Modern Three-Office
For Sale
Contact for pricing
33420 Liberty Parkway, North Ridgeville, OH 44039
Updated office unit with private workrooms, a kitchenette, and convenient connections to I-90 and I-480.
Property Size871 SF
Price / SF$146.96
Days on Market59
Property Features for 33420 Liberty Parkway
General Information
Standard status
Active
Size
871 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
kitchenette/break area
Building Details
Year Built
1998
Stories
1
Listing Agency:
Cushman & Wakefield | CRESCO Real Estate
Listed By:
Brian Smith · License #OH SAL.2016001142
Source:
Crexi
Added: Aug 10
Changed: Sep 25
Last Checked: Oct 5 at 4:20PM
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 Cushman & Wakefield | CRESCO Real Estate
Investment Insights
Based on property information with market context.
This 871-square-foot office unit, built in 1998, combines three private offices with a kitchenette and break area. Interior updates include new flooring and modern décor, creating a professional setting for office-based operations.
The property is located in North Ridgeville with highway connections to I-90 and I-480 available through SR-83. The compact layout offers dedicated rooms for private work while retaining a shared support area for staff or visitors.
The property is located in North Ridgeville with highway connections to I-90 and I-480 available through SR-83. The compact layout offers dedicated rooms for private work while retaining a shared support area for staff or visitors.
Key Highlights
- 871 SF office unit built in 1998
- Three private offices for dedicated work areas
- Kitchenette and break area included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,994
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$219,880
$219.9K
Cap Rate 7%
$157,057
$157.1K
Cap Rate 9%
$122,156
$122.2K
Market Conditions
NOI Build-Up for 871 SF
Gross rent
$17.2K $19.80/SF
− Vacancy
−$2.6K −$2.97/SF
EGI
$14.7K $16.83/SF
− OpEx
−$3.7K −$4.21/SF
NOI
$11.0K $12.62/SF
Area
Lorain County, OH
Vacancy
15.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$219,880
Cap Rate 7%
$157,057
Cap Rate 9%
$122,156
Alternative Uses
Best Use
Office B
$157.1K
$137.4K – $183.2K
NOI $10,994 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$219.5K
$192.1K – $256.1K
NOI $15,364 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 44039, OH
35,630
Population
14,441
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
96%
High-School Grad
24.1 sq mi
ZIP Area
1,478
Density / Sq Mi
$94,128
Median Household Income
$53,988
Median Earnings
$1,067
Median Rent
$254,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Updated office unit with private workrooms, a kitchenette, and convenient connections to I-90 and I-480.
Where is this office units located?
The property is located at 33420 Liberty Parkway North Ridgeville, OH.
What is the asking price?
The asking price for this property is $128,000.
What are key features of this property?
This property features: 871 SF office unit built in 1998; Three private offices for dedicated work areas; Kitchenette and break area included
