Office Building with
For Sale
$1,949,999
6731 Ridge Road, Parma, OH 44129
CommercialSale, Parma, OH
Property Size14,000 SF
Lot Size0.78 Acres
Price / SF$139.29
Days on Market955
Property Features for 6731 Ridge Road
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
65
Elementary school district
Parma CSD - 1824
Middle school district
Parma CSD - 1824
High school district
Parma CSD - 1824
Directions
Next to Sheetz, across the street from Byers field.
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
Legal Description
ELY 10 SP 1144.94 NWC
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 Agency:
The Holton-Wise Property Group LLC
(216) 661-6633
Listed By:
James P Wise · License #2015001161
(216) 661-6633
Added: Jan 18, 2024
Changed: Aug 20
Last Checked: Aug 30 at 2:06PM
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.
Investment Insights
Based on property information with market context.
This 14,000+ sq ft office building is arranged across three floors and includes one elevator, two stairwells, and 14 restrooms. A rooftop HVAC system, forced-air heating, and public water and sewer support the building’s operations. The property was built in 1983 and includes two parking lots with capacity for 65 vehicles.
The building has frontage along Ridge Road and Lynett Drive in Parma, with Byers Field across Ridge Road and University Hospital across Lynett Drive. Shopping, transit, a high school football stadium, and national retailers and restaurants are also identified in the surrounding area.
The property occupies 0.7805 acres and is currently being leased out on a space-by-space basis. Its three-level layout and existing building systems provide a substantial office configuration for continued commercial occupancy.
The building has frontage along Ridge Road and Lynett Drive in Parma, with Byers Field across Ridge Road and University Hospital across Lynett Drive. Shopping, transit, a high school football stadium, and national retailers and restaurants are also identified in the surrounding area.
The property occupies 0.7805 acres and is currently being leased out on a space-by-space basis. Its three-level layout and existing building systems provide a substantial office configuration for continued commercial occupancy.
Key Highlights
- 14,000+ sq ft office building arranged across 3 floors
- 1 elevator, 2 stairwells, and 14 restrooms
- Two parking lots with capacity for 65 vehicles
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
$154,350
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
7.92%
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%
$3,087,000
$3.1M
Cap Rate 7%
$2,205,000
$2.2M
Cap Rate 9%
$1,715,000
$1.7M
Market Conditions
NOI Build-Up for 14,000 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
$294.0K $21.00/SF
− Vacancy
−$36.8K −$2.63/SF
EGI
$257.3K $18.38/SF
− OpEx
−$102.9K −$7.35/SF
NOI
$154.4K $11.03/SF
Area
Cuyahoga County, OH
Vacancy
12.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$3,087,000
Cap Rate 7%
$2,205,000
Cap Rate 9%
$1,715,000
Alternative Uses
Best Use
Healthcare Medical
$2.21M
$1.93M – $2.57M
NOI $154,350 @ 7.0% cap · market cap 7.92%
Second Best
Office B
$2.15M
$1.88M – $2.51M
NOI $150,305 @ 7.0% cap · market cap 7.71%
Theoretical Best
Warehouse
$11.22M
$9.82M – $13.09M
NOI $785,219 @ 7.0% cap · market cap 40.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 44129, OH
28,803
Population
12,756
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
5.8 sq mi
ZIP Area
4,966
Density / Sq Mi
$67,619
Median Household Income
$39,174
Median Earnings
$1,024
Median Rent
$150,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Three-story commercial property with multiple restrooms, rooftop HVAC, dual street frontage, and parking for office users.
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 $1,949,999.
What are key features of this property?
This property features: 14,000+ sq ft office building arranged across 3 floors; 1 elevator, 2 stairwells, and 14 restrooms; Two parking lots with capacity for 65 vehicles
