Rocky River Office Ready to
1260 Smith Court Rocky River OH 44116, Rocky River, OH 44116
- Added:
- Jan 9, 2025
- Days on Market:
- 544
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 1260 Smith Court Rocky River OH 44116
General Information
- Standard status
- Active
- Property type
- Office buildings, Medical Office Space, Other office properties, Office Spaces
- Size
- 2,000 SF
- Elevators
- N/A
- Lot size
- 0.23 Acres
Building Details
- Year Built
- 1917
- Stories
- 2
Listing agent Dan (330) 856-7777
Listing office (330) 856-7777
Listing date Jan 9, 2025
Overview
Located in Rocky River, Ohio, this office building offers approximately 2,000 square feet of space. The property, previously a coin shop, is situated in a prime location and is ready for renovation. The main floor provides about 1,428 square feet, including a bathroom and breakroom area ready for customization. The second floor adds approximately 525 square feet and features a high vaulted ceiling. The building is located on a 0.23-acre lot, offering space for potential expansion. The existing layout provides a foundation for a complete renovation, allowing for a customized space. This location is suitable for a variety of office uses.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.0k | $21.00 |
| − Vacancy | −$5.3k | −$2.63 |
| EGI | $36.8k | $18.38 |
| − OpEx | −$14.7k | −$7.35 |
| NOI | $22.1k | $11.03 |
2,000 SF · lease $21.00/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$315.0K
$275.6K – $367.5K
NOI $22,050 @ 7.0% cap · market cap 5.65%
Second Best
Office B
$306.7K
$268.4K – $357.9K
NOI $21,472 @ 7.0% cap · market cap 5.51%
Theoretical Best
Warehouse
$1.60M
$1.40M – $1.87M
NOI $112,174 @ 7.0% cap · market cap 28.76%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Map
- City
- Rocky River
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.8524
- Latitude
- 41.4702
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Office | Rocky River, OH
Where is this office building located?
The property is located at 1260 Smith Court Rocky River OH 44116 Rocky River, OH.
What is the asking price?
The asking price for this property is $390,000.
