29303 Euclid AveWickliffe, OH 44092

Property Details for 29303 Euclid Ave

Year built

1986

Construction

WOOD

Lot size

0.80 AC

Property size (Sq ft)

5,784 SF

Zone code

GB

Property type

Retail properties

Property subtype

Turn key restaurants

APN

29-A-004-E-00-034-0

APU

29A004E000340

Description

This exceptional turn-key opportunity presents a well-established, family-owned Italian restaurant and its accompanying real estate in the thriving Wickliffe, OH market. Petti's Pizza & Ristorante, a beloved local landmark since the 1960s, boasts a consistent track record of success, attracting loyal regulars and new customers alike with its commitment to quality food and service at reasonable prices. The 5,784 square foot building, constructed in 1986 specifically for the restaurant, features an efficient floor plan, seating over 100 indoors and an additional 25 on the patio. Situated on a highly visible .8-acre lot (approximately 151 x 257 feet) with ample parking, the property benefits from steady traffic exposure in a Town Center District (TC) zoning. Recent upgrades include a new roof (2019), new AC units (2023), recent electrical updates (2023), a new dishwasher, and updated compressor units for freezers (2023). The sale includes a valuable D2, D2X, D3 & D6 liquor license. Wickliffe's point of sale requirements have been met. This is a unique opportunity to acquire both a thriving business and its prime real estate location, all in one package. A detailed information packet, including photos, building sketches, zoning details, equipment lists, and more, is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,529,596

  6.5%

  $1,411,934

  7%

  $1,311,082

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,363,409

  Geo Method

  $1,363,409

• Alternative Use

  Use

  Valuation

  Residential

  $1,191,019

  Hospitality

  $1,090,967

  Educational

  $907,672

  Medical

  $938,888

  Retail

  $1,411,934

Location Insight

City

Wickliffe

County

Lake

State

Ohio

Latitude

41.6063

Longitude

-81.4747

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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