Flex Facility with Expansion
3950 Ben Hur Avenue, Willoughby, OH 44094
For Sale
$1,595,000
Renovated office space and industrial operations areas support immediate occupancy and future site flexibility.
Property Size21,113 SF
Lot Size3.16 Acres
Price / SF$75.55
Days on Market99
Property Features for 3950 Ben Hur Avenue
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Utilities to Site
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Drive-In Doors
Heavy Power
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Building Size
Listing Agency:
Keller Williams Greater Cleveland Northeast
Listed By:
Chandler Jekutis · License #2018003908
(440) 413-2534
Source:
Asacoxhomes
Added: Aug 3
Changed: Nov 3
Last Checked: Nov 8 at 2:16AM
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 Keller Williams Greater Cleveland Northeast
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 21,113 SF flex facility occupies 3.16 acres and combines approximately 11,747 SF of warehouse area with 9,366 SF of office space. The building includes heavy power, two drive-in doors, 10-26' clear heights, municipal utilities, and an extensively renovated office area. Abundant parking and outdoor storage potential add practical operating flexibility, while excess land provides room for future site improvements.
Built in 1964, the property is positioned along Ben Hur Avenue in Willoughby, Ohio, with immediate access to SR-2 and I-90. Its location provides connectivity to the greater Cleveland market. The existing combination of office, warehouse, and additional land supports a range of industrial and flex-space operations.
Built in 1964, the property is positioned along Ben Hur Avenue in Willoughby, Ohio, with immediate access to SR-2 and I-90. Its location provides connectivity to the greater Cleveland market. The existing combination of office, warehouse, and additional land supports a range of industrial and flex-space operations.
Key Highlights
- 21,113 SF facility on 3.16 acres
- Approximately 11,747 SF of warehouse and 9,366 SF of office space
- Heavy power with two drive‑in doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,680
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,973,600
$2.0M
Cap Rate 7%
$1,409,714
$1.4M
Cap Rate 9%
$1,096,444
$1.1M
Market Conditions
NOI Build-Up for 21,113 SF
Gross rent
$120.6K $5.71/SF
− Vacancy
−$4.5K −$0.21/SF
EGI
$116.1K $5.50/SF
− OpEx
−$17.4K −$0.82/SF
NOI
$98.7K $4.67/SF
Area
Lake County, OH
Vacancy
3.70%
Lease Rate
$5.71 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,973,600
Cap Rate 7%
$1,409,714
Cap Rate 9%
$1,096,444
Alternative Uses
Best Use
Office B
$3.82M
$3.34M – $4.46M
NOI $267,405 @ 7.0% cap · market cap 16.77%
Second Best
Warehouse
$1.41M
$1.23M – $1.64M
NOI $98,680 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$4.88M
$4.27M – $5.69M
NOI $341,343 @ 7.0% cap · market cap 21.40%
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
Lease Details
26 ft
Clear height
2
Drive-in doors
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44094, OH
37,634
Population
18,323
Households
2.1
Avg Household Size
46
Median Age
39%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
948
Density / Sq Mi
$76,125
Median Household Income
$49,393
Median Earnings
$1,155
Median Rent
$247,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Renovated office space and industrial operations areas support immediate occupancy and future site flexibility.
Where is this flex space located?
The property is located at 3950 Ben Hur Avenue Willoughby, OH.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 21,113 SF facility on 3.16 acres; Approximately 11,747 SF of warehouse and 9,366 SF of office space; Heavy power with two drive‑in doors
