32499 Lorain RdNorth Ridgeville, OH 44039

Property Details for 32499 Lorain Rd

Year built

1965

Lot size

1.00 AC

Property size (Sq ft)

1,708 SF

Property type

Retail properties

Property subtype

Gas stations

APN

07-00-003-102-065

APU

700003102065

Description

This exceptional 1-acre commercial lot in North Ridgeville, Ohio (APN 0700003102065), is perfectly situated for immediate development. Located at 32499 Lorain Rd, 44039, this property boasts a highly desirable B-3 Highway Commercial District zoning (Chapter 1268), allowing for a wide range of retail, restaurant, and service uses, including car washes. The site, measuring approximately 213' x 576', benefits from two existing curb cuts and shared access with a neighboring Starbucks, ensuring optimal traffic flow and visibility at a signalized intersection. Daily traffic counts average approximately 17,451 vehicles. This prime location is within a thriving retail corridor, adjacent to a new Starbucks and surrounded by established businesses such as McDonald's, Burger King, Culver's, Panera Bread, Sheetz, Chipotle, Taco Bell, Dunkin', Kindercare, and University Hospitals. The previous building has been demolished, leaving the site cleared and ready for construction. A comprehensive due diligence package is available for prospective buyers. Asking price is $1,200,000.

• CAP approach

  CAP return

  Valuation

  6%

  $451,686

  6.5%

  $416,940

  7%

  $387,159

• Comparable approach

  Method

  Valuation

  Relative Method

  $402,611

  Geo Method

  $402,611

• Alternative Use

  Use

  Valuation

  Residential

  $351,705

  Hospitality

  $322,160

  Educational

  $268,033

  Medical

  $277,251

  Retail

  $416,940

Location Insight

City

North Ridgeville

County

Lorain

State

Ohio

Latitude

41.3842

Longitude

-81.9775

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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