8111 Day DrParma, OH 44129

Property Details for 8111 Day Dr

Year built

1979

Construction

TYPE NOT SPECIFIED

Lot size

0.74 AC

Property size (Sq ft)

5,771 SF

Zone code

CB

Property type

Retail properties

Property subtype

Turn key restaurants

APN

449-26-004

APU

44926004

Description

This exceptional 0.75-acre outparcel in Parma, Ohio, presents a unique opportunity for retail development. Located at 8111 Day Drive, this property offers up to 5,000 square feet of build-to-suit space directly in front of a thriving Giant Eagle grocery store. The site's strategic location ensures high visibility and accessibility, benefiting from a traffic signal directly connected to the Giant Eagle. Currently operating as a Denny's restaurant, this parcel is zoned as a Shopping Center District, allowing for a diverse range of uses including banks, restaurants (including drive-thrus), retail establishments, and automotive businesses. The surrounding area boasts a strong demographic profile, with over 100,000 residents within a 3-mile radius and average household incomes exceeding $70,000. This presents a compelling investment opportunity for developers seeking a high-traffic location with significant growth potential. The property is available for ground lease or build-to-suit arrangements, offering flexibility to tailor the development to specific needs. This is an ideal location for businesses seeking to capitalize on a densely populated area with high consumer spending. The existing infrastructure and zoning regulations simplify the development process, making this a truly attractive proposition for discerning investors and developers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,526,158

  6.5%

  $1,408,761

  7%

  $1,308,135

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,360,345

  Geo Method

  $1,360,345

• Alternative Use

  Use

  Valuation

  Residential

  $1,188,342

  Hospitality

  $1,088,515

  Educational

  $905,632

  Medical

  $936,778

  Retail

  $1,408,761

Location Insight

City

Parma

County

Cuyahoga

State

Ohio

Latitude

41.3801

Longitude

-81.7406

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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