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    4651 Northfield Rd North Randall, OH 44128-4508
    Property profile & analytics

    4651 Northfield Rd, North Randall, OH 44128-4508

    View on Map
    • Retail space
    • 8,360 SF
    • 3.14 lot acres
    Off-Market
    Last Sale Jan 4, 2023
    $1,165,000
    Property ID
    US66-6285419
    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
    $935,000
    Show details
    Cap Rate Potential
    Location Intelligence

    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 4651 Northfield Rd

    Year built
    1965
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.14 lot acres
    Zone code
    C-1
    Property type
    Retail space
    APN
    771-09-013
    APU
    77109013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $790,000
      ML approach
      $740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,340,000
      6.5%
      $1,235,000
      7%
      $1,145,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $921,000
      Market price range: $241k - $922k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,410,000
      OFFICE BUILDING
      $1,350,000
      MEDICAL BUILDING
      $910,000
      NEIGHBORHOOD: SHOPPING CENTER
      $845,000
      AUTO REPAIR, GARAGE
      $745,000
      COMMERCIAL (GENERAL)
      $695,000
      APARTMENT HOUSE (5+ UNITS)
      $620,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Randall
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5243
    Latitude
    41.4302
    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
    $28,173
    $143,570
    $134,610
    $278,180
    -
    $410,200
    $384,600
    $794,800

    Comparable in this City

    • Value Estimation by Request
      2,273 SF

      3750 140th St

      RETAIL STORES (PERSONAL SERVICES)
      3750 140th St, Cleveland, OH 44128-1002
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    • Value Estimation by Request
      4,000 SF

      3819 Lee Rd

      RETAIL STORES (PERSONAL SERVICES)
      3819 Lee Rd, Cleveland, OH 44128-1411
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    • Value Estimation by Request
      4,426 SF

      21640 Miles Rd

      RETAIL STORES (PERSONAL SERVICES)
      21640 Miles Rd, North Randall, OH 44128-4504
      View Details
    • Value Estimation by Request
      4,000 SF

      17607 Harvard Ave

      RETAIL STORES (PERSONAL SERVICES)
      17607 Harvard Ave, Cleveland, OH 44128-1719
      View Details
    • Value Estimation by Request
      1,664 SF

      16423 Miles Ave, Unit 16429

      RETAIL STORES (PERSONAL SERVICES)
      16423 Miles Ave, Cleveland, OH 44128-2941
      View Details
    • Value Estimation
      $715,000
      8,320 SF

      23005 Miles Rd

      RETAIL STORES (PERSONAL SERVICES)
      23005 Miles Rd, Cleveland, OH 44128-5442
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,280 SF

      Retail Building Near Amazon Center

      Free-standing retail building near Amazon Distribution Center.
      4633 Northfield Rd, North Randall, OH 44128
      View Details
    • $750,000
      11,280 SF

      High-Visibility Showroom Retail Building

      Showroom-style retail building with flexible receiving and storage options.
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      North Randall Freestanding Commercial Building

      10,455 SF building on 1.26 acres with flexible commercial setup.
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      4,547 SF

      Retail Building on Emery Road

      4,547 SF freestanding building on 1.087 acres for sale.
      22801 Emery Rd, Warrensville Heights, OH 44128
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      6,350 SF

      Two-Building Asset For Sale

      Two-building asset with restaurant and automotive tenants in Warrensville Heights.
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    • Contact for pricing
      7,050 SF

      Repair Center with Bodyshop

      Six-bay repair center with bodyshop and outdoor storage.
      4635 Northfield Rd, North Randall, OH 44128
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Retail Space on Warrensville Road

      1,600 sq ft retail space available for lease.
      4614-4654 Warrensville Center Rd, North Randall, OH 44128
      View Details
    • Contact for pricing
      1,950 SF

      Retail Spaces Near Amazon Center

      Retail spaces for lease near Amazon Fulfillment Center.
      4840-4860 Northfield Rd, North Randall, OH 44128
      View Details
    • Contact for pricing
      1,700 SF

      Retail Plaza on Northfield Road

      Retail space available in North Randall with pylon signage.
      4880 Northfield Rd, North Randall, OH 44128
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space Near Amazon Center

      Retail space available near Amazon fulfillment center with 2,000 employees.
      4836 Northfield Rd, North Randall, OH 44128
      View Details
    • $6,000 /Mo
      28,227 SF

      High-Visibility Showroom in North Randall

      Showroom-style retail building with flexible storage and signage opportunity.
      4633 Northfield Rd, North Randall, OH 44128
      View Details
    • $4,500 /Mo
      55,016 SF

      North Randall Auto Repair Facility

      Established auto repair facility with 7 bays and ample parking.
      4635 Northfield Rd, North Randall, OH 44128
      View Details
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    North Randall, OH 44128-4508
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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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    4651 Northfield Rd, North Randall, OH, 44128
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