21600 Drake RdStrongsville, OH 44149

Property Details for 21600 Drake Rd

Year built

1979

Construction

TYPE NOT SPECIFIED

Lot size

7.48 AC

Property size (Sq ft)

8,148 SF

Zone code

GI

Property type

Office buildings

APN

394-04-006

APU

39404006

Description

This exceptional 40,130-square-foot industrial warehouse is situated on a substantial 22.44-acre lot in the southwest submarket of Cuyahoga County, Ohio. Located at 21600 Drake Road, Strongsville, this single-tenant property boasts a Class B designation and was constructed in 1979. The building comprises a single story with an impressive 18-foot ceiling height, providing ample space for various industrial operations. Its zoning classification is GI. The property's parcel number (APN) is 39404006. Previously used as a chemical mixing and distribution center, this warehouse presents a unique opportunity for businesses seeking a large, well-located industrial space. The building's single-tenant occupancy simplifies management and offers potential for long-term lease stability. The expansive lot size offers significant potential for future expansion or outdoor storage. This property is an ideal choice for companies requiring substantial warehouse space in a convenient and established industrial area. Interested parties should note the property's history as a chemical mixing and distribution center and conduct their own due diligence regarding any potential environmental concerns.

• CAP approach

  CAP return

  Valuation

  6%

  $1,547,277

  6.5%

  $1,428,255

  7%

  $1,326,237

• Comparable approach

  Method

  Valuation

  Relative Method

  $762,164

  Geo Method

  $762,164

• Alternative Use

  Use

  Valuation

  Residential

  $1,771,036

  Hospitality

  $1,622,260

  Educational

  $1,349,701

  Medical

  $1,396,120

  Retail

  $2,099,535

Location Insight

City

Strongsville

County

Cuyahoga

State

Ohio

Latitude

41.291

Longitude

-81.8643

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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