Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    16926 Detroit Ave Lakewood, OH 44107
    Property profile & analytics

    16926 Detroit Ave, Lakewood, OH 44107

    View on Map
    • Office Spaces
    • 12,533 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 16926 Detroit Ave

    Property type
    Office Spaces

    Description

    The New Center Building at 16926 Detroit Ave, Lakewood, OH 44107 offers exceptional office space for lease. This traditional office building totals 12,533 square feet and features multiple tenancies, with a minimum divisible space of 1,200 square feet and a maximum contiguous space of 2,400 square feet. Currently, one space is available, ranging from 1,200 to 2,400 square feet, ideal for businesses seeking flexible and adaptable office solutions. The building benefits from a mixed-use environment, anchored by a prominent local business, El Carnicero, providing increased foot traffic and visibility. Tenants enjoy the convenience of tenant-controlled heating and cooling systems, ensuring optimal comfort and energy efficiency. Furthermore, the property offers the added benefit of private entrances and ample off-street parking, enhancing accessibility and convenience for employees and clients. This location in Lakewood, Ohio provides easy access to major transportation routes and a vibrant local community. This is a fantastic opportunity to secure high-quality office space in a desirable location. Inquire today to learn more about this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lakewood
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.8152
    Latitude
    41.4856

    Comparable in this City

    • Value Estimation by Request
      215 SF

      8 Detroit Ave

      CONDOMINIUM OFFICES
      8 Detroit Ave, Lakewood, OH 44107
      View Details
    • Value Estimation by Request
      460 SF

      9 Detroit Ave

      CONDOMINIUM OFFICES
      9 Detroit Ave, Lakewood, OH 44107
      View Details
    • Value Estimation by Request

      16926 Detroit Ave

      Office Spaces
      16926 Detroit Ave, Lakewood, OH 44107
      View Details
    • Value Estimation by Request
      638 SF

      10 Detroit Ave

      CONDOMINIUM OFFICES
      10 Detroit Ave, Lakewood, OH 44107
      View Details
    • Value Estimation
      $975,000
      7,372 SF

      1375 Hird Ave

      OFFICE BUILDING
      1375 Hird Ave, Lakewood, OH 44107-3008
      View Details
    • Value Estimation by Request
      1,246 SF

      1431 117th St

      OFFICE BUILDING
      1431 117th St, Cleveland, OH 44107-5101
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,407 SF

      Lakewood Retail and Office Space

      Retail and office space with leased restaurant, investor opportunity.
      14810-14824 Detroit Ave, Lakewood, OH 44107
      View Details
    • New
      $400,000
      0.17 Acres

      Character Medical Office Building

      Flexible former wellness office with private rooms, hardwood floors, and off-street parking near Lakewood’s Madison Avenue.
      15522 Madison Ave, Lakewood, OH 44107
      View Details
    • Contact for pricing
      2,244 SF

      Lakewood Duplex: Investment Opportunity

      Well-maintained Lakewood duplex with updated units and reliable income.
      12511 Plover St, Lakewood, OH 44107
      View Details
    • Contact for pricing
      11,325 SF

      Planet Fitness Investment Opportunity

      Single-tenant Planet Fitness in Lakewood, OH with long-term lease.
      16207 Detroit Ave, Lakewood, OH 44107
      View Details
    • $275,000
      Pending

      Lakewood Duplex: Investment Opportunity

      Fully occupied duplex in Lakewood's Birdtown neighborhood.
      1604 Newman Ave, Lakewood, OH 44107
      View Details
    • $400,000
      2,834 SF

      Lakewood Triplex: Investment Opportunity

      Well-maintained three-unit property in Lakewood with income potential.
      1447 Rosewood Ave, Lakewood, OH 44107
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Office Space with Private Parking

      All-inclusive office space featuring exposed brick and private parking.
      18611 Detroit Ave, Lakewood, OH 44107
      View Details
    • Contact for pricing
      3,732 SF

      Lakewood Retail and Office Space

      Retail and office spaces for lease in Lakewood, Ohio.
      16300-16400 Detroit Ave, Lakewood, OH 44107
      View Details
    • Contact for pricing
      934 SF

      Office Space in Lakewood, OH

      934 sqft office space available for rent in Lakewood.
      1435 Warren Rd, Lakewood, OH 44107
      View Details
    • Contact for pricing

      Renovated Mixed-Use Property For Rent

      Three-building site suitable for retail, office, or restaurant use.
      17919 Detroit Ave, Lakewood, OH 44107
      View Details
    • Contact for pricing
      1,001 SF

      Lakewood Mixed-Use Redevelopment Space

      Retail and office spaces available in Lakewood's premier redevelopment.
      16300-16400 Detroit Ave, Cleveland, OH 44107
      View Details
    • Contact for pricing
      3,020 SF

      Top-Floor Office Space Available

      3,020 sq ft office space with panoramic views.
      14600 Detroit Ave, Lakewood, OH 44107
      View Details
    Request Owner's contact information
    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.
    16926 Detroit Ave
    Lakewood, OH 44107
    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
    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

    Thank You for Inquiry
    16926 Detroit Ave, Lakewood, OH, 44107
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!