426 Opportunity WayLaGrange, OH 44050

Property Details for 426 Opportunity Way

Lot size

1.49 AC

Property size (Sq ft)

3,552 SF

Property type

Healthcare properties

Property subtype

Assisted living facilities

APN

15-00-055-104-099

APU

1500055104099

Description

This exceptional 3.295-acre parcel, located at 426 Opportunity Way, LaGrange, Ohio 44050 (APN 1500055104100), presents a unique investment opportunity. Currently zoned R-1, the property offers significant potential for various developments. The land's size and zoning provide flexibility for a range of projects. While the current zoning is R-1, the marketing materials indicate a transitional use district (T-1) designation, allowing for a broader spectrum of permitted uses. These include, but are not limited to, supervised nursing care facilities, assisted living and physical rehabilitation centers, along with associated hospitality suites. Additionally, the zoning permits professional offices, banks and other financial institutions, and outpatient medical and surgical hospitals, medical centers, and clinics. This makes the property attractive to developers seeking to capitalize on the growing demand for healthcare and related services in the area. The asking price for this strategically located land is $78,000. This represents a compelling opportunity for investors seeking a high-return development project in a desirable Ohio location. The property's address is easily accessible, offering convenient access to local amenities and transportation routes. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $658,208

  6.5%

  $607,576

  7%

  $564,178

• Comparable approach

  Method

  Valuation

  Relative Method

  $382,092

  Geo Method

  $382,092

• Alternative Use

  Use

  Valuation

  Residential

  $770,736

  Hospitality

  $705,990

  Educational

  $587,375

  Medical

  $607,576

  Retail

  $913,695

Location Insight

City

Lagrange

County

Lorain

State

Ohio

Latitude

41.2306

Longitude

-82.1124

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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