Versatile Commercial Condo For
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33472 Liberty, North Ridgeville, OH 44039
Commercial condo with office and warehouse space in Ridgeville, OH.
Property Size2,100 SF
Price / SF$85.71
Days on Market195
Property Features for 33472 Liberty
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Special Purpose
Listing Agency:
CENTURY 21 HomeStar
Listed By:
India Burks · License #OH 2021004188
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 11 at 9:55AM
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 CENTURY 21 HomeStar
Investment Insights
Based on property information with market context.
This commercial condo, located at 33472 Liberty Parkway N. in Ridgeville, OH, offers approximately 2,100 sq. ft. of versatile space suitable for various business operations. The unit features a functional layout that includes two private office suites and a large, open warehouse area, providing flexibility for operations, storage, or light industrial use. The property includes both men’s and women’s restrooms, enhancing convenience for staff and clients. This condo-style ownership is an option for owner-users or investors seeking a well-located commercial property.
Key Highlights
- Versatile 2,100 sq. ft. commercial condo.
- Functional layout suitable for various business uses.
- Includes two private office suites and a large open warehouse area.
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
$9,633
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
5.35%
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%
$192,660
$192.7K
Cap Rate 7%
$137,614
$137.6K
Cap Rate 9%
$107,033
$107.0K
Market Conditions
NOI Build-Up for 2,100 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
$11.8K $5.61/SF
− Vacancy
−$448 −$0.21/SF
EGI
$11.3K $5.40/SF
− OpEx
−$1.7K −$0.81/SF
NOI
$9.6K $4.59/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /SF/Yr
Expense Ratio
15.00%
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%
$192,660
Cap Rate 7%
$137,614
Cap Rate 9%
$107,033
Alternative Uses
Best Use
Warehouse
$137.6K
$120.4K – $160.6K
NOI $9,633 @ 7.0% cap · market cap 5.35%
Second Best
Flex RnD
$124.2K
$108.7K – $144.9K
NOI $8,694 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$529.2K
$463.1K – $617.4K
NOI $37,044 @ 7.0% cap · market cap 20.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial condo with office and warehouse space in Ridgeville, OH.
Where is this flex space located?
The property is located at 33472 Liberty North Ridgeville, OH.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Versatile 2,100 sq. ft. commercial condo.; Functional layout suitable for various business uses.; Includes **two private office suites** and a **large open warehouse area**.
