Technical
Financial
Distress signals
Property profile

24700 Ctr Rdg Rd2a3 Westlake, OH 44145

OFF-MARKET
Office Spaces
Property ID
US66-1446478
542 SF 0.02 ac lot Built 1973
Entity Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This 55,000 dollar office condominium is situated at 24700 Center Ridge Road, Unit 314, in the desirable city of Westlake, Ohio. The property is a conveniently located office space perfect for a small business such as an accountant's office, insurance agency, or a small medical practice. This third-floor unit offers easy access via elevator and multiple entrances, ensuring convenient access for clients and staff. The unit includes a dedicated waiting area for clients, providing a professional and welcoming atmosphere. Ample parking is available for both staff and visitors. Currently vacant, this property is readily available for immediate occupancy and offers easy showing capabilities. The unit sits on a 0.02-acre lot. The monthly association fee of $357 covers essential utilities and maintenance, including heat, water, and sewer services. This significantly reduces the operational overhead for the new owner. This turnkey solution presents a fantastic opportunity for a small business seeking a well-maintained, conveniently located office space in a thriving community. The property's location near major highways provides excellent accessibility for clients and employees.

Property profile

Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Year built 1973
Construction TYPE NOT SPECIFIED
Total area 542 SF
Lot 0.02 ac (1,008 SF)
APN 213-28-484
UPID US66-1446478

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

24700 Ctr Rdg Rd2a3 Westlake, OH 44145-5636
Westlake metro Census 189107 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$55k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$55k

Owner & transaction history

since 2023
Last sale
$39,000
2 recorded transactions
2023
$39,000
2023
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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