Updated Office Space in
For Sale
$249,900
10750 Pearl Rd UNIT E-4 Unit E-4, Cleveland, OH 44136
Fully Updated Office Space
Property Size808 SF
Price / SF$309.28
Days on Market380
Property Features for 10750 Pearl Rd UNIT E-4 Unit E-4
General Information
Standard status
Active
Property type
Creative space, Other office properties, Office Spaces
Size
808 SF
Class
C
Elevators
N/A
Investment Type
Owner User
Building Details
Year Renovated
2023
Buildings
1
Stories
2
Listed By:
Christine Revay
(440) 376-4181
Added: Aug 19, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located in Albion Place Professional Offices in Strongsville, this fully renovated office condo offers a professional space suitable for a range of businesses. The interior features wood-style laminate flooring and a black-and-white design. The reception area includes space for clients, a custom wood-accented reception desk with a butcher block counter, and a light fixture. The updated kitchenette has two-tone black and white cabinetry, a butcher block countertop, a stainless steel deep sink, and an under-counter refrigerator. The bathroom features a smart mirror and finishes. The condo includes two general-use rooms suitable for private offices, treatment rooms, or collaborative workspace, along with a storage area currently used as a private office space. Situated on Pearl Road, the property offers visibility and access for clients within a maintained office community. The space is suitable for a small business owner, medical, wellness, legal, financial, or creative professionals seeking a turnkey space. The property is located a couple miles from the highway.
Key Highlights
- fully updated in high end finishes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,995
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,900
$219.9K
Cap Rate 7%
$157,071
$157.1K
Cap Rate 9%
$122,167
$122.2K
Market Conditions
NOI Build-Up for 808 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.3K $22.68/SF
− Vacancy
−$3.7K −$4.54/SF
EGI
$14.7K $18.14/SF
− OpEx
−$3.7K −$4.54/SF
NOI
$11.0K $13.61/SF
Area
Cleveland, OH
Vacancy
20.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,900
Cap Rate 7%
$157,071
Cap Rate 9%
$122,167
Alternative Uses
Best Use
Office B
$157.1K
$137.4K – $183.3K
NOI $10,995 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$197.2K
$172.5K – $230.0K
NOI $13,802 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 44136, OH
25,890
Population
11,019
Households
2.3
Avg Household Size
45
Median Age
46%
College-Educated
94%
High-School Grad
13.5 sq mi
ZIP Area
1,918
Density / Sq Mi
$93,713
Median Household Income
$55,616
Median Earnings
$1,264
Median Rent
$271,300
Median Home Value
Market
Vacancy Rate% for Office in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Fully Updated Office Space
Where is this creative space located?
The property is located at 10750 Pearl Rd UNIT E-4 Unit E-4 Cleveland, OH.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: fully updated in high end finishes
