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    Property profile & analytics

    4753 Northfield Rd North Randall, OH 44128-4539

    • Retail space
    • 11,774 SF
    • 0.97 lot acres
    OFF-MARKET
    Last Sale
    Aug 24, 2021
    Value Estimations
    $960,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1516712
    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 4753 Northfield Rd

    Year built
    2006
    Lot size
    0.97 lot acres
    Property size
    11,774 SF
    Zone code
    C-1
    Property type
    Retail space
    APN
    771-10-039
    APU
    77110039

    Description

    This exceptional retail property, located at 4753 Northfield Road in Cuyahoga County, offers a total of 15,000 square feet across eight individual suites. Currently, one suite with 4,500 square feet of contiguous space is available for lease. The building enjoys a highly visible location just north of the well-lit intersection of Miles and Northfield Roads, situated on the east side of the street. This prime location ensures excellent visibility and accessibility for potential customers. The property features prominent pylon signage opportunities, providing exceptional branding potential for tenants. The building's multiple suite configuration makes it ideal for a variety of retail businesses, offering flexibility for both large and smaller operators. The available 4,500 square foot space presents a significant opportunity for a business seeking a substantial presence in a thriving commercial area. With its strategic location and ample signage options, this property is poised to attract a significant customer base. The property's size and layout offer a unique opportunity for businesses seeking a prominent location in a busy commercial corridor. Interested parties are encouraged to inquire about lease terms and availability. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,060,000
      Market price range: $339k - $1.30M
      AI Estimate
      $677,000
      Market price range: $288k - $721k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $755,000
      Current use
      MEDICAL BUILDING
      $1,280,000
      Change: +70% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,195,000
      Change: +58% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,050,000
      Change: +39% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $975,000
      Change: +29% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $870,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Randall
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5249
    Latitude
    41.4286
    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
    $21,659
    $44,420
    $169,440
    $213,860
    -
    $126,900
    $484,100
    $611,000

    Comparable in this City

    • Value Estimation by Request
      779 SF

      3938 147th St

      RETAIL STORES (PERSONAL SERVICES) • 779 SF
      3938 147th St, Cleveland, OH 44128-1081
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    • Value Estimation by Request
      2,400 SF

      17415 Miles Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      17415 Miles Ave, Cleveland, OH 44128-3401
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    • Value Estimation by Request
      1,800 SF

      17320 Harvard Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      17320 Harvard Ave, Cleveland, OH 44128-1714
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      1,288 SF

      14302 Harvard Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,288 SF
      14302 Harvard Ave, Cleveland, OH 44128-1833
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      4,000 SF

      3815 Lee Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      3815 Lee Rd, Cleveland, OH 44128-1411
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    • Value Estimation by Request
      5,094 SF

      4088 Lee Rd, Unit 4096

      RETAIL STORES (PERSONAL SERVICES) • 5,094 SF
      4088 Lee Rd, Cleveland, OH 44128-2142
      View Details

    Similar Nearby for Sale

    • $39,900
      0.19 Acres

      Cleveland Multifamily Building For Sale

      Multifamily property with storefronts needing renovation in Cleveland, OH.
      14201 Miles Ave, Cleveland, OH 44128
      View Details
    • New
      $750,000
      11,280 SF

      High-Visibility Showroom in North Randall

      Showroom-style retail building with flexible storage and high visibility.
      4633 Northfield Rd, North Randall, OH 44128
      View Details
    • New
      $900,000
      10,455 SF

      North Randall Automotive and Retail

      Freestanding building with auto repair, body shop, and retail.
      4635 Northfield Rd, North Randall, OH 44128
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    • $695,000
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      Ohio Retail Investment Opportunity

      High-Cap Rate, Two-Tenant Property
      22019 Emery Rd, Warrensville Heights, OH 44128
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      1,500 SF

      Lee Road Retail Opportunity

      Cleveland Restaurant/Daycare Space
      3965 Lee Rd, Cleveland, OH 44128
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      1,500 SF

      Freestanding Restaurant with Existing Equipment

      Freestanding restaurant with equipment, approximately 1500 square feet.
      3965 Lee Rd, Cleveland, OH 44128
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    Similar Nearby for Lease

    • New
      $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
    • New
      $7,000 /Mo
      55,016 SF

      North Randall Commercial Space Available

      High-visibility commercial space with auto repair and body shop features.
      4635 Northfield Rd, North Randall, OH 44128
      View Details
    • Contact for pricing
      8,400 SF

      Retail Space Available For Lease

      Retail property with 8,400 square feet available for lease.
      16605 Miles Ave, Cleveland, OH 44128
      View Details
    • Contact for pricing
      201,491 SF

      Lee Harvard Shopping Center: Cleveland

      Prime Retail Space, Cleveland, Ohio
      4071 Lee Rd, Cleveland, OH 44128
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    • Contact for pricing
      23,259 SF

      North Randall Retail Center Investment

      High-traffic retail space available.
      4601 Northfield Rd, North Randall, OH 44128
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    • $6 SF/Yr
      13,614 SF

      Warehouse and Office Flex Space

      Warehouse and office flex park with spaces available for lease.
      15601 Neo Pkwy, Garfield Heights, OH 44128
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    4753 Northfield Rd
    North Randall, OH 44128-4539
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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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