940 Babbitt RdEuclid, OH 44123

  • Retail properties
  • 6,086 SF
For Lease

Property Details for 940 Babbitt Rd

Year built
1994
Lot size
5.60 AC
Property size (Sq ft)
6,086 SF
Zone code
U4
Property type
Retail properties
Property subtype
Other automotive properties
APN
643-19-026
APU
64319026

Description

This exceptional Euclid, Ohio retail property, located at 940 Babbitt Rd, offers a total of 45,000 square feet of commercial space currently available for lease. The building is situated in Cuyahoga County, zip code 44123, and presents a unique opportunity for multiple tenants or a single large occupant. The property is categorized as a multi-tenant retail space, allowing for flexible lease arrangements to suit various business needs. Individual spaces range from a minimum of 6,000 square feet to a maximum contiguous space of 27,000 square feet, providing options for businesses of different sizes. The entire 45,000 square feet is currently vacant, presenting a blank canvas for a new tenant or a group of complementary businesses. This prime location in Euclid offers excellent visibility and accessibility, making it an ideal spot for retail operations seeking a strong presence in a thriving community. The property's size and flexibility make it suitable for a wide range of retail concepts, from large-format stores to smaller boutiques. Interested parties are encouraged to inquire about lease terms and availability. The property is ready for immediate occupancy. This is a rare opportunity to secure a significant retail presence in a desirable location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,609,460
    6.5%
    $1,485,656
    7%
    $1,379,537
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,434,597
    Geo Method
    $1,434,597
  • Alternative Use

    Use
    Valuation
    Residential
    $1,253,206
    Hospitality
    $1,147,930
    Educational
    $955,064
    Medical
    $987,910
    Retail
    $1,485,656
940 Babbitt Rd, Euclid, Ohio

Location Insight

City
Euclid
County
Cuyahoga
State
Ohio
Latitude
41.5955
Longitude
-81.5152
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$77,709
$375,660
$332,850
$708,510
-
$1,073,300
$951,000
$2,024,300

FAQs

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