12289 Leavitt RdOberlin, OH 44074

Property Details for 12289 Leavitt Rd

Year built

1983

Lot size

6.90 AC

Property size (Sq ft)

8,680 SF

Property type

Retail properties

Property subtype

Strip malls

APN

09-00-056-000-040

APU

900056000040

Description

This exceptional retail opportunity is located at 12289 Leavitt Road in Oberlin, Ohio, within Lorain County's CLE - Northwest submarket. The property consists of two single-story buildings totaling 8,800 square feet situated on a 7-acre lot. The property is currently multi-tenant, offering flexible space options. Two units are immediately available for lease. Unit A offers 1,795 square feet of contiguous space, representing a prime location within this thriving retail center. Unit E provides 1,725 square feet of retail space. The minimum divisible space is 1,760 square feet, allowing for adaptability to various business needs. A significant portion of the property is currently vacant, totaling 3,555 square feet, presenting a unique chance for expansion or new tenancy. The center benefits from a strong anchor tenant, Discount DrugMart, ensuring high foot traffic and visibility. This property is ideal for businesses seeking a prominent location in a well-established retail environment. The property's location in Oberlin, Ohio, offers easy access to major transportation routes and a strong local customer base. This is a rare opportunity to secure retail space in a desirable location with significant potential for growth.

• CAP approach

  CAP return

  Valuation

  6%

  $2,295,451

  6.5%

  $2,118,878

  7%

  $1,967,530

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,046,056

  Geo Method

  $2,046,056

• Alternative Use

  Use

  Valuation

  Residential

  $1,787,353

  Hospitality

  $1,637,206

  Educational

  $1,362,136

  Medical

  $1,408,982

  Retail

  $2,118,878

Location Insight

City

Oberlin

County

Lorain

State

Ohio

Latitude

41.3094

Longitude

-82.2153

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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