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33456056
33456058

24610 Detroit Road, Suite 220, 250 & 270, Westlake, OH 44145

DM
OH BRKP.2007001761
Berkshire Hathaway HomeServices Professional Realty Mason
Listed by Berkshire Hathaway HomeServices Professional Realty Mason
$400,000
1 day on market
Updated 1 day ago

Teal Place

Details
Property Type Office
Sub Type Traditional Office
Square Footage 5,000
Cap Rate 6.31%
NOI $25,240
Tenancy Multi
Pro-Forma Cap Rate 8.64%
Pro-Forma NOI $34,577
Price per SqFt $80
Year Built 1989
Stories 2
Acreage 2.610
Investment Type Value Add

Office | 6.31% CAP | 5,000 SqFt

Marketing description

Rare opportunity to acquire a multi-tenant office condominium in one of Northeast Ohio's most desirable suburban office markets. Located within the professionally managed Teal Place office complex at 24610 Detroit Road in Westlake, this approximately 5,000-square-foot office condominium offers investors and owner-users a compelling combination of in-place income and future upside.

The property currently features two occupied suites with established tenants providing immediate cash flow, while Suite 220 is being delivered vacant, creating an attractive value-add opportunity for a new owner. Whether utilized for owner occupancy, leased to a new tenant, or used as expansion space for an existing occupant, Suite 220 provides flexibility rarely found in today's office market.

Suite 250 is occupied by NTIS Group, a nationally recognized transportation insurance firm with a recently extended lease through July 2028. Suite 270 is occupied by NAFTA Tools, an established consulting and product development company. Together, these tenants provide stable income while leaving meaningful upside through lease-up of the vacant suite.

Teal Place is a well-maintained office campus known for its professional environment, ample parking, attractive pond views, and convenient access to Interstate 90, Crocker Road, Crocker Park, Cleveland Hopkins International Airport, and numerous retail and dining destinations.

Westlake continues to attract businesses seeking a premier suburban location supported by strong demographics, high household incomes, significant daytime population, and ongoing commercial development. The property's location along the Detroit Road corridor places it among major employers, professional service firms, and regional business hubs, supporting long-term leasing demand and future appreciation.

Listing Contacts

DM
OH BRKP.2007001761
Berkshire Hathaway HomeServices Professional Realty Mason
Listed by Berkshire Hathaway HomeServices Professional Realty Mason

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$25,240.00
$2,103.33/mo

Valuation Metrics

0
DSCR
6.31%
Cap Rate
6.31%
ROI

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Additional Information

Name
David Mussari
License
BRKP.2007001761
Brokerage
Berkshire Hathaway HomeServices Professional Realty
Brokerage Phone
513-204-9539
Title
Managing Partner/ Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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