Storefront Commercial
New
For Sale
$495,000
35070 Center Ridge, North Ridgeville, OH 44039
CommercialSale, North Ridgeville, OH
Property Size2,562 SF
Lot Size1.06 Acres
Price / SF$193.21
Days on Market1
Property Features for 35070 Center Ridge
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business
Elementary school district
North Ridgeville CSD - 4711
Middle school district
North Ridgeville CSD - 4711
High school district
North Ridgeville CSD - 4711
Directions
Off Center Ridge
Standard status
Active
APN
07-00-021-116-055
Lot size
1.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6365
Utilities
Heating system
Natural Gas
Building Details
Year built
1967
Listing Agency:
Coldwell Banker Schmidt Realty · Coldwell Banker Real Estate
(440) 327-2123
Listed By:
Adrian T Frederick · License #160748
(440) 537-4686
Added: Sep 15
Last Checked: Sep 15 at 10:06PM
MLS# 5244315
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.
Investment Insights
Based on property information with market context.
This storefront commercial building at 35070 Center Ridge in North Ridgeville, Ohio, contains 2,562 square feet on a 1.06-acre parcel. Constructed in 1967, the property is currently used for carpet retail and offers a commercial layout that can support continued retail occupancy or a revised business configuration.
Natural gas heating serves the building. The property is located in North Ridgeville, within Lorain County, and carries the 44039 postal designation. Its existing storefront format and current retail use provide a defined starting point for an owner-user or commercial buyer evaluating the property.
Natural gas heating serves the building. The property is located in North Ridgeville, within Lorain County, and carries the 44039 postal designation. Its existing storefront format and current retail use provide a defined starting point for an owner-user or commercial buyer evaluating the property.
Key Highlights
- 2,562‑square‑foot commercial building
- 1.06‑acre parcel
- Currently used as a carpet store
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
$25,771
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
5.21%
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%
$515,420
$515.4K
Cap Rate 7%
$368,157
$368.2K
Cap Rate 9%
$286,344
$286.3K
Market Conditions
NOI Build-Up for 2,562 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
$38.4K $15.00/SF
− Vacancy
−$1.6K −$0.63/SF
EGI
$36.8K $14.37/SF
− OpEx
−$11.0K −$4.31/SF
NOI
$25.8K $10.06/SF
Area
Lorain County, OH
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$515,420
Cap Rate 7%
$368,157
Cap Rate 9%
$286,344
Alternative Uses
Best Use
Retail
$368.2K
$322.1K – $429.5K
NOI $25,771 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$645.6K
$564.9K – $753.2K
NOI $45,194 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
92k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 45%
Shops & Services 36%
Dining 18%
Electronics 1%
Marc's
Groceries
24,079 visits/mo
0.3 miles
Speedway
Shops & Services
18,521 visits/mo
0.0 miles
Aldi
Groceries
17,303 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
8,622 visits/mo
0.3 miles
Huntington Bank
Shops & Services
7,161 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Michael G's Florist — 36084 Center Ridge Rd, North Ridgeville, OH 44039
Frequently Asked Questions
What type of property is this?
Storefront property - Existing retail configuration provides a starting point for continued carpet sales or a new commercial operation.
Where is this storefront property located?
The property is located at 35070 Center Ridge North Ridgeville, OH.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,562‑square‑foot commercial building; 1.06‑acre parcel; Currently used as a carpet store
