4380 Leavitt RdLorain, OH 44053

Property Details for 4380 Leavitt Rd

Lot size

20.70 AC

Property size (Sq ft)

191,168 SF

Property type

Retail properties

Property subtype

Other individual retail properties

APN

02-02-008-107-047

APU

202008107047

Description

This exceptional 0.7-acre commercial land parcel presents a unique investment opportunity in Lorain, Ohio. Situated within Lighthouse Village, a thriving 500,000 square-foot power center, this outparcel enjoys unparalleled visibility and accessibility. The property boasts significant frontage (approximately 110 feet and approximately 40 feet) along major access roads, ensuring maximum exposure to the substantial daily traffic volume of 22,680 vehicles on N Leavitt Road. The strategic location directly in front of a Walmart Supercenter guarantees high foot traffic and convenient access for potential businesses. Further enhancing its appeal, N Leavitt Road features a signalized entrance at the property's access point. The site's proximity to State Route 2 (one mile north) provides easy access to regional transportation networks. This prime location within a well-established retail center offers significant potential for a variety of commercial uses, capitalizing on the established customer base and high traffic counts. The property's size and location make it ideal for a variety of commercial developments.

• CAP approach

  CAP return

  Valuation

  6%

  $50,554,928

  6.5%

  $46,666,088

  7%

  $43,332,796

• Comparable approach

  Method

  Valuation

  Relative Method

  $45,062,272

  Geo Method

  $45,062,272

• Alternative Use

  Use

  Valuation

  Residential

  $39,364,592

  Hospitality

  $36,057,752

  Educational

  $29,999,628

  Medical

  $31,031,362

  Retail

  $46,666,088

Location Insight

City

Lorain

County

Lorain

State

Ohio

Latitude

41.4298

Longitude

-82.2078

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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