Storefront Retail
35070 Center Ridge, North Ridgeville, OH 44039
For Sale
$495,000
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 Market55
Property Features for 35070 Center Ridge
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
Coldwell Banker Schmidt Realty
Listed By:
Adrian T Frederick · License #160748
(216) 469-4854
Source:
Theacclaimedrealty
Added: Sep 16
Changed: Oct 25
Last Checked: Oct 7 at 2:03PM
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
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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 / Yr
$25,771
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Properties on Market for Storefront properties in Lorain County
Vacancy Rate% for Retail in Midwest region
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
