24485 Lorain RdNorth Olmsted, OH 44070

Property Details for 24485 Lorain Rd

Year built

1957

Lot size

4.60 AC

Property size (Sq ft)

24,499 SF

Property type

Retail properties

Property subtype

Strip malls

APN

237-01-018

APU

23701018

Description

This exceptional property located at 24485 Lorain Road in North Olmsted, Ohio, presents a unique opportunity for businesses seeking versatile warehouse and retail space. Situated in Cuyahoga County, this multi-tenant building offers a total of 4,500 square feet, with 3,000 square feet currently available for lease. The property is classified as both retail and industrial, making it ideal for a variety of uses. Two individual spaces are immediately available, ranging in size from 1,260 to 1,500 square feet, providing flexibility for businesses of different scales. The building's location in North Olmsted, Ohio, offers convenient access to major transportation routes, ensuring efficient logistics and distribution. The property's zoning allows for a blend of retail and industrial operations, catering to businesses requiring both storefront presence and warehouse functionality. This presents a rare chance to secure prime commercial space in a thriving Ohio community. The available space is ready for immediate occupancy, allowing businesses to quickly establish their operations. Interested parties are encouraged to inquire promptly to secure this desirable property. The zip code for this location is 44070.

• CAP approach

  CAP return

  Valuation

  6%

  $6,478,831

  6.5%

  $5,980,460

  7%

  $5,553,284

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,774,924

  Geo Method

  $5,774,924

• Alternative Use

  Use

  Valuation

  Residential

  $5,044,742

  Hospitality

  $4,620,956

  Educational

  $3,844,581

  Medical

  $3,976,802

  Retail

  $5,980,460

Location Insight

City

North Olmsted

County

Cuyahoga

State

Ohio

Latitude

41.4262

Longitude

-81.8933

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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