21851 Center Ridge RdRocky River, OH 44116

Property Details for 21851 Center Ridge Rd

Year built

1980

Construction

TYPE NOT SPECIFIED

Lot size

1.56 AC

Property size (Sq ft)

8,541 SF

Zone code

GB

Property type

Office properties

Property subtype

Office buildings

APN

215-01-041

APU

21501041

Description

This exceptional Class A, 680-square-foot executive office condo is located at 21851 Center Ridge Rd, Rocky River, OH 44116. Situated on the fourth floor of a single-story building, this vacant unit boasts stunning western views and was completely renovated in 2023. The property, built in 1972, sits on a 0.02-acre lot and features a modern, open-concept design ideal for fostering collaboration. All furniture is included, making this a truly turnkey opportunity. The asking price is $124,900, representing a price per square foot of $250 and a 10.45% cap rate with a Net Operating Income (NOI) of $13,052. The property is zoned for office use and offers ample natural light, floor-to-ceiling windows, and a sleek reception area. This owner-user investment opportunity is perfect for a business seeking a sophisticated and convenient location within the coveted Rocky River commercial district. The property's APN is 303-30-310. Immediate occupancy is available.

• CAP approach

  CAP return

  Valuation

  6%

  $1,536,525

  6.5%

  $1,418,331

  7%

  $1,317,022

• Comparable approach

  Method

  Valuation

  Relative Method

  $798,925

  Geo Method

  $798,925

• Alternative Use

  Use

  Valuation

  Residential

  $1,758,730

  Hospitality

  $1,610,988

  Educational

  $1,340,323

  Medical

  $1,386,418

  Retail

  $2,084,946

Location Insight

City

Rocky River

County

Cuyahoga

State

Ohio

Latitude

41.4501

Longitude

-81.9182

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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