24500 Center Ridge RdWestlake, OH 44145

Property Details for 24500 Center Ridge Rd

Year built

1979

Construction

TYPE NOT SPECIFIED

Lot size

2.24 AC

Property size (Sq ft)

80,968 SF

Zone code

OB

Property type

Office properties

Property subtype

Office buildings

APN

213-28-027

APU

21328027

Description

King James IV, located at 24500 Center Ridge Rd, Westlake, OH 44145, presents a prime opportunity for businesses seeking office space in Cuyahoga County's West Cleveland submarket. This four-story, Class B building, constructed in 1981, offers a total of 93,520 square feet of traditional, executive, and medical office space. The property sits on 3.54 acres of land and is currently available for multiple tenants. Flexible suite sizes range from a minimum of 860 square feet to a maximum contiguous space of 22,900 square feet, allowing for businesses of various sizes to find a suitable fit. The building's excellent location on Center Ridge Road provides convenient access and high visibility. Ready for immediate occupancy, King James IV offers a variety of options, from small, ready-to-use office suites to the potential for full-floor leasing. This presents a unique opportunity to establish a presence in a thriving Westlake business community. The building's versatile design caters to a range of office needs, making it an ideal location for traditional businesses, executive offices, or medical practices. Interested parties are encouraged to inquire about available spaces and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $14,566,137

  6.5%

  $13,445,665

  7%

  $12,485,260

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,573,746

  Geo Method

  $7,573,746

• Alternative Use

  Use

  Valuation

  Residential

  $16,672,624

  Hospitality

  $15,272,034

  Educational

  $12,706,153

  Medical

  $13,143,137

  Retail

  $19,765,128

Location Insight

City

Westlake

County

Cuyahoga

State

Ohio

Latitude

41.459

Longitude

-81.8939

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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