Office Condominium With Modern
835-835 Detroit Road Cleveland, OH 44145
For Sale
Contact for pricing
Office condominium offering open workspace, private offices, conference rooms, and break area with HOA-included services.
Property Size12,227 SF
Price / SF$149
Days on Market2346
Property Features for 835-835 Detroit Road
General Information
Standard status
Active
Size
12,227 SF
Property subtype
OFFICE
Listing Agency:
Cresco Real Estate | Cleveland
(216) 525-1464
Listed By:
Joseph V. Barna, SIOR
Source:
Moodyscre
Added: Feb 26, 2020
Changed: Jul 27
Last Checked: Jul 29 at 12:23PM
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 Cresco Real Estate | Cleveland
Investment Insights
Based on property information with market context.
This vibrant office condominium includes a mix of open office space, private offices, conference rooms, and a break room. The space features modern, innovative finishes throughout. HOA fees include property maintenance, common area cleaning, landscaping, snowplowing, trash removal, and water/sewer. The property also benefits from a 20 meg fiber internet connection.
The property is located off Detroit Road with easy access to I-90 via the Columbia Road or Clague Road interchange. It is minutes from Crocker Park and several major medical destinations including University Hospital Westlake, Cleveland Clinic Westlake, and Fairview Hospital Westlake Medical Campus.
The layout is suited for day-to-day office operations, with multiple work settings supported by shared conference and break space.
The property is located off Detroit Road with easy access to I-90 via the Columbia Road or Clague Road interchange. It is minutes from Crocker Park and several major medical destinations including University Hospital Westlake, Cleveland Clinic Westlake, and Fairview Hospital Westlake Medical Campus.
The layout is suited for day-to-day office operations, with multiple work settings supported by shared conference and break space.
Key Highlights
- Office condominium with open workspace, private offices, conference rooms, and a break area
- Modern finishes throughout the space
- HOA fees include property maintenance, common area cleaning, landscaping, snowplowing, trash removal, and water/sewer
Financial Insights For Office B
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 | $277.3k | $22.68 |
| − Vacancy | −$55.5k | −$4.54 |
| EGI | $221.8k | $18.14 |
| − OpEx | −$55.5k | −$4.54 |
| NOI | $166.4k | $13.61 |
12,227 SF · lease $22.68/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.38M
$2.08M – $2.77M
NOI $166,385 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.98M
$2.61M – $3.48M
NOI $208,865 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Office condominium offering open workspace, private offices, conference rooms, and break area with HOA-included services.
Where is this office units located?
The property is located at 835-835 Detroit Road Cleveland, OH.
What is the asking price?
The asking price for this property is $1,834,000.
What are key features of this property?
This property features: Office condominium with open workspace, private offices, conference rooms, and a break area; Modern finishes throughout the space; HOA fees include property maintenance, common area cleaning, landscaping, snowplowing, trash removal, and water/sewer
