Medical/Professional Office Space
For Sale
Contact for pricing
36855 American Way, Avon, OH
Located in a fast-growing trade area with high visibility.
Property Size2,836 SF
Lot Size1.22 Acres
Price / SF$167.49
Days on Market784
Property Features for 36855 American Way
General Information
Standard status
Active
Size
2,836 SF
Lot size
1.22 Acres
Property subtype
OFFICE
Listing Agency:
Goodman Real Estate
(440) 567-8768
Listed By:
Shaun Brady · License #SAL.2010003126
(440) 567-8768
Source:
Moodyscre
Added: Jun 17, 2024
Changed: Jul 10
Last Checked: Aug 9 at 8:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Goodman Real Estate
Investment Insights
Based on property information with market context.
This property, situated within Avon Pointe, is suitable for medical and professional services. It is located on Chester Road, west of the Interstate 90 and State Route 83 interchange, in the northwest quadrant of a rapidly developing regional trade area. The property offers prominent visibility to Interstate 90. The property size is 2836 square feet.
Key Highlights
- Prominent visibility to Interstate 90
- Located in a fast‑growing, regional trade area
- Positioned in the northwest quadrant of the I‑90 and State Route 83 interchange
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
$35,797
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
7.54%
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%
$715,940
$715.9K
Cap Rate 7%
$511,386
$511.4K
Cap Rate 9%
$397,744
$397.7K
Market Conditions
NOI Build-Up for 2,836 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
$56.2K $19.80/SF
− Vacancy
−$8.4K −$2.97/SF
EGI
$47.7K $16.83/SF
− OpEx
−$11.9K −$4.21/SF
NOI
$35.8K $12.62/SF
Area
Lorain County, OH
Vacancy
15.00%
Lease Rate
$19.80 /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%
$715,940
Cap Rate 7%
$511,386
Cap Rate 9%
$397,744
Alternative Uses
Best Use
Office B
$511.4K
$447.5K – $596.6K
NOI $35,797 @ 7.0% cap · market cap 7.54%
Second Best
Healthcare Medical
$488.4K
$427.4K – $569.9K
NOI $34,191 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$714.7K
$625.3K – $833.8K
NOI $50,027 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Petco Vaccination Clinic — 35860 Chester Rd, Avon, OH 44011, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Located in a fast-growing trade area with high visibility.
Where is this medical office space located?
The property is located at 36855 American Way Avon, OH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Prominent visibility to Interstate 90; Located in a fast‑growing, regional trade area; Positioned in the northwest quadrant of the I‑90 and State Route 83 interchange
