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

    4343 Royalton Rd Broadview Heights, OH 44147

    • Grocery and convenience stores
    • 83,495 SF
    • 9.70 lot acres
    For Lease
    View listing
    Value Estimations
    $900,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1310832
    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

    • Grocery and convenience stores

    Property Details for 4343 Royalton Rd

    Year built
    2011
    Construction
    TYPE NOT SPECIFIED
    Lot size
    9.70 lot acres
    Property size
    83,495 SF
    Zone code
    E-1
    Property type
    Grocery and convenience stores
    APN
    583-18-008
    APU
    58318008

    Description

    This exceptional 0.68-acre commercial land parcel presents a unique investment opportunity in the thriving Broadview Heights, Ohio market. Located at 4343 E Royalton Rd, zip code 44147, this single-tenant property offers significant potential for various commercial ventures. The land is designated for commercial use within Cuyahoga County. The property boasts a total land area of 0.68 acres, providing ample space for development. The site's strategic location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a prominent presence in this dynamic area. With its convenient access to major roadways and a strong local economy, this property is poised for success. The property is currently available for lease. Serious inquiries are encouraged to explore the possibilities of this prime commercial land parcel. The property is zoned for commercial use and is ready for immediate development. This is a rare opportunity to acquire a well-situated commercial land parcel in a high-growth area. The site's flat topography simplifies development plans, minimizing potential site preparation costs. This property is perfect for businesses seeking a high-profile location with excellent visibility and accessibility. Further details regarding zoning and development regulations are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $900,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Broadview Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6555
    Latitude
    41.3152
    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
    $284,299
    $1,300,850
    $2,066,790
    $3,367,640
    -
    $3,716,700
    $5,905,100
    $9,621,800

    Comparable in this City

    • Value Estimation
      $545,000
      28,917 SF

      9318 Broadview Rd

      GROCERY, SUPERMARKET • 28,917 SF
      9318 Broadview Rd, Broadview Heights, OH 44147-2306
      View Details
    • Value Estimation
      $735,000
      20,464 SF

      1500 Royalton Rd

      GROCERY, SUPERMARKET • 20,464 SF
      1500 Royalton Rd, Broadview Heights, OH 44147-2414
      View Details
    • Value Estimation
      $240,000
      5,568 SF

      4955 Royalton Rd

      CONVENIENCE STORE • 5,568 SF
      4955 Royalton Rd, Broadview Heights, OH 44147-3501
      View Details
    • Value Estimation
      $325,000
      6,579 SF

      192 Wallings Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,579 SF
      192 Wallings Rd, Broadview Heights, OH 44147-1246
      View Details
    • Value Estimation
      $215,000
      8,400 SF

      9255 Broadview Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,400 SF
      9255 Broadview Rd, Broadview Heights, OH 44147-2371
      View Details
    • Value Estimation
      $155,000
      3,200 SF

      8071 Broadview Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      8071 Broadview Rd, Broadview Heights, OH 44147-1203
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
      128,212 SF

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      High-traffic shopping center; spaces available.
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      Medical & Traditional Office Suites Available
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    • Contact for pricing
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    • $21 SF/Yr
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      Prime Cuyahoga County Office Space
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      Prime Ohio Office Suites, 800-1200 sq ft
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      View Details
    • Contact for pricing
      2,128 SF

      Broadview Heights Office Space Available

      2,128 sq ft office space for rent.
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      View Details
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    Broadview Heights, OH 44147
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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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