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    Detroit Rd Sheffield, OH 44054
    Property profile & analytics

    Detroit Rd, Sheffield, OH 44054

    View on Map
    • Individual retail properties
    • 24,254 SF
    • 0.36 lot acres
    For Lease
    $790,000
    View Listing →
    Retail Space for Lease For Lease
    $790,000

    Retail Space for Lease

    Retail space available for lease on Detroit Rd.

    Detroit Rd, Sheffield, OH 44054
    View Listing
    Property ID
    US66-1890563
    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
    $790,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Individual retail properties

    Property Details for Detroit Rd

    Lot size
    0.36 lot acres
    Property size
    24,254 SF
    Property type
    Individual retail properties
    APN
    03-00-002-102-023
    APU
    300002102023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $927,000
      Market price range: $575k - $2.40M
      AI Estimate
      $897,000
      Market price range: $600k - $2.59M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sheffield Lake
    County
    Lorain
    State
    Ohio
    Longitude
    -82.0761
    Latitude
    41.4262
    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
    $25,145
    $32,200
    $359,100
    $391,300
    -
    $92,000
    $1,026,000
    $1,118,000

    Comparable in this City

    • Value Estimation
      $2,490,000
      142,370 SF

      5211 Cobblestone Rd

      APPLIANCE STORE • 142,370 SF
      5211 Cobblestone Rd, Sheffield Lake, OH 44054
      View Details
    • Value Estimation by Request
      9,100 SF

      4672 Lk Rd

      APPLIANCE STORE • 9,100 SF
      4672 Lk Rd, Sheffield Lake, OH 44054-1359
      View Details
    • Value Estimation
      $4,010,000
      136,461 SF

      5225 Cobblestone Rd

      APPLIANCE STORE • 136,461 SF
      5225 Cobblestone Rd, Sheffield Lake, OH 44054
      View Details
    • Value Estimation
      $910,000
      9,252 SF

      5248 Colorado Ave

      APPLIANCE STORE • 9,252 SF
      5248 Colorado Ave, Sheffield Village, OH 44054-2335
      View Details
    • Value Estimation by Request
      2,656 SF

      5246 Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,656 SF
      5246 Lk Rd, Sheffield Lake, OH 44054-1716
      View Details
    • Value Estimation by Request
      5,304 SF

      218 Abbe Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,304 SF
      218 Abbe Rd, Sheffield Lake, OH 44054
      View Details

    Similar Nearby for Sale

    • $315,000

      Commercial Property with High Visibility

      C-3 zoned commercial property with flexible space and strong traffic.
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    • $700,000
      1.33 Acres

      Lakefront Restaurant and Banquet Hall

      Restaurant with banquet hall, bar, and development opportunity on 1.33 acres.
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    • $4,661,217
      Pending

      Sheetz Investment Opportunity in Sheffield

      Triple net Sheetz investment property in a Cleveland suburb.
      5295 Detroit Rd, Sheffield, OH 44054
      View Details
    • Contact for pricing
      4,850 SF

      Lakefront Property with Versatile Use

      Versatile lakefront property suitable for office, medical, or live/work use.
      4259 E Lake Rd, Sheffield Lake, OH 44054
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      Pending

      Sheffield Lake Wooded Lot

      Wooded residential land for sale in Sheffield Lake, Ohio.
      Vl Maplewood Ave, Sheffield Lake, OH 44054
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      Vacant Land in Sheffield Village

      Vacant land suitable for immediate development or strategic investment.
      Colorado Ave, Sheffield Lake, OH 44054
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space on Detroit Road

      Retail property for lease with high traffic count.
      5255 Detroit Rd, Sheffield Village, OH 44054
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Sheffield, Ohio.
      5255 Detroit Rd, Sheffield, OH 44054
      View Details
    • Contact for pricing
      13,500 SF

      Retail Space on Lake Road

      Retail spaces available inline with established businesses on Lake Road.
      4100-4128 E Lake Rd, Sheffield Lake, OH 44054
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease on Detroit Rd.
      Detroit Rd, Sheffield, OH 44054
      View Details
    • Contact for pricing

      Office Space for Lease

      Office space available for rent in Sheffield Lake, OH.
      4259 Lake Rd, Sheffield Lake, OH 44054
      View Details
    • Contact for pricing
      4,610 SF

      Flex Space with Office Component

      4,610 SF flex space with dedicated office and yard.
      842 Abbe Rd, Sheffield Village, OH 44054
      View Details
    View Listing
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    Sheffield, OH 44054
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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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