Versatile Commercial Space in
For Sale
Contact for pricing
Pending
12703 Triskett Rd, Cleveland, OH 44111
Flexible commercial property with warehouse and office space, great access.
Property Size5,000 SF
Days on Market194
Property Features for 12703 Triskett Rd
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Industrial, Office
Building Details
Buildings
1
Stories
2
Listing Agency:
Keller Williams Elevate
(440) 241-2179
Listed By:
Robert Damm · License #2017000388
Source:
Crexi
Added: Feb 5
Changed: Aug 14
Last Checked: Aug 17 at 7:35AM
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 Keller Williams Elevate
Investment Insights
Based on property information with market context.
Located in Cleveland’s west side corridor at 12703 Triskett Road, this property offers a versatile commercial opportunity suitable for owner-users or investors. It features approximately 1,500 square feet of garage/warehouse space, along with additional first-floor storage and office areas. The layout allows for efficient operations and separation of uses. The second floor is dedicated to office space with additional storage. This property is well-suited for contractors, service businesses, light industrial users, or creative office setups. Situated minutes from the W. 117th Street on-ramp to I-90, it provides quick regional access and connectivity throughout Greater Cleveland. The property has mixed-use functionality.
Key Highlights
- Excellent access to I‑90 via W. 117th Street on‑ramp for quick regional connectivity.
- Versatile commercial space suitable for owner‑users or investors.
- Mixed‑use functionality with approximately 1,500 SF garage/warehouse, office space, and storage.
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
$30,752
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
7.99%
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%
$615,040
$615.0K
Cap Rate 7%
$439,314
$439.3K
Cap Rate 9%
$341,689
$341.7K
Market Conditions
NOI Build-Up for 5,000 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
$49.8K $9.96/SF
− Vacancy
−$2.5K −$0.50/SF
EGI
$47.3K $9.46/SF
− OpEx
−$16.6K −$3.31/SF
NOI
$30.8K $6.15/SF
Area
ZIP 44111
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$615,040
Cap Rate 7%
$439,314
Cap Rate 9%
$341,689
Alternative Uses
Best Use
Flex RnD
$439.3K
$384.4K – $512.5K
NOI $30,752 @ 7.0% cap · market cap 7.99%
Second Best
Industrial
$274.7K
$240.3K – $320.5K
NOI $19,227 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$941.4K
$823.8K – $1.10M
NOI $65,901 @ 7.0% cap · market cap 17.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
Median Home Value
Market
Vacancy Rate% for Industrial in Cleveland, OH
Questions? Ask Rey
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Similar Off Market Nearby
- T&B Catering LLC — 13815 Lorain Ave, Cleveland, OH 44111
- Damas Catering Abu Issam — 13710 Lorain Ave, Cleveland, OH 44111
- Big Kahuna Pineapple Drink Company LLC — 12610 Triskett Rd m19, Cleveland, OH 44111
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial property with warehouse and office space, great access.
Where is this flex space located?
The property is located at 12703 Triskett Rd Cleveland, OH.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Excellent access to I‑90 via W. 117th Street on‑ramp for quick regional connectivity.; Versatile commercial space suitable for owner‑users or investors.; Mixed‑use functionality with approximately 1,500 SF **garage/warehouse, office space, and storage.**
