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    The Largest CRE Database in the US with Over 1 Million Listings

    16903 Fischer Rd Cleveland, OH 44107

    Sponsored
    For Sale
    Pending
    $430,000

    SINGLE_FAMILY - Cleveland, OH

    Type:Office
    Lot size:
    0.15 Acres
    Days on Market:
    43
    Last Refresh:
    Feb 3 at 2:06 pm

    Property Features for 16903 Fischer Rd

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Pending
    APN
    024-04-002
    Parking features
    Parking Lot
    Lot size
    0.15 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Steam, Hot Water(Heating)
    Cooling system
    Wall Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Michelle M Mehaffey

    Remax Beyond 2000 Realty (440) 842-7200

    Listing agent Michelle M Mehaffey (216) 233-8316 License #2004020883

    Listing date Dec 23, 2025

    MLS# 5128641

    Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    West Park Office Building Investment

    The Exeter Building is a well-maintained, character-rich 1929 brick office building in Cleveland's West Park neighborhood, near the Lakewood border. The property features six office suites, including two expansive second-floor units of approximately 1,100 square feet each. These units offer two private offices, a large reception or meeting room, a full kitchen and dining area, a private full bath, and generous storage. The main level includes four individual suites of various sizes, each with its own private bath. The building retains its original charm and architectural detail. Infrastructure improvements include new windows at the rear (double-hung on the second floor, glass block on the first), new skylights, a 2" spray foam roof with slate ice guard and eave heaters (2018), and two new boilers (2022) serving seven heating zones, each with an individual thermostat. Each unit has its own electric panel, meter, and window A/C unit. Additional features include three waterproofed basements with new drain tile and a private 9-car parking lot in the rear. Located just off Rocky River Drive, minutes from I-90 and Downtown Cleveland, the property sits on a lot of approximately 0.1453 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr Sheila Becking Physician LEUSCH Insurance Services ... Insurance Agency Balancing Room Ltd Physician CindySummer.com Spiritual Center spiritus massage Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.81501
    Latitude
    41.468109

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    FAQs

    What type of property is this?
    Office building - 1929 brick office building in Cleveland's West Park neighborhood.
    Where is this office building located?
    The property is located at 16903 Fischer Rd Cleveland, OH.
    What is the asking price?
    The asking price for this property is $430,000.
    What are key features of this property?
    This property features: - Prime location in Cleveland's West Park, near Lakewood, offering high desirability and accessibility.; - Character-rich 1929 brick building with original architectural details.; - Six office suites, including two large second-floor units with private offices, reception/meeting rooms, full kitchens, baths, and storage.
    (216) 233-8316
    Request Owner's contact information
    16903 Fischer Rd Cleveland, OH 44107
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    Cleveland, OH 44107
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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
    16903 Fischer Rd Cleveland, OH 44107
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    We can help!
    Listing Contact
    Michelle M Mehaffey
    Real Estate License ID: 2004020883
    (216) 233-8316
    Learn more
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