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    26485 Center Ridge Rd Westlake, OH

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    26485 Center Ridge Rd Westlake, OH

    View on Map
    • Strip malls
    • 25,510 SF
    • 3.21 lot acres
    For Lease
    $775,000
    View Listing →
    Retail Space in Westlake Commons For Lease
    $775,000
    2,000 SF

    Retail Space in Westlake Commons

    Retail spaces available in high-traffic Westlake community center.

    26485 Center Ridge Rd, Westlake, OH
    View Listing
    Property ID
    US66-0143214
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 26485 Center Ridge Rd

    Year built
    1978
    Construction
    TYPE NOT SPECIFIED
    Lot size
    3.21 lot acres
    Property size
    25,510 SF
    Zone code
    GB
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    215-01-008
    APU
    21501008

    Description

    This exceptional retail opportunity is located at 26485 Center Ridge Rd in Cuyahoga County, Ohio. The property sits on a substantial 2.925-acre lot and features a single, one-story building constructed in 1978. Currently, one retail space is available, offering 1,750 square feet of prime, front unit, end-cap space. This presents a unique opportunity for a business seeking high visibility and accessibility. The property is zoned GB, offering flexibility for a variety of retail uses. The building itself is classified as Class C. While the exact number of suites is not specified, the available space is a significant portion of the building. The property's location and size make it an ideal choice for a business looking to establish a strong presence in a well-established area. The lease rate is negotiable, providing flexibility for potential tenants. The property's APN is 21501008. This is a rare opportunity to secure a prominent retail space in a desirable location. Don't miss out on this chance to establish your business in a high-traffic area. Inquire today for more details and to discuss lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Westlake
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.9146
    Latitude
    41.4513
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $45,168
    $249,550
    $400,580
    $650,130
    -
    $713,000
    $1,144,500
    $1,857,500

    Comparable in this City

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    • Value Estimation
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      0.58 Acres

      27000 Ctr Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 0.58 Acres
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    • Value Estimation
      $1,090,000
      35,197 SF

      26101 Detroit Rd

      SHOPPING CENTER, STRIP CENTER • 35,197 SF
      26101 Detroit Rd, Westlake, OH 44145-2430
      View Details
    • Value Estimation
      $1,620,000
      5,500 SF

      27000 Ctr Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 5,500 SF
      27000 Ctr Rdg Rd, Westlake, OH 44145
      View Details
    • Value Estimation
      $610,000
      20,100 SF

      30655 Detroit Rd

      SHOPPING CENTER, STRIP CENTER • 20,100 SF
      30655 Detroit Rd, Westlake, OH 44145-1833
      View Details
    • Value Estimation by Request
      8,494 SF

      23750 Ctr Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 8,494 SF
      23750 Ctr Rdg Rd, Westlake, OH 44145
      View Details

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      Westlake Retail Spaces Available

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      Westlake Retail Space Available

      Retail space in Westlake with high traffic and income.
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      Retail and Office Space Available

      Retail and office spaces in a mixed-use destination.
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      Retail Space For Lease

      Retail space available for lease.
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      View Details
    View Listing
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    26485 Center Ridge Rd
    Westlake, OH
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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
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