Property profile

500 Royalton Rd 550 Broadview Heights, OH 44147

OFF-MARKET
Banks
Property ID
US66-2326330
3,024 SF 2.85 ac lot Built 1995
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

First Merit Plaza, located at 500 E Royalton Rd, Broadview Heights, OH 44147, offers a 2,128 square foot executive office space for lease. This single-floor office building is situated behind the main plaza, which is a 31,250 square foot multi-tenant property. The building enjoys a convenient location at the intersection of Broadview Road and Route 82, in Cuyahoga County. Its prime location offers easy access to I-77, as well as nearby amenities such as Giant Eagle and University Hospital. The plaza itself boasts a vibrant mix of businesses, including a Coffee Club, Romeo's Pizza, and Antoine's Spa. The available space is part of a larger office complex, providing a professional and well-established environment. The property is situated on the south side of Broadview Road, just east of the Route 82 and Broadview Road intersection. This exceptional opportunity presents a chance to secure a well-located office space in a thriving commercial area. The total building size is 31,250 square feet, with 2,128 square feet currently available. The property type is classified as both Executive Office and Traditional Office.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1995
Construction WOOD
Total area 3,024 SF
Lot 2.85 ac (124,146 SF)
Zoning code C-4
APN 583-26-005
UPID US66-2326330

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Cafe & Coffee Shop
  • (Bike/Boat/Book/etc) Store
  • Real Estate Agency
  • Real Estate Agency
  • Department Store

Location

500 Royalton Rd, Unit 550 Broadview Heights, OH 44147-2597
Broadview Heights metro Census 136104 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$385k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$385k

Owner & transaction history

since 2023
6 recorded transactions
2023
Price N/A
2005
$5.0M
1997
$508,500
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

C-4 · Broadview Heights, OH
Zoning description

4: DISTRICTS GENERALLY AND ZONE MAP CHAPTER 1266: CLASSIFICATION OF USES CHAPTER 1268: CLASS A DISTRICTS CHAPTER 1272: CLASS B-3 DISTRICTS CHAPTER 1275: CLASS B-5 DISTRICTS CHAPTER 1276: BUSINESS DISTRICTS CHAPTER 1277:…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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