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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6286 Pearl Rd Parma Heights, OH 44130-3062

    • Strip malls
    • 30,414 SF
    • 0.79 lot acres
    OFF-MARKET
    Last Sale
    Mar 02, 2023
    $4,387,000
    Value Estimations
    $4,340,000
    Show details
    Cap Rate Potential
    8%
    Strip malls
    Location Intelligence
    Property ID
    US66-3495087
    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

    • Pearl Road Shopping Center / Shopping Mall
    • Vitcom / Discount Store
    • Electronics Ohio / Electronics Store

    Property Details for 6286 Pearl Rd

    Year built
    1978
    Lot size
    0.79 lot acres
    Property size
    30,414 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    471-15-042
    APU
    47115042

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,095,000
      ML approach
      $4,100,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,485,000
      6.5%
      $5,065,000
      7%
      $4,700,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,080,000
      Current use
      RESTAURANT
      $5,130,000
      Change: +67% Conversion: Difficult
      MEDICAL BUILDING
      $3,305,000
      Change: +7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,705,000
      Change: -12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,520,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Parma Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7644
    Latitude
    41.3908
    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
    $5,598
    $60,450
    $0.00
    $60,450
    -
    $172,700
    $0.00
    $172,700

    Comparable in this City

    • Value Estimation
      $475,000
      6,300 SF

      10703 Pleasant Vly Rd

      SHOPPING CENTER, STRIP CENTER • 6,300 SF
      10703 Pleasant Vly Rd, Parma, OH 44130-5165
      View Details
    • Value Estimation
      $240,000
      5,278 SF

      6448 Pearl Rd

      SHOPPING CENTER, STRIP CENTER • 5,278 SF
      6448 Pearl Rd, Parma Heights, OH 44130-2909
      View Details
    • Value Estimation
      $415,000
      5.00 Acres

      Pearl Rd

      SHOPPING CENTER, STRIP CENTER • 5.00 Acres
      Pearl Rd, Middleburg Heights, OH 44130
      View Details
    • Value Estimation
      $435,000
      24,400 SF

      7557 Pearl Rd

      SHOPPING CENTER, STRIP CENTER • 24,400 SF
      7557 Pearl Rd, Middleburg Heights, OH 44130-6429
      View Details
    • Value Estimation
      $175,000
      0.58 Acres

      7579 Pearl Rd

      SHOPPING CENTER, STRIP CENTER • 0.58 Acres
      7579 Pearl Rd, Middleburg Heights, OH 44130-6429
      View Details
    • Value Estimation
      $645,000
      35,540 SF

      6876 Pearl Rd

      SHOPPING CENTER, STRIP CENTER • 35,540 SF
      6876 Pearl Rd, Middleburg Heights, OH 44130-3635
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,700 SF

      Freestanding Building on Brookpark Road

      2,700 SF building ideal for restaurant or retail.
      10800 Brookpark Rd, Cleveland, OH 44130
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    • $2,916,667
      2,092 SF

      Popeyes Restaurant NNN Investment Opportunity

      New construction Popeyes with long-term lease and rental increases.
      17505 Bagley Rd, Middleburg Heights, OH 44130
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    • $215,000
      0.73 Acres

      Prime Parma Heights Commercial Land

      0.73-acre lot, General Commercial zoning.
      6405 Pearl Rd, Parma Heights, OH 44130
      View Details
    • $34,900
      0.11 Acres

      Residential Land in Parma Heights

      Land for sale in Parma Heights, build your dream home.
      Parkhill Dr, Parma Heights, OH 44130
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    • $499,900

      Middleburg Heights Land on Pearl

      0.69+ acre site on Pearl Road near Bagley Road.
      7183 Pearl Rd, Middleburg Heights, OH 44130
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    • Contact for pricing
      33,338 SF

      Parma Office Building For Sale

      33,338 SF office building available in Parma, Ohio.
      12965 Corporate Dr, Parma, OH 44130
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    Similar Nearby for Lease

    • Contact for pricing
      5,252 SF

      Renovated Retail Space in Parma

      Retail spaces available in renovated Parma Heights plaza.
      6333-6339 Olde York Rd, Parma Heights, OH 44130
      View Details
    • Contact for pricing
      1,584 SF

      Retail Space in High-Traffic Center

      Retail space in a highly trafficked shopping center.
      6869 Pearl Rd, Cleveland, OH 44130
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Southwest General

      Retail space available near hospital and university with high occupancy.
      18324-18348 Bagley Rd, Middleburg Heights, OH 44130
      View Details
    • Contact for pricing
      6,095 SF

      Retail Center Anchored by Grocers

      Highly trafficked retail center near I-71 and I-480.
      6801-6849 Pearl Rd, Middleburg Heights, OH 44130
      View Details
    • Contact for pricing
      9,600 SF

      Retail Space with Drive-Thru Potential

      9,600 SF retail space with drive-thru in Middleburg Heights.
      17000 Bagley Rd, Middleburg Heights, OH 44130
      View Details
    • Contact for pricing
      34,412 SF

      Cleveland QSR Outparcel Opportunity

      High-traffic location, 0.79 acres, ground lease.
      10260 Brookpark Rd, Cleveland, OH 44130
      View Details
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    6286 Pearl Rd
    Parma Heights, OH 44130-3062
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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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