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

    Richmond Rd Lyndhurst, OH 44124

    • Outlet malls
    • 80,547 SF
    • 4.52 lot acres
    OFF-MARKET
    Value Estimations
    $5,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-4270683
    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

    • Christopher Tangen, DO / Urgent Care Center / Sports Medicine Clinic
    • Hecks of Beachwood / Restaurant / American Restaurant
    • CAKES AND DESSERTS BY MICHELE LLC / Bakery / Cake Shop
    • Mitchell's Ice Cream (Beachwood Shop) / Ice Cream Shop / Dessert Restaurant
    • Laundromat Promotions / Promotional Products Supplier

    Property Details for Richmond Rd

    Year built
    2003
    Construction
    TYPE NOT SPECIFIED
    Lot size
    4.52 lot acres
    Property size
    80,547 SF
    Property type
    Outlet malls
    APN
    713-07-003
    APU
    71307003

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,796,000
      Market price range: $2.32M - $8.88M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,160,000
      Current use
      MEDICAL BUILDING
      $8,750,000
      Change: +70% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $8,160,000
      Change: +58% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $7,165,000
      Change: +39% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,675,000
      Change: +29% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $5,960,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lyndhurst
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5048
    Latitude
    41.504
    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
    $430,649
    $1,377,640
    $2,554,440
    $3,932,080
    -
    $3,936,100
    $7,298,400
    $11,234,500

    Comparable in this City

    • Value Estimation
      $2,980,000
      124,276 SF

      1285 Som Ctr Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 124,276 SF
      1285 Som Ctr Rd, Mayfield Heights, OH 44124-2073
      View Details
    • Value Estimation
      $9,495,000
      144,516 SF

      1409 Golden Gate Plz

      WHOLESALE OUTLET, DISCOUNT STORE • 144,516 SF
      1409 Golden Gate Plz, Mayfield Heights, OH 44124
      View Details
    • Value Estimation
      $1,225,000
      47,149 SF

      1417 Golden Gate Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 47,149 SF
      1417 Golden Gate Blvd, Mayfield Heights, OH 44124-1808
      View Details
    • Value Estimation
      $2,665,000
      41,580 SF

      1401 Golden Gate Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 41,580 SF
      1401 Golden Gate Blvd, Mayfield Heights, OH 44124
      View Details
    • Value Estimation by Request
      2,480 SF

      6625 Mayfield Rd

      SHOPPING CENTER, STRIP CENTER • 2,480 SF
      6625 Mayfield Rd, Mayfield Heights, OH 44124-3201
      View Details
    • Value Estimation
      $540,000
      4,960 SF

      6391 Mayfield Rd, Unit 6431

      SHOPPING CENTER, STRIP CENTER • 4,960 SF
      6391 Mayfield Rd, Mayfield Heights, OH 44124-3212
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,170 SF

      Landerbrook Dr Restaurant - For Sale/Lease

      8,170 SF Restaurant, Prime Lyndhurst Location
      5835 Landerbrook Dr, Lyndhurst, OH 44124
      View Details
    • Contact for pricing
      10.00 Acres

      Mayfield Heights Commercial Land

      Prime 10-acre commercial land, Mayfield Rd.
      5900-5886 Mayfield Rd, Mayfield Heights, OH 44124
      View Details
    • Contact for pricing
      50,000 SF

      Class A Office Building Opportunity

      Two-story office building in Cleveland's strong suburban office market.
      6105 Parkland Blvd, Mayfield Heights, OH 44124
      View Details
    • $375,000
      8.13 Acres

      Madison Commercial Land Opportunity

      8.13 Acres, R-4 Zoning, $375,000
      2155 Hubbard Rd, Pepper Pike, OH 44124
      View Details
    • $90,000
      0.24 Acres

      Vacant Lot Near Amenities

      Spacious lot near shopping, dining, and highways in Mayfield Heights.
      Maplewood Rd, Cleveland, OH 44124
      View Details
    • Contact for pricing
      13.55 Acres

      Mayfield Heights Commercial Land

      13.5 Acres, Mixed-Use Development Potential
      5940 Mayfield Rd, Mayfield Heights, OH 44124
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      1,535 SF

      Mayfield Road Retail Space For Lease

      Lyndhurst, Ohio: 1,535 SF Retail Space
      5361 Mayfield Rd, Lyndhurst, OH 44124
      View Details
    • Contact for pricing
      93,723 SF

      Landerwood Plaza: Retail Office Space

      Cleveland Office & Retail Opportunity
      30950 Pinetree Rd, Cleveland, OH 44124
      View Details
    • Contact for pricing
      9,000 SF

      Anchored Shopping Center Retail Space

      Community shopping center with retail and automotive opportunities available.
      1641 Golden Gate Plz, Mayfield Heights, OH 44124
      View Details
    • Contact for pricing
      2,100 SF

      Mayfield Road Retail Space

      Lyndhurst retail space, high traffic area.
      5141 Mayfield Rd, Lyndhurst, OH 44124
      View Details
    • Contact for pricing
      373,190 SF

      Golden Gate Shopping Center - Mayfield Heights

      Prime Retail Space, Mayfield Heights, Ohio
      6420 Mayfield Rd, Mayfield Heights, OH 44124
      View Details
    • Contact for pricing
      137,133 SF

      Route 91 & 322 Corner Retail Site

      High-Visibility Mayfield Heights Retail Space
      6594 Mayfield Rd, Mayfield Heights, OH 44124
      View Details
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    Richmond Rd
    Lyndhurst, OH 44124
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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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