Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    24600 Center Ridge Rd Westlake, OH 44145

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Westlake Creative Office - 18,351 SF Available

    Lot size:
    18,351 SF

    Property Features for 24600 Center Ridge Rd

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    18,351 SF
    Class
    B
    Total Rate
    19880.25

    Building Details

    Year Built
    1981
    Buildings
    1
    Stories
    4

    Spaces For Lease

    at 24600 Center Ridge Rd, Westlake, OH 44145 Contact us
    Unit Available Space

    $14 /Mo

    Size
    18,351 SF
    Contact us

    We can help!

    Listing Contact
    Alex Jelepis
    Alex Jelepis

    Listing Agency: NAI Pleasant Valley Listing Agent: Alex Jelepis

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    King James III offers 18,351 square feet of prime creative office space in a single, four-story Class B building situated on a 3.12-acre lot in central Westlake, Cuyahoga County. Built in 1981, this property boasts upgraded existing finishes, including exposed ceilings and unique lighting, with select new finishes recently completed. The space is ready for immediate occupancy, requiring only minor customization. Tenants will benefit from an abundance of parking, with a 400-space covered parking structure. The building's OB zoning allows for flexibility, and the full-service gross lease at $13.75 per square foot represents an extremely high value. Exterior branding opportunities are available to full-floor occupants. The property's convenient Westlake location and flexible lease terms make it an ideal choice for businesses seeking a modern, well-appointed workspace. The building features a single tenancy and is currently entirely vacant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westlake
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8938318
    Latitude
    41.458906

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Crocker Park

      Flexible workspace in San Jose Airport
      159 Crocker Park Blvd, Westlake, OH 44145
      View Details
    • $15 SF/Yr
      3,128 SF

      Westlake Office Space For Lease

      Office space available for lease in Westlake, Ohio.
      27881 Clemens Rd, Westlake, OH 44145
      View Details
    • $22 SF/Yr
      2,157 SF

      Class A Professional Office Building

      Well-maintained office building with classrooms, board rooms, and ample parking.
      26202 Detroit Rd, Westlake, OH 44145
      View Details
    • Contact for pricing
      6,500 SF

      Westlake Retail Space For Lease

      Retail spaces available in high-traffic Westlake location.
      1325-1499 Columbia Rd, Westlake, OH
      View Details
    • Contact for pricing
      18,035 SF

      Westlake Office Space Sublease

      18,035 SF office space available for sublease in Westlake.
      25689-25777 Detroit Rd, Westlake, OH 44145
      View Details
    • Contact for pricing
      2,405 SF

      Office Space with Separate Entrance

      Office unit with separate entrance and high visibility.
      27540 Detroit Rd, Westlake, OH 44145
      View Details
    • Contact for pricing
      710 SF

      Westlake Office Space Available

      Office space with frontage on Detroit Road in Westlake.
      26908 Detroit Rd, Westlake, OH 44145
      View Details
    • Contact for pricing
      3,130 SF

      Westlake Office Space For Rent

      Office space with frontage on Detroit Road and visibility from I-90.
      27476 Detroit Rd, Westlake, OH 44145
      View Details
    • Contact for pricing
      1,681 SF

      Westlake Office Space For Rent

      Office space with frontage on Detroit Road and ample parking.
      27500 Detroit Rd, Westlake, OH 44145
      View Details
    • Contact for pricing
      3,300 SF

      Westlake Office Space For Rent

      Office space for rent in Westlake, Ohio near Crocker Park.
      31000 Viking Pkwy Rd, Westlake, OH
      View Details
    • $9 SF/Yr
      85,000 SF

      Westlake Office and Warehouse Space

      Office and warehouse space in Westlake, Ohio near I-90.
      29299 Clemens Rd, Westlake, OH 44145
      View Details
    • Contact for pricing
      4,000 SF

      Westlake Retail Space Available

      Retail space in Westlake with high traffic and income.
      30235-30297 Detroit Rd, Westlake, OH 44145
      View Details

    FAQs

    What type of property is this?
    Office space - Westlake Creative Office - 18,351 SF Available
    Where is this office space located?
    The property is located at 24600 Center Ridge Rd Westlake, OH.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: High-value creative office space available for lease at $13.75/SF, full-service gross.; Building features upgraded finishes including exposed ceilings and unique lighting; select areas have recently completed new finishes, ready for customization.; Rapid occupancy possible with minimal additional finish-out required.
    (216) 901-0130 Call to check price and availability
    Request Owner's contact information
    24600 Center Ridge Rd Westlake, OH 44145
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24600 Center Ridge Rd
    Westlake, OH 44145
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    24600 Center Ridge Rd Westlake, OH 44145
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alex Jelepis
    Alex Jelepis
    Real Estate License ID: 0000264083
    (216) 901-0130 (216) 455-0916
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!