8747 Brecksville RdBrecksville, OH 44141

  • Retail properties
  • 11,016 SF
For Sale
$3,213,174 View listing

Property Details for 8747 Brecksville Rd

Year built
1962
Construction
TYPE NOT SPECIFIED
Lot size
1.35 AC
Property size (Sq ft)
11,016 SF
Zone code
R-20
Property type
Retail properties
Property subtype
Banks
APN
601-36-005
APU
60136005

Description

This exceptional mixed-use investment property, located at 8747 Brecksville Rd in Brecksville, Ohio (44141), presents a compelling opportunity for discerning investors. The 10,603 square foot building, constructed in 1962 and renovated in 2004, sits on a 1.35-acre lot and boasts a strong 100% occupancy rate. Currently housing four tenants – Westfield Bank, Brecksville Dermatology, Platelet Disorder Support Association, and Home Instead – this multi-tenant building offers excellent diversification and stability. The property's strong financial performance is reflected in its impressive 7.75% capitalization rate and a Net Operating Income (NOI) of $249,021, with an asking price of $3,213,174 ($303.04 per square foot). The building is a two-story structure, categorized as mixed-use, encompassing office and retail spaces. Its prime downtown Brecksville location, coupled with a robust demographic profile and high household income ($170,000), ensures consistent demand and long-term value. This is a turnkey investment opportunity with excellent building condition and anchor tenant stability, making it an ideal addition to any portfolio. The property is situated in Cuyahoga County.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,079,637
    6.5%
    $2,842,742
    7%
    $2,639,689
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,596,700
    Geo Method
    $2,596,700
  • Alternative Use

    Use
    Valuation
    Residential
    $2,397,959
    Hospitality
    $2,196,518
    Educational
    $1,827,477
    Medical
    $1,890,327
    Retail
    $2,842,742
8747 Brecksville Rd, Brecksville, Ohio

Location Insight

City
Brecksville
County
Cuyahoga
State
Ohio
Latitude
41.3242
Longitude
-81.6262
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
$51,410
$164,960
$456,300
$621,260
-
$471,300
$1,303,700
$1,775,000

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