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    Property profile & analytics

    30760 Center Ridge Rd Westlake, OH 44145

    • Car washes
    • 1,990 SF
    • 1.97 lot acres
    For Sale
    View listing
    $1,650,000
    Last Sale
    Oct 23, 2020
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-6110993
    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.

    Current Use by Public Records

    • Car washes

    Property Details for 30760 Center Ridge Rd

    Year built
    1853
    Lot size
    1.97 lot acres
    Property size
    1,990 SF
    Zone code
    GB
    Property type
    Car washes
    APN
    217-07-006
    APU
    21707006

    Description

    This exceptional 3.8-acre commercial and residential land parcel presents a unique development opportunity in the highly desirable Westlake, Ohio market. Located at the prominent intersection of Center Ridge Road and Bradley Road, this fee-simple property boasts excellent visibility and frontage on both major thoroughfares. The General Business (GB) zoning allows for a wide range of development possibilities, catering to both commercial and residential uses. Its strategic location offers immediate adjacency to the Cleveland Metroparks Bradley Woods Reservation, a 795-acre park providing a stunning natural backdrop and recreational opportunities. This prime location benefits from proximity to numerous businesses, healthcare facilities, retail centers (Crocker Park & The Promenade), recreational amenities, and highly-rated Westlake schools. The property's convenient access to I-90 provides a quick commute to downtown Cleveland, while Cleveland Hopkins International Airport is only a short drive away. This is one of the last remaining corner development sites in Westlake, making it an exceptional investment opportunity with significant potential for future growth and high return. The APN is 217-16-005. The asking price is $1,650,000. This property offers unparalleled potential for developers seeking a high-profile location in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $230,000
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $190,000
      Market price range: $85.6k - $339k
      AI Estimate
      $179,000
      Market price range: $83.4k - $228k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $175,000
      Current use
      OFFICE BUILDING
      $285,000
      Change: +61% Conversion: Difficult
      MEDICAL BUILDING
      $215,000
      Change: +22% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $200,000
      Change: +14% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $165,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Westlake
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.9612
    Latitude
    41.4235
    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
    $6,434
    $55,650
    $37,100
    $92,750
    -
    $159,000
    $106,000
    $265,000

    Comparable in this City

    • Value Estimation
      $230,000
      2,897 SF

      27180 Detroit Rd

      CAR WASH • 2,897 SF
      27180 Detroit Rd, Westlake, OH 44145-2376
      View Details
    • Value Estimation
      $460,000
      4,300 SF

      1145 Crocker Rd

      CAR WASH • 4,300 SF
      1145 Crocker Rd, Westlake, OH 44145-1034
      View Details
    • Value Estimation
      $305,000
      4,500 SF

      25247 Detroit Rd

      CAR WASH • 4,500 SF
      25247 Detroit Rd, Westlake, OH 44145-2536
      View Details
    • Value Estimation
      $290,000
      4,980 SF

      2555 Dover Ctr Rd

      RESIDENTIAL PARKING GARAGE • 4,980 SF
      2555 Dover Ctr Rd, Westlake, OH 44145
      View Details
    • Value Estimation
      $6,335,000
      34,727 SF

      24690 Sperry Dr

      VEHICLE SALES, RENTALS • 34,727 SF
      24690 Sperry Dr, Westlake, OH 44145-1531
      View Details
    • Value Estimation
      $685,000
      74,615 SF

      25200 Ctr Rdg Rd

      PARKING GARAGE, PARKING STRUCTURE • 74,615 SF
      25200 Ctr Rdg Rd, Westlake, OH 44145-4141
      View Details

    Similar Nearby for Sale

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      Westlake Restaurant Business For Sale

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      Westlake Restaurant/Office Building Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      14,962 SF

      Detroit Road Retail Center

      Three Suites Available, 4,000-6,962 SF
      30275 Detroit Rd, Westlake, OH 44145
      View Details
    • Contact for pricing
      2,000,000 SF

      Crocker Park Retail Spaces

      Westlake, OH: Prime Retail Opportunity
      198 Crocker Park Blvd, Westlake, OH 44145
      View Details
    • Contact for pricing
      3,100 SF

      Crocker Road Retail/Medical Space

      Move-in ready space with upgraded finishes and ample parking.
      2035 Crocker 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.
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      Westlake Commons Retail Spaces

      High-traffic retail spaces in Westlake, OH
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      View Details
    • $22 SF/Yr
      2,278 SF

      Westlake Office and Retail Space

      Office and retail spaces available near I-90 and Crocker Park.
      24441-24481 Detroit Rd, Westlake, OH 44145
      View Details
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    30760 Center Ridge Rd
    Westlake, OH 44145
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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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