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    7210 Memphis Ave Cleveland, OH 44144-2212
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    Property profile & analytics

    7210 Memphis Ave, Cleveland, OH 44144-2212

    View on Map
    • Strip malls
    • 5,295 SF
    • 0.44 lot acres
    Off-Market
    Property ID
    US66-6118357
    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.
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Shell Station Pop N Shell / Restaurant
    • Shell / Gas Station
    • Bitcoin Depot ATM / Atm
    • Krispy Krunchy Chicken / Restaurant
    • Cleveland Bitcoin ATM - Bitstop / Atm

    Property Details for 7210 Memphis Ave

    Year built
    2015
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.44 lot acres
    Zone code
    LR
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    013-11-002
    APU
    1311002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 16, 2019 $350,000 Annies Properties LLC Mohsha INC Warranty Deed —
    Dec 28, 2016 — Annies Properties LLC — Deed · related $975k · N & N Service INC
    May 1, 2015 $350,000 Annies Properties LLC Mohsha INC Dual Purpose Document · related $300k · Mohsha INC
    Feb 12, 2007 — Mohsha INC — Trustees Deed · related $157k · Growth Capital Corp
    Dec 15, 2006 $419,000 Mohsha INC True North Energy LLC Warranty Deed $400k · Dollar Bank Fsb
    — — Annies Properties LLC — Deed Of Trust · related $975k · N & N Service INC

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $839,000
      Market price range: $289k - $992k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $535,000
      Current use
      RESTAURANT
      $895,000
      Change: +67% Conversion: Difficult
      OFFICE BUILDING
      $855,000
      Change: +60% Conversion: Moderate
      MEDICAL BUILDING
      $575,000
      Change: +7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $470,000
      Change: -12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $440,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7349
    Latitude
    41.4403
    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
    $22,238
    $103,600
    $119,070
    $222,670
    -
    $296,000
    $340,200
    $636,200

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      Memphis Ave

      SHOPPING CENTER, STRIP CENTER
      Memphis Ave, Cleveland, OH 44144
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    • Value Estimation by Request
      560,643 SF

      4788 Ridge Rd

      Neighborhood centers
      4788 Ridge Rd, Brooklyn, OH 44144
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    • Value Estimation by Request
      20,470 SF

      6910 Biddulph Rd

      Neighborhood centers
      6910 Biddulph Rd, Cleveland, OH 44144
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    • Value Estimation by Request
      51,050 SF

      7359 Northcliff Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      7359 Northcliff Ave, Brooklyn, OH 44144-3249
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    • Value Estimation by Request
      1.14 Acres

      Brookpark Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      Brookpark Rd, Brooklyn, OH 44144
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    • Value Estimation by Request
      4.77 Acres

      Brookpark Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      Brookpark Rd, Brooklyn, OH 44144
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,804 SF

      Retail Property in Cleveland, OH

      Retail property available for sale in Cleveland, OH.
      6000 Memphis Ave, Cleveland, OH 44144
      View Details
    • Contact for pricing
      10,080 SF

      Brooklyn Multifamily Investment Opportunity

      14-unit multifamily property in Brooklyn, Ohio.
      4230 Ridge Rd, Brooklyn, OH 44144
      View Details
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      58,642 SF

      Cleveland Office Building For Sale

      58,642 SF office building on 4.05 acres.
      4261 Fulton Pkwy, Cleveland, OH 44144
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      Turnkey Apartment Building Investment Opportunity

      Renovated, lead-certified apartment building, fully occupied, investment opportunity.
      4145 Ridge Rd, Cleveland, OH 44144
      View Details
    • $1,149,900

      Turnkey Apartment Complex For Sale

      12-unit apartment complex, fully occupied, generating income.
      4160-4166 Ridge Rd, Brooklyn, OH 44144
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,102 SF

      Retail Space Near Giant Eagle

      Retail spaces available near Giant Eagle with highway access.
      6300-7106 Biddulph Rd, Brooklyn, OH 44144
      View Details
    • Contact for pricing
      2,300 SF

      Retail Space in Fulton Shopping Center

      Neighborhood shopping center with retail space for lease.
      4215-4273 Fulton Rd, Cleveland, OH 44144
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail property available for lease in Cleveland, Ohio.
      4215 Fulton Rd, Cleveland, OH 44144
      View Details
    • New
      $3,380 /Mo
      5,833 SF

      Turnkey Restaurant Space with Equipment

      Restaurant-ready suite with open kitchen, one restroom, and included commercial cooking equipment for quick concept launch.
      9918 Lorain Ave, Cleveland, OH 44144
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    • Contact for pricing
      6,058 SF

      Retail Space on Fulton Road

      6,058 sq ft retail space in Cleveland, Ohio.
      4250 Fulton Rd, Cleveland, OH 44144
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail property available for lease in Cleveland, OH.
      6910 Biddulph Rd, Cleveland, OH 44144
      View Details
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    Cleveland, OH 44144-2212
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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.

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