Salon/Medical/Office Building Near
6731 Ridge Road, Parma, OH 44129
SINGLE_FAMILY - Parma, OH
Type:Office
Property size:
14,000 SFLot size:
0.78 AcresPrice / SF:
$142/SF- Added:
- Jan 18, 2024
- Days on Market:
- 864
- Last Refresh:
- May 31 at 5:06 pm
Property Features for 6731 Ridge Road
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking
- 65
- Standard status
- Active
- APN
- 450-01-003
- Size
- 14,000 SF
- Lot size
- 0.78 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- ELY 10 SP 1144.94 NWC
- Tax Annual Amount
- 28356
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1983
- Floors in Building
- 3
- Number of units
- 10
Listing agent James P Wise License #2015001161 (216) 661-6633
Listing office The Holton-Wise Property Group LLC 4207 Brookpark Road, Parma, OH (216) 661-6633
Listing date Jan 18, 2024
MLS# 5012346
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Seller financing available.
- Potential rental income between $16,000/mo & $22,000/mo.
- 14,000+ sq ft building suitable for Salon / Medical / Office use.
- Prime location next to University Hospital, shopping, transit, and major retailers.
- Ample parking with two lots accommodating 65 vehicles.
- New $80,000 rooftop HVAC system installed a couple years ago.
Overview
This 14,000+ sq ft building, suitable for salon, medical, or office use, is available for purchase with owner financing. Previously partially occupied, the property is being leased out, with an anticipated rent roll between $16,000/month and $22,000/month once fully leased. The building is conveniently located near University Hospital, shopping, transit, a high school football stadium, and various national companies including Chick-fil-A, Sheetz, McDonald's, Starbucks, Target, Kohl's, Verizon and Walmart. Situated on 0.7805 acres, the property has frontage on both Ridge Rd, across from Byers field, and Lynett Dr, across from University Hospital. The building features three floors, one elevator, two stairwells, and fourteen restrooms. A new $80,000 rooftop HVAC system was installed a couple of years ago. The property includes two parking lots with a total capacity of 65 vehicles.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $294.0k | $21.00 |
| − Vacancy | −$36.8k | −$2.63 |
| EGI | $257.3k | $18.38 |
| − OpEx | −$102.9k | −$7.35 |
| NOI | $154.4k | $11.03 |
14,000 SF · lease $21.00/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$2.21M
$1.93M – $2.57M
NOI $154,350 @ 7.0% cap · market cap 7.72%
Second Best
Office B
$2.15M
$1.88M – $2.51M
NOI $150,305 @ 7.0% cap · market cap 7.52%
Theoretical Best
Warehouse
$11.22M
$9.82M – $13.09M
NOI $785,219 @ 7.0% cap · market cap 39.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Map
- City
- Parma
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.733861
- Latitude
- 41.381496
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - 14,000+ sq ft building near University Hospital.
Where is this office building located?
The property is located at 6731 Ridge Road Parma, OH.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Seller financing available.; Potential rental income between $16,000/mo & $22,000/mo.; **14,000+ sq ft building** suitable for Salon / Medical / Office use.
