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

    777 Rocky Riv Dr Berea, OH 44017

    • Retail space
    • 2,220 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Feb 20, 2024
    $423,000
    Value Estimations
    $400,000
    Show details
    Cap Rate Potential
    5%
    Retail space
    Location Intelligence
    Property ID
    US66-1979030
    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

    • Retail space

    Property Details for 777 Rocky Riv Dr

    Year built
    1965
    Construction
    WOOD
    Lot size
    0.43 lot acres
    Property size
    2,220 SF
    Zone code
    G
    Property type
    Retail space
    APN
    362-02-015
    APU
    36202015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $425,000
      ML approach
      $425,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $355,000
      6.5%
      $325,000
      7%
      $305,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $360,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Berea
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8541
    Latitude
    41.3866
    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
    $5,920
    $34,690
    $28,810
    $63,500
    -
    $99,100
    $82,300
    $181,400

    Comparable in this City

    • Value Estimation
      $205,000
      1,440 SF

      1185 Bagley Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
      1185 Bagley Rd, Berea, OH 44017-2909
      View Details
    • Value Estimation
      $195,000
      3,354 SF

      76 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 3,354 SF
      76 Frnt St, Berea, OH 44017-1950
      View Details
    • Value Estimation
      $310,000
      6,624 SF

      50 Park St

      RETAIL STORES (PERSONAL SERVICES) • 6,624 SF
      50 Park St, Berea, OH 44017-1506
      View Details
    • Value Estimation
      $190,000
      3,108 SF

      249 Rocky Riv Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,108 SF
      249 Rocky Riv Dr, Berea, OH 44017
      View Details
    • Value Estimation
      $265,000
      2,104 SF

      387 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 2,104 SF
      387 Frnt St, Berea, OH 44017-1715
      View Details
    • Value Estimation
      $185,000
      2,500 SF

      450 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 2,500 SF
      450 Frnt St, Berea, OH 44017-1731
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,000 SF

      Berea Storefront: Prime Retail Space

      6,000 SF Retail Space, Excellent Location
      70 Front St, Berea, OH 44017
      View Details
    • $599,900
      2,510 SF

      Established Dry Cleaning Business For Sale

      Long-standing family-run dry cleaning business with real estate included.
      232 Front St, Berea, OH 44017
      View Details
    • Contact for pricing
      6,000 SF

      Bakery with Apartments For Sale

      6,000 SF bakery with two apartments near university.
      70 Front St, Berea, OH 44017
      View Details
    • $1,000,000
      3,049 SF

      Turnkey Restaurant For Sale

      Freestanding, fully equipped restaurant with ample parking and outdoor patio.
      30 Depot St, Berea, OH 44017
      View Details
    • Contact for pricing
      3,182 SF

      Retail Property in Berea, Ohio

      Retail property with parking and frontage on two streets.
      799 Front St, Berea, OH 44017
      View Details
    • $475,000

      Corner Lot Near University

      Commercial land with high visibility near Baldwin Wallace University.
      249 N Rocky River Dr, Berea, OH 44017
      View Details

    Similar Nearby for Lease

    • $600 /Mo
      10,019 SF

      Updated Office Space For Rent

      Highly visible, updated office space near Browns training facility.
      505 Front St, Berea, OH 44017
      View Details
    • Contact for pricing
      1,357 SF

      Retail Space in Berea, OH

      Retail spaces available in Giant Eagle anchored shopping center.
      50-60 W Bridge St, Berea, OH 44017
      View Details
    • Contact for pricing
      47,308 SF

      West Valley Plaza Retail Center

      Berea, Ohio: Prime Retail Space Available
      371-447 Bagley Rd, Berea, OH 44017
      View Details
    • $550 /Mo
      800 SF

      Renovated Office Spaces Available

      Modern office spaces for rent with flexible terms.
      398 W Bagley Rd, Berea, OH 44017
      View Details
    • $1,300,000
      4,000 SF

      Renovated Office Space Available

      Contiguous office space for rent, renovated in 1989.
      58 Front St, Berea, OH 44017
      View Details
    • Contact for pricing
      975 SF

      Versatile Flex Space Near Airport

      Flex space with office and warehouse near I-480 and I-71.
      682 W Bagley Rd, Berea, OH 44017
      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.
    777 Rocky Riv Dr
    Berea, OH 44017
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.