874 Aurora RdMacedonia, OH 44056

Property Details for 874 Aurora Rd

Year built

1969

Lot size

0.42 AC

Property size (Sq ft)

3,936 SF

Property type

Retail properties

Property subtype

Retail space

APN

33-03507

APU

3303507

Description

This exceptional investment opportunity presents a fully leased, three-unit retail center in Macedonia, Ohio, boasting nearly 4,000 square feet of rentable space on a 0.42-acre lot. Currently operating at 80% occupancy, the property generates a stable monthly income of $2,850 plus CAM fees from established tenants, including a daycare and salon. A vacant 1,500 square foot unit offers significant upside potential, projecting a total pro forma monthly income of $4,350 plus CAM fees. Recent improvements include a brand-new (2023) 17-space parking lot. Each unit features its own Trane furnace (inspected annually), private hot water tank, and bathroom. A recent 30-foot sewer scope confirmed no blockages. The property is conveniently located off I-271, a major thoroughfare with high daily traffic volume (15,000-18,000 vehicles directly, and over 60,000 vehicles on nearby I-271), and is surrounded by national retailers such as Starbucks, Hobby Lobby, Planet Fitness, Home Depot, Nordstrom Rack, and Pulp, ensuring high visibility and accessibility. Situated in a thriving area with a median household income exceeding $100,000 and a growing population, this B-1 zoned property in the Convenience Business District offers strong leasing potential and immediate cash flow in one of Northeast Ohio's most desirable markets. While the age of the roof and mechanical systems is unknown, the property's recent upgrades and strong tenant base make it a compelling investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,100,350

  6.5%

  $1,015,707

  7%

  $943,157

• Comparable approach

  Method

  Valuation

  Relative Method

  $927,797

  Geo Method

  $927,797

• Alternative Use

  Use

  Valuation

  Residential

  $856,787

  Hospitality

  $784,812

  Educational

  $652,955

  Medical

  $675,411

  Retail

  $1,015,707

Location Insight

City

Macedonia

County

Summit

State

Ohio

Latitude

41.3135

Longitude

-81.5074

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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