24610 Detroit RdWestlake, OH 44145

Property Details for 24610 Detroit Rd

Year built

1988

Construction

TYPE NOT SPECIFIED

Lot size

0.65 AC

Property size (Sq ft)

6,207 SF

Property type

Office properties

Property subtype

Office buildings

APN

214-01-311

APU

21401311

Description

This exceptional 6,200-square-foot office condo, located at 24610 Detroit Road, Suite 1200, Unit 110 in Westlake, Ohio 44145, presents a unique opportunity for businesses seeking a prestigious and functional workspace. The property is classified as a Class B building and offers single-tenant occupancy. Its versatile design suits various office needs, including traditional, medical, and creative office uses. The suite boasts modern amenities such as 24-hour access and an active security system, ensuring peace of mind and operational flexibility. Enjoy the tranquil setting overlooking a pond and landscaped grounds, offering a refreshing contrast to a busy workday. Strategically located just 15 miles from downtown Cleveland, this property benefits from its proximity to major employers like American Greetings and Hyland Software, as well as numerous hotels and retail establishments. The asking lease rate is $18.00 per square foot, and the sale price is $640,000. Visible signage enhances visibility and brand recognition. This location offers a blend of serene surroundings and convenient access to a thriving business community, making it an ideal choice for companies seeking a high-quality office space in Cleveland's West Office Submarket.

• CAP approach

  CAP return

  Valuation

  6%

  $1,116,639

  6.5%

  $1,030,744

  7%

  $957,119

• Comparable approach

  Method

  Valuation

  Relative Method

  $580,603

  Geo Method

  $580,603

• Alternative Use

  Use

  Valuation

  Residential

  $1,278,122

  Hospitality

  $1,170,753

  Educational

  $974,053

  Medical

  $1,007,552

  Retail

  $1,515,193

Location Insight

City

Westlake

County

Cuyahoga

State

Ohio

Latitude

41.472

Longitude

-81.8935

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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