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Building Details

Year Built 1970

Year Renovated 2014

Buildings 1

Stories 2

Building Size 6,680 SF

Listing Agency: RE/MAX Above & Beyond

Listed By: Nicholas Hardy · License #2022007225 Show Phone

Source: Thelindsayteam

Added: Apr 24 Changed: Oct 8 Last Checked: Oct 15 at 3:57AM

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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.

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 / Yr

$73,435

Cap Rate

6.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,468,700 $1.5M

Cap Rate 7%

$1,049,071 $1.0M

Cap Rate 9%

$815,944 $815.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,840 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $383,635 @ 7.0% cap · market cap 31.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Restaurant Real Estate Agency Building Supply Dental Office Auto Repair Shop Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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