Building Details

Year Built 1990

Year Renovated 2015

Buildings 1

Stories 2

Tenancy Single

Listing Agency: CBRE - Cleveland

Listed By: Jenna Gauntner · License #SAL.2018005476 Show Phone

Source: Crexi

Added: Apr 14 Changed: Sep 3 Last Checked: Sep 2 at 1:42PM

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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 CBRE - Cleveland

Investment Insights

Based on property information with market context.

This commercial real estate offers office units and spaces available for rent. The property is located in Sheffield Lake, Ohio.

Key Highlights

• Office space available for rent
• Located in Sheffield Lake, OH

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

$61,219

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

6.28%

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%

$1,224,380 $1.2M

Cap Rate 7%

$874,557 $874.6K

Cap Rate 9%

$680,211 $680.2K

Market Conditions

NOI Build-Up for 4,850 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

$96.0K $19.80/SF

− Vacancy

−$14.4K −$2.97/SF

EGI

$81.6K $16.83/SF

− OpEx

−$20.4K −$4.21/SF

NOI

$61.2K $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 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%

$1,224,380

Cap Rate 7%

$874,557

Cap Rate 9%

$680,211

Alternative Uses

Best Use

Office B

$874.6K

$765.2K – $1.02M (±1% cap)

NOI $61,219 @ 7.0% cap · market cap 6.28%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,554 @ 7.0% cap · market cap 8.77%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon

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

Location Intelligence

Trade Area within ½ mile

114

Businesses Nearby

Explore this area Business Placement

Demographics for 44054, OH

12,484

Population

6,059

Households

2.1

Avg Household Size

44

Median Age

25%

College-Educated

96%

High-School Grad

12.5 sq mi

ZIP Area

999

Density / Sq Mi

$73,151

Median Household Income

$47,207

Median Earnings

$1,059

Median Rent

$177,600

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

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

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Frequently Asked Questions

What type of property is this?

Office units - Office space available for rent in Sheffield Lake, OH.

Where is this office units located?

The property is located at 4259 E Lake Rd Sheffield Lake, OH.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Office space available for rent; Located in Sheffield Lake, OH