Westlake Office Space
24610 Detroit Road, Westlake, OH 44145
For Sale
Contact for pricing
6,200 SF office space for lease in Westlake, Ohio.
Property Size6,200 SF
Price / SF$0.00
Days on Market230
Property Features for 24610 Detroit Road
General Information
Standard status
Size
Property subtype
Listing Agency:
CBRE - Cleveland
Listed By:
Mike Petrigan · License #SAL.0000435412
(216) 363-6435
Source:
Cbre
Added: Mar 25
Changed: Oct 27
Last Checked: Nov 8 at 2:48AM
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 CBRE - Cleveland
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Investment Insights
Based on property information with market context.
This commercial real estate property offers 6,200 square feet of office space available for rent. Located in Westlake, Ohio, the property is suitable for office units and spaces. The location is 24610 Detroit Road, Westlake, OH, 44145. The list price is $18.
Key Highlights
- 6,200 SF office space available, perfect for your business needs.
- Located in Westlake, Ohio, offering a desirable business address.
- Property is for lease.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,564
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,331,280
$1.3M
Cap Rate 7%
$950,914
$950.9K
Cap Rate 9%
$739,600
$739.6K
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$117.6K $18.96/SF
− Vacancy
−$28.8K −$4.65/SF
EGI
$88.8K $14.31/SF
− OpEx
−$22.2K −$3.58/SF
NOI
$66.6K $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%
$1,331,280
Cap Rate 7%
$950,914
Cap Rate 9%
$739,600
Alternative Uses
Best Use
Office B
$950.9K
$832.1K – $1.11M
NOI $66,564 @ 7.0% cap · market cap 369,800.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,620 @ 7.0% cap · market cap 447,888.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
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Business Placement
Demographics for 44145, OH
34,228
Population
15,781
Households
2.2
Avg Household Size
47
Median Age
58%
College-Educated
96%
High-School Grad
15.9 sq mi
ZIP Area
2,153
Density / Sq Mi
$110,101
Median Household Income
$63,385
Median Earnings
$1,480
Median Rent
$336,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Cuyahoga County, OH
Properties on Market for Office Units in Cuyahoga County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - 6,200 SF office space for lease in Westlake, Ohio.
Where is this office unit located?
The property is located at 24610 Detroit Road Westlake, OH.
What are key features of this property?
This property features: 6,200 SF office space available, perfect for your business needs.; Located in Westlake, Ohio, offering a desirable business address.; Property is for lease.
