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24610 Detroit Rd
Westlake, OH 44145
Teal Place North · Office Property For Sale
·
29,000 SF


1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 6.31% |
| Sale Type | Investment |
| Cap Rate | 6.31% |
Description
2nd floor suite of a professionally managed office complex known as Teal Place.
Suite 220 425 SF , 250 1,638 SF ,270 2,200 SF- 5,000.00 sq ft total
Suite 220 425 SF , 250 1,638 SF ,270 2,200 SF- 5,000.00 sq ft total
Sale Notes
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.
Ideal for investors seeking stable income with value-add potential or owner-users looking to offset occupancy costs through tenant income.
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.
Ideal for investors seeking stable income with value-add potential or owner-users looking to offset occupancy costs through tenant income.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 220 | 5,000 SF | Office | Upon Request | $35,229.23 CAD |
Unit 220
| Unit Size |
| 5,000 SF |
| Condo Use |
| Office |
| Price |
| Upon Request |
| NOI |
| $35,229.23 CAD |
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Unit 220
| Unit Size | 5,000 SF |
| Condo Use | Office |
| Price | Upon Request |
| NOI | $35,229.23 CAD |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| Description | |
| 2nd floor suite of a professionally managed office complex known as Teal Place.<br> <br> Suite 220 425 SF , 250 1,638 SF ,270 2,200 SF- 5,000.00 sq ft total</li></ul> | |
| Sale Notes | |
| 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.<br> 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.<br> 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.<br> 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.<br> 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.<br> Ideal for investors seeking stable income with value-add potential or owner-users looking to offset occupancy costs through tenant income.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 29,000 SF | Typical Floor Size | 14,500 SF |
| Property Type | Office (Condo) | Year Built | 1989 |
| Building Class | C | Lot Size | 2.61 AC |
| Floors | 2 | Parking Ratio | 5.2/1,000 SF |
| Zoning | GB - GENERAL BUSINESS | ||
| Total Building Size | 29,000 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 2 |
| Typical Floor Size | 14,500 SF |
| Year Built | 1989 |
| Lot Size | 2.61 AC |
| Parking Ratio | 5.2/1,000 SF |
| Zoning | GB - GENERAL BUSINESS |
Amenities
- 24 Hour Access
- Property Manager on Site
- Security System
- Signage
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Videos
Matterport 3D Exterior
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Photos
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