Office Building with 8,453
For Sale
Contact for pricing
18820 Bagley Rd, Cleveland, OH 44130
Office building available for sale, totaling 8,453 square feet.
Property Size8,453 SF
Price / SF$159.71
Days on Market161
Property Features for 18820 Bagley Rd
General Information
Standard status
Active
Size
8,453 SF
Class
C
Property subtype
Office
Zoning
OB
Building Details
Year Built
1985
Stories
1
Listing Agency:
Keller Williams Elevate
(216) 299-5092
Listed By:
Stacy Nugent · License #OH 2015003217
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 22 at 4:30PM
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.
This commercial property is an office building with a total area of 8,453 square feet. It is located in Cleveland, OH.
Key Highlights
- Office Space Available
- Boasting 8,453 SqFt
- Built in 1985
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
$83,442
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
6.18%
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%
$1,668,840
$1.7M
Cap Rate 7%
$1,192,029
$1.2M
Cap Rate 9%
$927,133
$927.1K
Market Conditions
NOI Build-Up for 8,453 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
$145.1K $17.16/SF
− Vacancy
−$33.8K −$4.00/SF
EGI
$111.3K $13.16/SF
− OpEx
−$27.8K −$3.29/SF
NOI
$83.4K $9.87/SF
Area
ZIP 44130
Vacancy
23.30%
Lease Rate
$17.16 /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%
$1,668,840
Cap Rate 7%
$1,192,029
Cap Rate 9%
$927,133
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,442 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,412 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44130, OH
50,825
Population
23,819
Households
2.1
Avg Household Size
45
Median Age
28%
College-Educated
92%
High-School Grad
17.1 sq mi
ZIP Area
2,972
Density / Sq Mi
$68,099
Median Household Income
$43,474
Median Earnings
$1,045
Median Rent
$184,900
Median Home Value
Market
Vacancy Rate% for Office in Cleveland, OH
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office space - Office building available for sale, totaling 8,453 square feet.
Where is this office space located?
The property is located at 18820 Bagley Rd Cleveland, OH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Office Space Available; Boasting 8,453 SqFt; Built in 1985
