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    Avon Lake Commercial Office Condos Title is generated by Realmo AI

    33398 Walker, Avon Lake, OH 44012

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    Claim this Listing
    For Sale
    Under Contract
    $159,500

    SINGLE_FAMILY - Avon Lake, OH

    Type:Office
    Lot size:
    1.00 Acre
    Added:
    Mar 5, 2024
    Days on Market:
    800
    Last Refresh:
    May 14 at 7:06 am

    Property Features for 33398 Walker

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active Under Contract
    APN
    04-00-007-701-004
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4347

    Utilities

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

    Building Details

    Year built
    1989
    Roof type
    Fiberglass, Asphalt

    We can help!

    Listing Contact
    Christopher A Frederick

    Listing agent Christopher A Frederick License #426983

    Listing office Coldwell Banker Schmidt Realty 32648 Center Ridge Road, Strongsville, OH

    Listing date Mar 5, 2024

    MLS# 5021709

    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

    • Prime location in desirable Avon Lake with high traffic visibility.
    • Two adjacent commercial office condos available, offering flexibility to purchase one or both.
    • Units can be combined or used separately, each with its own entrance/exit.
    • Ample parking available in a well‑maintained condo complex.
    • Multiple exam rooms in each unit, suitable for medical or professional offices.
    • Vacant with fast occupancy available.

    Overview

    Two adjacent professional commercial office condos, formerly doctor's offices, are available for purchase in a desirable Avon Lake location. The units can be purchased individually or combined, each featuring a separate entrance and exit. Unit "E" is a single-story layout with a large lobby/main area, four exam rooms, one bathroom, and an office/reception area. Unit "D" includes a lobby area, four exam rooms on the main floor, one bathroom, an office/reception area, and a second floor with two additional rooms, one of which has a wet sink, suitable as a break area and office space. The condo complex is well-maintained and benefits from ample parking and visibility from high-traffic main roads. The location offers an opportunity for business expansion or growth. The units are currently vacant, allowing for immediate occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Avon Lake Family ... Dental Office Prestien Karen Dental Office Lynch Korrine Dental Office Nepomuceno Lois Dental Office Avon Lake Eye ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Paws by the Lake Pet Resort — 33757 Lake Rd, Avon Lake, OH 44012

    Location Insight

    • Map
    • Local Demand
    City
    Avon Lake
    County
    Lorain
    State
    Ohio
    Longitude
    -82.046311
    Latitude
    41.493688

    Nearby Similar for Sale

    • $159,500
      1,228 SF

      Avon Lake Professional Office Condos

      Two commercial condos in prime Avon Lake location for sale.
      33398 Walker Rd D, Avon Lake, OH 44012
      View Details
    • $600,000
      4,000 SF

      Retail/Office Space on Walker Rd

      Retail/Office space available for sale on Walker Rd.
      33680 Walker Rd, Avon Lake, OH
      View Details
    • $400,000
      2,136 SF

      Avon Lake Warehouse with Office

      Small office with warehouse space, near I-90 in Avon Lake.
      32961 Pin Oak Pkwy, Avon Lake, OH
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Two professional office condos in prime Avon Lake location.
    Where is this medical office space located?
    The property is located at 33398 Walker Avon Lake, OH.
    What is the asking price?
    The asking price for this property is $159,500.
    What are key features of this property?
    This property features: Prime location in desirable Avon Lake with high traffic visibility.; Two adjacent commercial office condos available, offering flexibility to purchase one or both.; Units can be combined or used separately, each with its own entrance/exit.
    (216) 210-7653
    We can help!
    Listing Contact
    Christopher A Frederick
    Real Estate License ID: 426983
    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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