6731 Ridge Road Parma, OH 44129
SINGLE_FAMILY - Parma, OH
Property Features for 6731 Ridge Road
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking
- 65
- Standard status
- Active
- APN
- 450-01-003
- 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
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Investment Insights
Based on property information with market context.
The building is located at 6731 Ridge Road in Parma, Ohio, with frontage on both Ridge Rd and Lynett Dr. Public remarks state the property is across from Byers field and University Hospital, and that it sits near shopping, transit, and a high school football stadium. The remarks also cite proximity to several national retailers and QSR brands.
The current offering is for sale, with public remarks indicating that vacant space is being leased out and that rent roll documentation is available from the agent upon request. With its healthcare-ready footprint, multiple restrooms, elevator service, and ample parking, the building may suit buyers or operators seeking an adaptable facility for medical practice or office use.
Key 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.
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 |
