Add Listing
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

    6248 Rdg Rd Madison, OH 44057-2567

    • Medical offices
    • 1,920 SF
    • 1.14 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2021
    $115,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2575344
    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

    • Madison Dental / Dental Office
    • Dr. Ahmad Abdelhamid / Dental Office
    • Yazan Fuad Karadsheh / Dental Office

    Property Details for 6248 Rdg Rd

    Year built
    1953
    Construction
    WOOD
    Lot size
    1.14 lot acres
    Property size
    1,920 SF
    Zone code
    B2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    01-B-110-A-00-008-0
    APU
    01B110A000080

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Lake
    State
    Ohio
    Longitude
    -81.0653
    Latitude
    41.8025
    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
    $3,554
    $26,530
    $15,240
    $41,770
    -
    $75,810
    $43,550
    $119,360

    Comparable in this City

    • Value Estimation by Request
      4,320 SF

      91 Lk St

      MEDICAL BUILDING • 4,320 SF
      91 Lk St, Madison, OH 44057-3113
      View Details
    • Value Estimation by Request
      2,136 SF

      65 Lk St

      MEDICAL BUILDING • 2,136 SF
      65 Lk St, Madison, OH 44057-3113
      View Details
    • Value Estimation by Request
      12,298 SF

      46 Lk St

      MEDICAL BUILDING • 12,298 SF
      46 Lk St, Madison, OH 44057-3114
      View Details
    • Value Estimation
      $2,875,000
      67,744 SF

      2041 Hubbard Rd

      MEDICAL BUILDING • 67,744 SF
      2041 Hubbard Rd, Madison, OH 44057-2565
      View Details
    • Value Estimation
      $1,570,000
      7,752 SF

      2999 Mcmackin Rd

      MEDICAL BUILDING • 7,752 SF
      2999 Mcmackin Rd, Madison, OH 44057-2330
      View Details
    • Value Estimation by Request
      4,434 SF

      6325 Rdg Rd

      MEDICAL BUILDING • 4,434 SF
      6325 Rdg Rd, Madison, OH 44057-2547
      View Details

    Similar Nearby for Sale

    • New
      $245,000
      0.08 Acres

      Downtown Madison Mixed-Use Property

      Mixed-use property in Downtown Madison with commercial and residential units.
      13-15 W Main St, Madison, OH 44057
      View Details
    • $3,000,000
      11.47 Acres

      Madison Commercial Land - $3M

      High-traffic, 11-acre development site.
      6008 Ridge Rd, Madison, OH 44057
      View Details
    • Contact for pricing
      1.00 Acre

      Madison, OH Commercial Land Outlots

      Prime Retail Land, US Route 20, Build-to-Suit
      0 Ridge Rd, Madison, OH 44057
      View Details
    • $1,773,600
      59.12 Acres

      Prime Madison Industrial Land

      59 Acres, I-90 Access, Zoned Industrial
      0 Madison Rd, Madison, OH 44057
      View Details
    • $2,564,470
      17.69 Acres

      I-90 Madison, OH Development Land

      17+ Acres, Prime I-90 Location
      307 Oh-528, Madison, OH 44057
      View Details
    • $5,824,500
      38.83 Acres

      I-90 & SR 528 Development Land

      Prime Ohio location, 38.83 acres, B-5 zoning.
      528 & Interstate 90, Madison, OH 44057
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      16,250 SF

      Madison Medical Office Complex

      Prime Medical Office Space Available
      2602-2624 Hubbard Rd, Madison, OH 44057
      View Details
    • $8 SF/Yr
      5,705 SF

      Madison Office Space for Lease

      Flexible Offices, Coworking & More
      201 Water Tower Dr, Madison, OH 44057
      View Details
    • Contact for pricing
      1,045 SF

      Medical/Office Space Near Cleveland Clinic

      Contiguous medical/office spaces available in newer buildings near major routes.
      2602-2624 Hubbard Rd, Madison, OH 44057
      View Details
    • Contact for pricing

      OH, Madison - Water Tower Dr

      Discover many ways to work your way in San Antonio Airport
      201 Water Tower Dr, Madison, OH 44057
      View Details
    • Contact for pricing
      600 SF

      Updated Retail/Office Space in Madison

      600 SF retail/office space with high visibility and accessibility.
      6714 N Ridge Rd, Madison, OH 44057
      View Details
    • Contact for pricing
      1,801 SF

      Retail Space on North Ridge

      1,801 SF retail space for lease on North Ridge.
      2545-2593 N Ridge Rd, Madison, OH 44057
      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.
    6248 Rdg Rd
    Madison, OH 44057-2567
    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.
    Sign Up Successful!
    You now have access to more from Realmo!