Office-Warehouse Flex
For Sale
Contact for pricing
30405 Solon Road, Solon, OH 44139
Condo-format flex space combines office and warehouse functions in one commercial unit.
Property Size1,800 SF
Price / SF$119.44
Days on Market8
Property Features for 30405 Solon Road
General Information
Standard status
Active
Size
1,800 SF
Class
B
Property subtype
Office, Industrial
Listing Agency:
Hanna Commercial Real Estate Cleveland
Listed By:
David R. Stover · License #OH SAL.0000368792
Source:
Crexi
Added: Aug 26
Changed: Sep 1
Last Checked: Sep 1 at 10:30PM
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 Hanna Commercial Real Estate Cleveland
Investment Insights
Based on property information with market context.
Located at 30405 Solon Road in Solon, Ohio, this 1,800-square-foot condominium unit combines office and warehouse components within a flex-space configuration. The property is classified as a flex space and is offered as a commercial condominium.
Key Highlights
- 1,800 SF office and warehouse condominium unit
- Flex‑space configuration combining office and warehouse functions
- Located at 30405 Solon Road, Solon, OH 44139
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
$19,325
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
8.99%
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%
$386,500
$386.5K
Cap Rate 7%
$276,071
$276.1K
Cap Rate 9%
$214,722
$214.7K
Market Conditions
NOI Build-Up for 1,800 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
$34.1K $18.96/SF
− Vacancy
−$8.4K −$4.65/SF
EGI
$25.8K $14.31/SF
− OpEx
−$6.4K −$3.58/SF
NOI
$19.3K $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%
$386,500
Cap Rate 7%
$276,071
Cap Rate 9%
$214,722
Alternative Uses
Best Use
Warehouse
$1.44M
$1.26M – $1.68M
NOI $100,957 @ 7.0% cap · market cap 46.96%
Second Best
Industrial
$1.19M
$1.04M – $1.39M
NOI $83,141 @ 7.0% cap · market cap 38.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44139, OH
25,331
Population
9,347
Households
2.7
Avg Household Size
44
Median Age
63%
College-Educated
95%
High-School Grad
22.9 sq mi
ZIP Area
1,106
Density / Sq Mi
$134,924
Median Household Income
$73,281
Median Earnings
$1,468
Median Rent
$373,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- DA LUX KITCHEN — 6150 Enterprise Pkwy, Solon, OH 44139
Frequently Asked Questions
What type of property is this?
Flex space - Condo-format flex space combines office and warehouse functions in one commercial unit.
Where is this flex space located?
The property is located at 30405 Solon Road Solon, OH.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 1,800 SF office and warehouse condominium unit; Flex‑space configuration combining office and warehouse functions; Located at 30405 Solon Road, Solon, OH 44139
