Two-Story Office Building with
For Sale
Contact for pricing
Pending
22100 Mastick Rd, Fairview Park, OH 44126
Commercially zoned property with multiple offices, meeting areas, kitchens, restrooms, and adaptable interior gathering spaces.
Property Size6,680 SF
Lot Size2.64 Acres
Days on Market319
Property Features for 22100 Mastick Rd
General Information
Standard status
Pending
Size
6,680 SF
Class
C
Total Parking Spaces
40
Elevators
Yes
Lot size
2.64 Acres
Property subtype
Land, Office
Zoning
Commercial
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial
Amenities
bathrooms
kitchen units
dishwasher
glass dividers
meeting room
community room
Building Details
Year Built
1970
Year Renovated
2014
Buildings
1
Stories
2
Building Size
6,680 SF
Listing Agency:
RE/MAX Beyond 2000 Realty Co.
Listed By:
Nicholas Hardy · License #SAL.2022007225
Source:
Crexi
Added: Oct 17, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:27PM
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 RE/MAX Beyond 2000 Realty Co.
Investment Insights
Based on property information with market context.
This two-story office building sits on a 2.64-acre commercial property and includes surface parking for 40 vehicles plus an attached two-car garage. Constructed in 1970 and renovated in 2014, the building contains three private offices and a larger meeting room on the upper level, along with a community room. Glass dividers on the first floor allow the interior to be arranged into separate gathering areas. Restrooms are located on both floors, and kitchen areas are present on each level; the upper kitchen includes a dishwasher, while refrigerators are not currently installed.
The property is located near I-480 and I-71, with access to Cleveland Hopkins International Airport. A hydraulic elevator is reported up to date, as are the fire extinguishers. The property was formerly occupied by Laumer Corrigan Funeral Home, with the last funeral held in 2015, and is offered as-is, where-is.
The property is located near I-480 and I-71, with access to Cleveland Hopkins International Airport. A hydraulic elevator is reported up to date, as are the fire extinguishers. The property was formerly occupied by Laumer Corrigan Funeral Home, with the last funeral held in 2015, and is offered as-is, where-is.
Key Highlights
- 2.64‑acre commercial property with the building and adjacent land included
- Surface parking for 40 vehicles plus an attached two‑car garage
- Two‑story building constructed in 1970 and renovated in 2014
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
$73,435
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
6.12%
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%
$1,468,700
$1.5M
Cap Rate 7%
$1,049,071
$1.0M
Cap Rate 9%
$815,944
$815.9K
Market Conditions
NOI Build-Up for 6,840 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
$129.7K $18.96/SF
− Vacancy
−$31.8K −$4.65/SF
EGI
$97.9K $14.31/SF
− OpEx
−$24.5K −$3.58/SF
NOI
$73.4K $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 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%
$1,468,700
Cap Rate 7%
$1,049,071
Cap Rate 9%
$815,944
Alternative Uses
Best Use
Office B
$1.05M
$917.9K – $1.22M
NOI $73,435 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.48M
$4.80M – $6.39M
NOI $383,635 @ 7.0% cap · market cap 31.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 44126, OH
17,235
Population
8,099
Households
2.1
Avg Household Size
43
Median Age
47%
College-Educated
96%
High-School Grad
4.5 sq mi
ZIP Area
3,830
Density / Sq Mi
$77,944
Median Household Income
$49,851
Median Earnings
$966
Median Rent
$225,800
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 - Commercially zoned property with multiple offices, meeting areas, kitchens, restrooms, and adaptable interior gathering spaces.
Where is this office building located?
The property is located at 22100 Mastick Rd Fairview Park, OH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2.64‑acre commercial property with the building and adjacent land included; Surface parking for 40 vehicles plus an attached two‑car garage; Two‑story building constructed in 1970 and renovated in 2014
