Building Details

Year Built 2006

Year Renovated 2013

Buildings 1

Stories 2

Units 1

Listing Agency: Russell Commercial Advisory

Listed By: Michael Pasadyn Jr · License #OH 2018001645 Show Phone

Source: Crexi

Added: Aug 3 Changed: Oct 2 Last Checked: Oct 5 at 7:07PM

Report an Issue

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 Russell Commercial Advisory

Investment Insights

Based on property information with market context.

This 2,800-square-foot medical office condominium was built in 2006 and is configured for professional healthcare use. The layout includes a reception and waiting area, private offices, several exam rooms, and a break room. The existing arrangement can also support conversion to a conventional office format, subject to applicable requirements.

Located at 36855 American Way in Avon, Ohio, the property offers direct access to the I-90 interchange, connecting the site with greater Cleveland and Lorain County. O-1 zoning supports its medical and office classification.

Key Highlights

• 2,800‑square‑foot medical office condominium
• O‑1 zoning for medical and office use
• Reception and waiting area with private offices

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,343

Cap Rate

8.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$706,860 $706.9K

Cap Rate 7%

$504,900 $504.9K

Cap Rate 9%

$392,700 $392.7K

Market Conditions

NOI Build-Up for 2,800 SF

Gross rent

$55.4K $19.80/SF

− Vacancy

−$8.3K −$2.97/SF

EGI

$47.1K $16.83/SF

− OpEx

−$11.8K −$4.21/SF

NOI

$35.3K $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%

$706,860

Cap Rate 7%

$504,900

Cap Rate 9%

$392,700

Alternative Uses

Best Use

Office B

$504.9K

$441.8K – $589.1K (±1% cap)

NOI $35,343 @ 7.0% cap · market cap 8.05%

Second Best

Healthcare Medical

$482.2K

$422.0K – $562.6K (±1% cap)

NOI $33,757 @ 7.0% cap · market cap 7.69%

Theoretical Best

Office A

$705.6K

$617.4K – $823.2K (±1% cap)

NOI $49,392 @ 7.0% cap · market cap 11.25%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Dr. Elaheh Zarchi, ... Dental Office Crowell Carolyn B Dental Office Dr. Charissa K. ... Dental Office Weston Dental Dental Office Dr. Maria Elena ... Dental Office

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply HVAC Service Electrical Service Garden Center Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

741

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 44011, OH

24,847

Population

9,782

Households

2.5

Avg Household Size

41

Median Age

59%

College-Educated

98%

High-School Grad

20.8 sq mi

ZIP Area

1,195

Density / Sq Mi

$126,618

Median Household Income

$67,143

Median Earnings

$1,446

Median Rent

$377,100

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Office Condo with Private Offices

2-c-36711 American Way, Avon, OH 44011

$299,000

View details

Avon Office Investment Opportunity

37040 Colorado Ave, Avon, OH 44011

$299,000

View details

Rebuilt Restaurant Property with Patio

36816 Detroit Rd, Avon, OH 44011

$1,150,000

2,108 SF

View details

Avon Flex Building on Colorado

37207 Colorado Avenue, Avon, OH 44011

$556,835

13,048 SF

View details

Multi-Building Retail Center

1443 Nagel Road, Avon, OH 44011

Contact for pricing

16,563 SF

View details

Profitable Investment Opportunity in Avon

36901 American Way, Avon, OH

Contact for pricing

0.47 Acres

View details

Similar Off Market Nearby

• Petco Vaccination Clinic — 35860 Chester Rd, Avon, OH 44011, United States

Frequently Asked Questions

What type of property is this?

Medical Office Space - O-1 condominium with a reception area, private offices, exam rooms, and staff break space.

Where is this medical office space located?

The property is located at 36855 American Way #2D Avon, OH.

What is the asking price?

The asking price for this property is $439,000.

What are key features of this property?

This property features: 2,800‑square‑foot medical office condominium; O‑1 zoning for medical and office use; Reception and waiting area with private offices