26368 Lorain RdNorth Olmsted, OH 44070

Property Details for 26368 Lorain Rd

Lot size

0.23 AC

Property type

Turn key restaurants

APN

232-28-053

APU

23228053

Description

This exceptional investment opportunity presents a vacant, 1,700 square foot Quick Service Restaurant (QSR) building situated on a 0.46-acre lot in the thriving city of North Olmsted, Ohio. Built in 1965, the freestanding structure boasts a convenient drive-thru, a significant advantage for quick and efficient customer service. The property is ideally located on Lorain Road, near the prominent Great Northern Mall, ensuring high visibility and accessibility to a substantial customer base. The building offers excellent visibility thanks to prominent pylon signage. With a total of 1,653 square feet of space, the property is priced at $800,000, translating to $483.97 per square foot. The property's strategic location provides easy egress access to a traffic signal on Silverdale Road, further enhancing its appeal to potential tenants. This vacant QSR presents a unique chance to establish or relocate a thriving food service business in a high-traffic area with strong potential for growth and return on investment. The property's size and features make it suitable for a variety of QSR concepts. The address is 26368 Lorain Rd, North Olmsted, OH 44070.

• CAP approach

  CAP return

  Valuation

  6%

  $2,689,486

  6.5%

  $2,482,602

  7%

  $2,305,274

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,397,280

  Geo Method

  $2,397,280

• Alternative Use

  Use

  Valuation

  Residential

  $2,094,168

  Hospitality

  $1,918,246

  Educational

  $1,595,959

  Medical

  $1,650,846

  Retail

  $2,482,602

Location Insight

City

North Olmsted

County

Cuyahoga

State

Ohio

Latitude

41.4196

Longitude

-81.9142

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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