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

    6573 Pearl Rd, Unit 6579 Parma Heights, OH 44130-3839

    • Retail space
    • 6,500 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Nov 07, 2023
    $312,305
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1697812
    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

    • Buy Cell Cleveland iPhone Computer & Phone Repair / Computer Store / Phone Repair Service
    • TRADE-IN YOUR USED ELECTRONICS for CASH / Electronics Store
    • Cleveland BuyBack Sell Your iPhone iPad Macbook Samsung or Apple Watch for Cash / Electronics Store

    Property Details for 6573 Pearl Rd

    Year built
    1957
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.43 lot acres
    Property size
    6,500 SF
    Zone code
    C
    Property type
    Retail space
    APN
    473-34-004
    APU
    47334004

    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
    Parma Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7767
    Latitude
    41.383
    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
    $10,815
    $32,690
    $95,060
    $127,750
    -
    $93,400
    $271,600
    $365,000

    Comparable in this City

    • Value Estimation
      $1,160,000
      13,048 SF

      12965 Corporate Dr

      RETAIL STORES (PERSONAL SERVICES) • 13,048 SF
      12965 Corporate Dr, Parma, OH 44130-9305
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    • Value Estimation by Request
      14,004 SF

      6364 Pearl Rd

      Individual retail properties • 14,004 SF
      6364 Pearl Rd, Parma Heights, OH 44130
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    • Value Estimation by Request
      1.06 Acres

      Pearl Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.06 Acres
      Pearl Rd, Middleburg Heights, OH 44130
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    • Value Estimation by Request
      12,162 SF

      10211 Brookpark Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,162 SF
      10211 Brookpark Rd, Parma, OH 44130-1107
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    • Value Estimation by Request
      1,680 SF

      10505 Brookpark Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,680 SF
      10505 Brookpark Rd, Parma, OH 44130-1114
      View Details
    • Value Estimation by Request
      6,039 SF

      10903 Brookpark Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,039 SF
      10903 Brookpark Rd, Parma, OH 44130-1122
      View Details

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      2,700 SF

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      Popeyes Restaurant NNN Investment Opportunity

      New construction Popeyes with long-term lease and rental increases.
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      4.6 Acres Zoned Motor Services

      4.6 acres of commercial land with freeway exposure.
      Engle Lake Dr, Middleburg Heights, OH 44130
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      Prime Land Development Opportunity

      Over 3 acres of land suitable for commercial development.
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    Similar Nearby for Lease

    • Contact for pricing
      119,812 SF

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      9,600 SF

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      17000 Bagley Rd, Middleburg Heights, OH 44130
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      6,000 SF

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      Retail space available for lease with high traffic volume.
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      Renovated Retail Space in Parma

      Retail spaces available in renovated Parma Heights plaza.
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      1,700 SF

      Updated Retail/Office/Medical Space Available

      1,700 SF updated space for lease near I-71.
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    • New
      $1,700 /Mo
      Pending

      Turnkey Salon in Middleburg Heights

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    6573 Pearl Rd, Unit 6579
    Parma Heights, OH 44130-3839
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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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