Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5615 Perkins Rd Bedford Heights, OH 44146-2558

    • Specialty properties
    • 39,640 SF
    • 7.27 lot acres
    OFF-MARKET
    Value Estimations
    $3,770,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2482574
    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

    • Specialty properties

    Property Details for 5615 Perkins Rd

    Year built
    1983
    Construction
    TYPE NOT SPECIFIED
    Lot size
    7.27 lot acres
    Property size
    39,640 SF
    Zone code
    R-1
    Property type
    Specialty properties
    APN
    791-32-026
    APU
    79132026

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,184,000
      Market price range: $1.30M - $4.99M

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $2,830,000
      Current use
      OFFICE BUILDING
      $5,380,000
      Change: +90% Conversion: Difficult
      MEDICAL BUILDING
      $4,305,000
      Change: +52% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,015,000
      Change: +42% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,285,000
      Change: +16% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,935,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bedford Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.4962
    Latitude
    41.4066
    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
    $0.00
    $152,670
    $1,472,380
    $1,625,050
    -
    $436,200
    $4,206,800
    $4,643,000

    Comparable in this City

    • Value Estimation by Request
      2,156 SF

      580 Columbus St

      CHARITABLE ORGANIZATION • 2,156 SF
      580 Columbus St, Bedford, OH 44146-2979
      View Details
    • Value Estimation by Request
      2,211 SF

      7110 Dunham Rd

      CHARITABLE ORGANIZATION • 2,211 SF
      7110 Dunham Rd, Walton Hills, OH 44146-4146
      View Details
    • Value Estimation by Request
      1,794 SF

      5983 Robertdale Rd

      CHARITABLE ORGANIZATION • 1,794 SF
      5983 Robertdale Rd, Bedford, OH 44146-2551
      View Details
    • Value Estimation
      $730,000
      13,089 SF

      26700 Aurora Rd

      FUNERAL HOME • 13,089 SF
      26700 Aurora Rd, Bedford Heights, OH 44146-1804
      View Details
    • Value Estimation
      $805,000
      0.15 Acres

      19 Grace St

      FUNERAL HOME • 0.15 Acres
      19 Grace St, Bedford, OH 44146
      View Details
    • Value Estimation
      $550,000
      3,760 SF

      7595 Walton Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 3,760 SF
      7595 Walton Rd, Walton Hills, OH 44146-5072
      View Details

    Similar Nearby for Sale

    • $175,000
      6,544 SF

      Bedford Mixed-Use Commercial Building

      Established Dry Cleaners, Huge Potential
      871 Broadway Ave, Bedford, OH 44146
      View Details
    • $615,000
      4,648 SF

      Retail Property in High-Traffic Location

      Well-maintained retail building with recent improvements and income potential.
      401-403 Broadway Ave, Bedford, OH 44146
      View Details
    • $294,900
      Pending

      Updated Four-Unit Multifamily Investment

      Rent-ready four-unit property near Bedford automile.
      579 Broadway Ave, Cleveland, OH 44146
      View Details
    • $68,000
      6.73 Acres

      Bedford Land for Development

      6.73 acres available in Bedford, Ohio for development.
      Hubbell Cir, Bedford, OH 44146
      View Details
    • $2,500,000
      18 SF

      Well-Maintained Bedford Office Building

      18,961 SF office building in Bedford, built in 2008.
      3 Hemisphere Way, Bedford, OH 44146
      View Details
    • $69,500
      0.37 Acres

      Buildable Land in Bedford Heights

      0.366-acre lot ready for new construction in established neighborhood.
      25686 Buckthorn Rd, Bedford Heights, OH 44146
      View Details

    Similar Nearby for Lease

    • New
      $1,250 /Mo
      30,453 SF

      Retail and Office Lease Opportunity

      High-visibility retail and office space available for lease in Bedford.
      403 Broadway Ave, Bedford, OH 44146
      View Details
    • New
      $2,500 /Mo
      30,453 SF

      Retail/Office Space on Broadway

      High-visibility retail and office space with ample parking.
      405 Broadway Ave, Bedford, OH 44146
      View Details
    • $6 SF/Yr
      13,500 SF

      Bedford Heights Industrial Space Available

      13,500 SF industrial space for lease in Bedford Heights.
      26820 Fargo Ave, Bedford Heights, OH 44146
      View Details
    • Contact for pricing
      110,000 SF

      Access Point II: Prime Ohio Space

      110,000 SF Office/Warehouse, Fully Leased
      7670 1 Pl, Oakwood Village, OH 44146
      View Details
    • $450 /Mo
      14,810 SF

      Office Space in Mixed-Use Building

      Office space for rent in Bedford, Ohio.
      755 Broadway Ave, Bedford, OH 44146
      View Details
    • $0.67 SF/Yr
      27,007 SF

      Bedford Heights Commercial Land

      0.62-acre commercial land for lease.
      5125 Northfield Rd, Bedford Heights, OH 44146
      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.
    5615 Perkins Rd
    Bedford Heights, OH 44146-2558
    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

    Google sign-in failed. Please try again or use another login method.