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    Versatile Commercial Space in Westlake Title is generated by Realmo AI

    26949 Center Ridge Road, Westlake, OH 44145

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    For Lease
    $1.00 SF/Yr $416/Mo (calc)

    COMMERCIAL - Westlake, OH

    Property size:
    5,000 SF
    Lot size:
    0.06 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    31
    Last Refresh:
    May 16 at 7:06 pm

    Property Features for 26949 Center Ridge Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Rooms
    Basement
    Parking
    30
    Standard status
    Active
    APN
    215-01-027
    Size
    5,000 SF
    Lot size
    0.06 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1952
    Floors in Building
    2
    Number of units
    3
    Roof type
    Asphalt, Fiberglass, Flat

    We can help!

    Listing Contact
    James P Matheos

    Listing agent James P Matheos License #2015001911

    Listing office Keller Williams Citywide 2001 Crocker Road, Suite 200, Westlake, OH

    Listing date Apr 16, 2026

    MLS# 5202092

    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.

    HighLights

    • High‑visibility location on Center Ridge Rd with high traffic counts.
    • Flexible lease space suitable for retail, office, and warehouse/commercial storage.
    • Ample parking with 30+ off‑street spots and front/rear access.
    • Multi‑use zoning allows for retail, office, warehouse, or commercial businesses.
    • Existing signage opportunities on the building face and possible roof signage.
    • Large bay/warehouse space with high bay and overhead door.

    Overview

    This commercial property in Westlake, Ohio, offers flexible lease space suitable for various uses. The property features high visibility and traffic counts on Center Ridge Road, just east of Dover Center Road. Over 5,000 square feet is available, including approximately 2,500 square feet of retail/flex space with access to a rear bay door and a large storefront suitable for various business types. There is also about 1,000 square feet of retail office space and approximately 1,800 square feet of high bay warehouse space at the rear with a large overhead door. The property includes an estimated 30+ off-street parking spots, with entrances from Center Ridge Road in the front and Westwood Road at the rear. Existing signage is grandfathered in on the building face and possible roof signage. Access is available from both Center Ridge Road and Westwood Road. The property is located in a multi-use zone suitable for retail, office, warehouse, and commercial purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Well Done Catering — 25022 Center Ridge Rd, Westlake, OH 44145

    Location Insight

    • Map
    • Local Demand
    City
    Westlake
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.9298
    Latitude
    41.4525

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    FAQs

    What type of property is this?
    Flex space - Flexible retail, office, and warehouse space with high visibility.
    Where is this flex space located?
    The property is located at 26949 Center Ridge Road Westlake, OH.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: High‑visibility location on Center Ridge Rd with high traffic counts.; Flexible lease space suitable for retail, office, and warehouse/commercial storage.; Ample parking with 30+ off‑street spots and front/rear access.
    (440) 847-9033
    We can help!
    Listing Contact
    James P Matheos
    Real Estate License ID: 2015001911
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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