27059 Center Ridge RdWestlake, OH 44145

Property Details for 27059 Center Ridge Rd

Year built

1962

Construction

TYPE NOT SPECIFIED

Lot size

0.86 AC

Property size (Sq ft)

8,596 SF

Zone code

OB

Property type

Healthcare properties

Property subtype

Medical offices

APN

215-10-005

APU

21510005

Description

This exceptional 8,596 square foot commercial building presents a unique investment opportunity in the thriving Westlake, OH market. Strategically situated between Crocker Park and Great Northern Mall, this property enjoys high visibility and accessibility, benefiting from significant foot and vehicle traffic. The building sits on a sizable 0.86-acre lot, offering ample space for expansion or future development. Recently undergoing a complete demolition and framing, the interior is entirely customizable, providing a blank slate for any commercial venture. Whether you envision a modern office space, a retail establishment, or a flexible mixed-use development, this property offers unparalleled adaptability. The building's prime location and substantial size make it an ideal choice for businesses seeking a prominent presence in a high-demand area. The absence of existing interior finishes allows for complete design freedom, enabling the creation of a space perfectly tailored to specific business needs. This is a rare chance to acquire a substantial commercial property in a highly desirable location, ready for immediate development and occupancy. The potential for return on investment is significant, given the property's size, location, and the current market demand. Don't miss this opportunity to secure a prime commercial asset in Westlake.

• CAP approach

  CAP return

  Valuation

  6%

  $1,546,420

  6.5%

  $1,427,464

  7%

  $1,325,503

• Comparable approach

  Method

  Valuation

  Relative Method

  $804,070

  Geo Method

  $804,070

• Alternative Use

  Use

  Valuation

  Residential

  $1,770,056

  Hospitality

  $1,621,362

  Educational

  $1,348,954

  Medical

  $1,395,346

  Retail

  $2,098,372

Location Insight

City

Westlake

County

Cuyahoga

State

Ohio

Latitude

41.4494

Longitude

-81.9206

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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