12661 Chillicothe RdChesterland, OH 44026

Property Details for 12661 Chillicothe Rd

Year built

1930

Lot size

0.50 AC

Property size (Sq ft)

1,316 SF

Property type

Retail properties

Property subtype

Retail space

APN

11-292310

APU

11292310

Description

This exceptional Chesterland, Ohio property presents a unique investment opportunity encompassing a diverse portfolio of assets. Situated on a 0.83-acre lot (162x276 dimensions) at 12661 Chillicothe Road, this mixed-use property boasts a total of 3,572 square feet and includes a former restaurant space (available for lease or occupancy), two one-bedroom apartments, and a freestanding building. The property also features a 200 square foot kitchen, ideal for a cafe or restaurant concept. The main building was constructed in 1930 and benefits from General Commercial zoning, with two apartments grandfathered in. Utilities include public sewer, private water, and baseboard, gas, hot water, and steam heating. Cooling is provided by wall units. The property also includes a full or partial unfinished basement and outside parking. The asking price is $400,000, translating to $111.98 per square foot. This location offers excellent visibility, being adjacent to a township park, and presents a compelling opportunity for owner-users or investors seeking a multi-faceted income stream. Tenant responsibilities include cable TV, electricity, gas, heat, other utilities, sewer, and trash collection. The property's APN is 11-292310 11-292320. This is a net lease property.

• CAP approach

  CAP return

  Valuation

  6%

  $348,020

  6.5%

  $321,249

  7%

  $298,303

• Comparable approach

  Method

  Valuation

  Relative Method

  $310,209

  Geo Method

  $310,209

• Alternative Use

  Use

  Valuation

  Residential

  $270,986

  Hospitality

  $248,221

  Educational

  $206,517

  Medical

  $213,620

  Retail

  $321,249

Location Insight

City

Chesterland

County

Geauga

State

Ohio

Latitude

41.5244

Longitude

-81.3374

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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