Wickliffe Commercial Property with
For Sale
Contact for pricing
30150 Lakeland Blvd, Wickliffe, OH 44092
3.22 acres with three buildings, retail, and warehouse space.
Property Size10,000 SF
Lot Size3.22 Acres
Price / SF$200
Days on Market318
Property Features for 30150 Lakeland Blvd
General Information
Standard status
Active
Size
10,000 SF
Class
C
Lot size
3.22 Acres
Property subtype
Industrial
Building Details
Year Built
1954
Stories
1
Listing Agency:
Berkshire Hathaway HomeServices Professional Realty Mason
Listed By:
David Mussari · License #BRKP.2007001761
Source:
Crexi
Added: Sep 29, 2025
Changed: Aug 8
Last Checked: Aug 12 at 11:27AM
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 Berkshire Hathaway HomeServices Professional Realty Mason
Investment Insights
Based on property information with market context.
This commercial property is situated on 3.22 acres in Wickliffe, Ohio, conveniently located off Route 2. The property includes three commercial buildings. One building features an updated retail area with three offices and two bathrooms. The rear of this building provides approximately 10,000 square feet of warehouse space, equipped with four dock doors and infrared tube heating. A large outdoor wood burner system, valued at $22,000, is present to potentially reduce gas heating costs. There is a tenant in the east side building, generating $3,500 in monthly rent. The building at the back of the property includes a large dock door and warehouse storage space. A newer $200,000 industrial digital scale is installed and ready for use. The property offers various potential uses.
Key Highlights
- Prime 3.22‑acre commercial property located right off Rt 2 in Wickliffe, Ohio.
- Includes three commercial buildings, offering diverse usage possibilities.
- One building features an updated retail area with offices and warehouse space (approx. 10,000 sq ft) with dock doors.
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
$111,024
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
5.55%
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%
$2,220,480
$2.2M
Cap Rate 7%
$1,586,057
$1.6M
Cap Rate 9%
$1,233,600
$1.2M
Market Conditions
NOI Build-Up for 10,000 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
$231.0K $23.10/SF
− Vacancy
−$53.4K −$5.34/SF
EGI
$177.6K $17.76/SF
− OpEx
−$66.6K −$6.66/SF
NOI
$111.0K $11.10/SF
Area
Lake County, OH
Vacancy
23.10%
Lease Rate
$23.10 /SF/Yr
Expense Ratio
37.50%
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%
$2,220,480
Cap Rate 7%
$1,586,057
Cap Rate 9%
$1,233,600
Alternative Uses
Best Use
Mixed Use
$1.59M
$1.39M – $1.85M
NOI $111,024 @ 7.0% cap · market cap 5.55%
Second Best
Retail
$1.34M
$1.17M – $1.56M
NOI $93,759 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$2.31M
$2.02M – $2.69M
NOI $161,675 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 44092, OH
16,786
Population
8,258
Households
2
Avg Household Size
43
Median Age
28%
College-Educated
95%
High-School Grad
7.4 sq mi
ZIP Area
2,268
Density / Sq Mi
$67,907
Median Household Income
$41,236
Median Earnings
$1,059
Median Rent
$167,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 3.22 acres with three buildings, retail, and warehouse space.
Where is this warehouse located?
The property is located at 30150 Lakeland Blvd Wickliffe, OH.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Prime 3.22‑acre commercial property located right off Rt 2 in Wickliffe, Ohio.; Includes three commercial buildings, offering diverse usage possibilities.; One building features an updated retail area with offices and warehouse space (approx. 10,000 sq ft) with dock doors.
