retail Space Available

      Retail space for rent on Coventry Road, Cleveland Heights.
      1771 Coventry Rd, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing

      Retail Space at Lit Intersection

      Retail space available at a high-visibility corner location.
      2193 S Taylor Rd, University Heights, OH 44118
      View Details
    • Contact for pricing

      Retail Space in Cedar Center

      Sublease opportunity in University Heights retail center.
      13916 Cedar Rd, University Heights, OH 44118
      View Details

    Similar Nearby for Sale

    • $264,900
      Pending

      Updated Duplex in University Heights

      Well-maintained duplex with updates, near John Carroll University.
      13699 Cedar Rd, University Heights, OH 44118
      View Details
    • $335,000
      3,344 SF

      Cleveland Heights Income Producing Duplex

      Well-maintained, fully occupied duplex near Little Italy and University Circle.
      1630 Coventry Rd, Cleveland Heights, OH 44118
      View Details
    • $349,000
      3,568 SF

      Well-Maintained Duplex with Recent Updates

      Duplex with strong cash flow potential and updated mechanicals.
      13570 Cedar Rd, University Heights, OH 44118
      View Details
    • New
      $444,900
      5,237 SF

      University Heights Multifamily Opportunity

      Multifamily property near shopping, schools, and local amenities.
      2638 Fenwick Rd, University Heights, OH 44118
      View Details
    • $147,500
      4,529 SF

      Remodeled Triplex Near Cleveland Heights

      Fully occupied, remodeled triplex with separate utilities and high cap rate.
      1602 Hillcrest Rd, East Cleveland, OH 44118
      View Details
    • New
      $260,000
      2,026 SF

      Cleveland Heights Duplex Investment Opportunity

      Turnkey duplex near Cedar Lee district, ideal for investors.
      3241 Kildare Rd, Cleveland Heights, OH 44118
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Cleveland, Ohio.
      3640 Mayfield Rd, Cleveland, OH 44118
      View Details
    • Contact for pricing
      1,900 SF

      Coventry Retail District Plaza Space

      Retail space available in the Coventry Retail District.
      1771-1791 Coventry Rd, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing

      Retail Space in South Euclid

      Retail spaces available in a busy shopping center.
      1838 Warrensville Center Rd, South Euclid, OH 44118
      View Details
    • Contact for pricing

      Retail Spaces in Cedar Center

      Retail spaces available in established shopping center near John Carroll.
      13901 Cedar Rd, South Euclid, OH 44118
      View Details
    • Contact for pricing
      2,130 SF

      Severance Town Center Retail Space

      125,000 SF retail space in Severance Town Center.
      3452-3640 Mayfield Rd, Cleveland Heights, OH 44118
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Cleveland Heights

      Retail space available in a busy Cleveland Heights neighborhood.
      1800-1836 Coventry Rd, Cleveland Heights, OH 44118
      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.
    3640 Mayfield Rd
    Cleveland Heights, OH 44118
    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

    Thank You for Inquiry

    3640 Mayfield Rd, Cleveland Heights, OH, 44118

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!