Storefront Retail
For Sale
$495,000
35070 Center Ridge, North Ridgeville, OH 44039
The building currently supports carpet-store use and offers space for a new business concept.
Property Size2,562 SF
Price / SF$193.21
Days on Market9
Property Features for 35070 Center Ridge
General Information
Standard status
Active
Size
2,562 SF
Building Details
Year Built
1967
Listing Agency:
Coldwell Banker Schmidt Realty
Listed By:
Adrian T Frederick · License #160748
(216) 469-4854
Source:
Theacclaimedrealty
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 22 at 7:39PM
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 Coldwell Banker Schmidt Realty
Investment Insights
Based on property information with market context.
This 2,562-square-foot storefront retail property is currently occupied by a carpet store. The building provides a commercial setting that can be reconfigured for a different business concept, subject to applicable requirements.
Constructed in 1967, the property is located at 35070 Center Ridge in North Ridgeville, Ohio. Its existing retail format provides a foundation for continued commercial use or an owner-operated business.
Constructed in 1967, the property is located at 35070 Center Ridge in North Ridgeville, Ohio. Its existing retail format provides a foundation for continued commercial use or an owner-operated business.
Key Highlights
- 2,562‑square‑foot commercial building
- Currently used as a carpet store
- Adaptable space for a different business concept
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
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 - The building currently supports carpet-store use and offers space for a new business concept.
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; Currently used as a carpet store; Adaptable space for a different business concept
