Second-Floor Office
For Sale
Contact for pricing
1495 Warren Rd, Lakewood, OH 44107
Perimeter offices surround a central bullpen with kitchenette, while exterior signage is permitted.
Property Size12,000 SF
Price / SF$116.67
Days on Market177
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Property Features for 1495 Warren Rd
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
30
Property subtype
Office
Additional Details
Floor
2
Road Access
Yes
Amenities
kitchenette
Building Details
Year Built
1956
Stories
1
Tenancy
Multi
Listing Agency:
Cushman & Wakefield | CRESCO Real Estate
Listed By:
Alexander Russo · License #OH 0000250563
(216) 520-1200
Source:
Crexi
Added: Apr 22
Changed: Oct 10
Last Checked: Oct 14 at 11:36PM
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 Cushman & Wakefield | CRESCO Real Estate
Investment Insights
Based on property information with market context.
The full second level offers 5,000 SF of office space arranged with perimeter offices, a central bullpen, and a kitchenette. The configuration provides a mix of private and open work areas within the same suite, with exterior signage permitted for the occupant.
The property is located at 1495 Warren Rd in Lakewood, Ohio, with parking for 30 vehicles. Access to the parking area is available from Warren Rd and Franklin Blvd. The first floor is occupied by Howard Hanna and a dental practice, creating an established professional-office setting within the building.
The property is located at 1495 Warren Rd in Lakewood, Ohio, with parking for 30 vehicles. Access to the parking area is available from Warren Rd and Franklin Blvd. The first floor is occupied by Howard Hanna and a dental practice, creating an established professional-office setting within the building.
Key Highlights
- 5,000 SF entire second‑floor office suite
- Perimeter offices with central bullpen and kitchenette
- 30 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,833
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,576,660
$2.6M
Cap Rate 7%
$1,840,471
$1.8M
Cap Rate 9%
$1,431,478
$1.4M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$227.5K $18.96/SF
− Vacancy
−$55.7K −$4.65/SF
EGI
$171.8K $14.31/SF
− OpEx
−$42.9K −$3.58/SF
NOI
$128.8K $10.74/SF
Area
Cuyahoga County, OH
Vacancy
24.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,576,660
Cap Rate 7%
$1,840,471
Cap Rate 9%
$1,431,478
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.15M
NOI $128,833 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$9.61M
$8.41M – $11.22M
NOI $673,045 @ 7.0% cap · market cap 48.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,777
Businesses Nearby
Explore this area
Business Placement
Demographics for 44107, OH
51,109
Population
29,101
Households
1.8
Avg Household Size
36
Median Age
54%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
9,465
Density / Sq Mi
$65,778
Median Household Income
$49,285
Median Earnings
$1,011
Median Rent
$241,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office units - Perimeter offices surround a central bullpen with kitchenette, while exterior signage is permitted.
Where is this office units located?
The property is located at 1495 Warren Rd Lakewood, OH.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 5,000 SF entire second‑floor office suite; Perimeter offices with central bullpen and kitchenette; 30 parking spaces
