Rocky River Office Ready to
For Sale
$390,000
1260 Smith Court Rocky River OH 44116, Rocky River, OH 44116
Office | Rocky River, OH
Property Size2,000 SF
Lot Size0.23 Acres
Price / SF$195
Days on Market592
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 Agency:
(330) 856-7777
Listed By:
Dan
(330) 856-7777
Added: Jan 9, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
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.
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
$22,050
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
5.65%
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%
$441,000
$441.0K
Cap Rate 7%
$315,000
$315.0K
Cap Rate 9%
$245,000
$245.0K
Market Conditions
NOI Build-Up for 2,000 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
$42.0K $21.00/SF
− Vacancy
−$5.3K −$2.63/SF
EGI
$36.8K $18.38/SF
− OpEx
−$14.7K −$7.35/SF
NOI
$22.1K $11.03/SF
Area
Cuyahoga County, OH
Vacancy
12.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$441,000
Cap Rate 7%
$315,000
Cap Rate 9%
$245,000
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 authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 44116, OH
21,821
Population
10,484
Households
2.1
Avg Household Size
45
Median Age
64%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
4,453
Density / Sq Mi
$93,532
Median Household Income
$60,738
Median Earnings
$1,146
Median Rent
$327,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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.
