28861 Euclid AveWickliffe, OH 44092

Property Details for 28861 Euclid Ave

Year built

1973

Lot size

0.50 AC

Property size (Sq ft)

7,720 SF

Zone code

GB

Property type

Office buildings

APN

29-A-008-I-00-004-0

APU

29A008I000040

Description

This exceptional 7,150 square foot mixed-use building in Wickliffe, Ohio, presents a compelling investment opportunity. The property, situated on a 0.496-acre lot at 28861 Euclid Ave, boasts 36 parking spaces and is zoned for General Business use. The two-story structure offers versatile space, ideal for a variety of uses. The ground level comprises two separate units: a 2,475 square foot owner's suite and a 1,100 square foot suite currently occupied by a month-to-month tenant. The lower level, encompassing 3,575 square feet, features a 10' x 10' drive-in door, a separate restroom, a small office area, and a large open space suitable for storage, display, or light manufacturing. This area is equipped with a Reznor heating system. The entire building is fully air-conditioned and benefits from 400 amp, 240-volt, 3-phase power. The building's design allows for subdivision into three separate units. Additional features include a glass block entrance, excellent curb appeal, and a highly visible location on US Route 20, minutes from Interstates 90 & 271 and SR 2, ensuring high traffic counts. The asking price is $435,000, translating to $60.84 per square foot. This property offers significant potential for a variety of businesses seeking a well-maintained, strategically located facility. The APN is 29A0081000040.

• CAP approach

  CAP return

  Valuation

  6%

  $1,388,827

  6.5%

  $1,281,994

  7%

  $1,190,424

• Comparable approach

  Method

  Valuation

  Relative Method

  $722,129

  Geo Method

  $722,129

• Alternative Use

  Use

  Valuation

  Residential

  $1,589,673

  Hospitality

  $1,456,132

  Educational

  $1,211,485

  Medical

  $1,253,150

  Retail

  $1,884,532

Location Insight

City

Wickliffe

County

Lake

State

Ohio

Latitude

41.6019

Longitude

-81.4809

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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