Renovated Two-Story Office
For Sale
$1,200,000
22100 Mastick Road, Fairview Park, OH 44126
CommercialSale, Fairview Park, OH
Property Size6,680 SF
Lot Size2.64 Acres
Price / SF$179.64
Days on Market342
Property Features for 22100 Mastick Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking
40
Parking features
Parking Lot, Garage
Elementary school district
Fairview Park CSD - 1814
Middle school district
Fairview Park CSD - 1814
High school district
Fairview Park CSD - 1814
Directions
Property is near the intersection of W. 220th and Mastick on the South side of the street. Land parcel runs parallel to I-480 East.
Standard status
Active
APN
331-13-052
Lot size
2.64 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
VOL 381 PG 41 SUBLOT L FF 133.33 D 237.45 2.645 ACRES 5 OL ADDITIONAL PARCELS 33113024 THRU 026 AND 33113030 THRU 044 2016 SR
Tax Annual Amount
26266
Legal Description
VOL 381 PG 41 SUBLOT L FF 133.33 D 237.45 2.645 ACRES 5 OL ADDITIONAL PARCELS 33113024 THRU 026 AND 33113030 THRU 044 2016 SR
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
elevator
community room
Building Details
Year built
1970
Floors in Building
2
Roof type
Composition
Listing Agency:
RE/MAX Above & Beyond · RE/MAX International
(440) 835-7200
Listed By:
Nicholas Hardy · License #2022007225
(216) 799-9333
Added: Sep 24, 2025
Changed: Aug 20
Last Checked: Aug 31 at 9:06AM
MLS# 5159336
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story office building was constructed in 1970 and renovated in 2014. The interior includes three private offices and a larger meeting room upstairs, along with a community room, kitchen areas on both floors, and a dishwasher upstairs. Glass dividers downstairs allow the space to be arranged into separate gathering areas. Men’s and women’s bathrooms are located on each floor, and the building has a hydraulic elevator with a current permit. Heating is provided by forced-air natural gas, with central air conditioning.
The property encompasses 2.64 acres, including the adjacent 2 acres. On-site parking includes a surface lot with forty (40) spaces and an attached two car garage. Public water and public sewer serve the property. The site offers access to I-480 and I-71 and is near Cleveland Hopkins International Airport. The property is being sold as is where is, with development-related diligence to be completed with the city and county.
The property encompasses 2.64 acres, including the adjacent 2 acres. On-site parking includes a surface lot with forty (40) spaces and an attached two car garage. Public water and public sewer serve the property. The site offers access to I-480 and I-71 and is near Cleveland Hopkins International Airport. The property is being sold as is where is, with development-related diligence to be completed with the city and county.
Key Highlights
- 2.64‑acre property includes the adjacent 2 acres
- Two‑story building constructed in 1970 and renovated in 2014
- Three upstairs offices, meeting room, community room, and partitionable gathering areas
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
$71,717
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
5.98%
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%
$1,434,340
$1.4M
Cap Rate 7%
$1,024,529
$1.0M
Cap Rate 9%
$796,856
$796.9K
Market Conditions
NOI Build-Up for 6,680 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
$126.7K $18.96/SF
− Vacancy
−$31.0K −$4.65/SF
EGI
$95.6K $14.31/SF
− OpEx
−$23.9K −$3.58/SF
NOI
$71.7K $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%
$1,434,340
Cap Rate 7%
$1,024,529
Cap Rate 9%
$796,856
Alternative Uses
Best Use
Office B
$1.02M
$896.5K – $1.20M
NOI $71,717 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.35M
$4.68M – $6.24M
NOI $374,661 @ 7.0% cap · market cap 31.22%
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 - Flexible office layout with meeting, community, kitchen, and partitionable gathering areas across two floors.
Where is this office building located?
The property is located at 22100 Mastick Road 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 property includes the adjacent 2 acres; Two‑story building constructed in 1970 and renovated in 2014; Three upstairs offices, meeting room, community room, and partitionable gathering areas
