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    1 Park Center Dr Wadsworth, OH 44281

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    For Lease
    Contact for pricing

    Prime Wadsworth Office, Flexible Suites Available

    Lot size:
    43,200 SF

    Property Features for 1 Park Center Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    43,200 SF
    Class
    B
    Total Rate
    39672

    Spaces For Lease

    at 1 Park Center Dr, Wadsworth, OH 44281 Contact us
    Unit Suite 11

    $11 /Mo

    Size
    2,450 SF
    Contact us

    We can help!

    Listing Contact
    Troy Gerspacher
    Troy Gerspacher

    Listing Agent: Troy Gerspacher

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

    Learn more

    Property Insight Report

    Overview

    One Park Center Drive in Wadsworth, Ohio, offers a fantastic opportunity to lease high-quality office space. This Class B building, totaling 43,200 square feet, features a convenient location with immediate access to I-76, making it an ideal choice for businesses seeking easy commutes and accessibility. The property boasts approximately 100 parking spaces and is zoned C-4. Currently, there is 2,450 square feet of vacant space available for lease, divisible down to a minimum of 600 square feet, offering flexibility for businesses of various sizes. The building is equipped with an elevator and is ADA compliant, ensuring accessibility for all. One available suite (Suite 11), located on the lower level, comprises 2,450 square feet and includes a reception/lobby area, three private offices (two with windows), a conference room with windows, a copier room, a kitchenette, and a storage/cubicle room. This versatile space is perfect for a variety of business needs. Located in Medina County, with the address 1 Park Center Dr, Wadsworth, OH 44281, this property presents a compelling opportunity to establish or expand your business in a thriving location. The building's multiple tenancy structure provides a diverse and dynamic work environment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Northeast Ohio Eye ... Medical Clinic Drs. Benninger, Schween, ... Dental Office Schween Gary R ... Dental Office Benninger Richard M ... Dental Office Sara M. Prusinski, ... Physician

    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
    Wadsworth
    County
    Medina
    State
    Ohio
    Longitude
    -81.72770672
    Latitude
    41.04734731

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Wadsworth Office, Flexible Suites Available
    Where is this office property / space located?
    The property is located at 1 Park Center Dr Wadsworth, OH.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: 2,450 SF of available office space, divisible to 600 SF.; Suite 11 features a reception/lobby, three private offices (two with windows), a conference room, copier room, kitchenette, and storage.; ADA compliant.
    (330) 722-5002 Call to check price and availability
    Request Owner's contact information
    1 Park Center Dr Wadsworth, OH 44281
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    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
    1 Park Center Dr Wadsworth, OH 44281
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    Contact for Pricing
    Please call us for current price
    and status of this listing Troy Gerspacher
    Troy Gerspacher
    Real Estate License ID: 2007000314
    (330) 722-5002 (216) 470-4545
    Learn more
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