20601 Fairmount BlvdShaker Heights, OH 44118

Property Details for 20601 Fairmount Blvd

Year built

1942

Construction

TYPE NOT SPECIFIED

Lot size

1.06 AC

Property size (Sq ft)

11,312 SF

Zone code

C2

Property type

Retail properties

Property subtype

Strip malls

APN

734-04-002

APU

73404002

Description

This exceptional retail opportunity is located at the highly visible Fairmount Circle, the intersection of Fairmount Boulevard and Warrensville Center Road in Shaker Heights, Ohio. Boasting over 30,000 vehicles daily, this location offers unparalleled exposure. The property sits at the gateway to John Carroll University, a vibrant campus with 3,673 students, and is ideally positioned at the crossroads of densely populated University Heights, Cleveland Heights, and Shaker Heights, encompassing over 120,000 residents and 55,000 employees within a three-mile radius. This thriving neighborhood center already includes established businesses such as Huntington Bank, CVS Pharmacy, Dave's Cosmic Subs, Ben & Jerry's, Pizzazz on the Circle, Biggby Coffee, Boaz Fresh Lebanese, and D.O. Summers Dry Cleaners, creating a strong and diverse tenant mix. Two spaces are currently available. The first is a 4,242 square foot former cafe/market space featuring an existing hood and bar area, perfect for a restaurant or similar concept. The second space comprises 900 square feet, offering flexibility for a variety of retail uses. This is a unique chance to establish a business in a high-traffic, well-established center within a thriving community. The property's strategic location and existing infrastructure make it an attractive investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,991,491

  6.5%

  $2,761,376

  7%

  $2,564,135

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,666,474

  Geo Method

  $2,666,474

• Alternative Use

  Use

  Valuation

  Residential

  $2,329,324

  Hospitality

  $2,133,648

  Educational

  $1,775,170

  Medical

  $1,836,221

  Retail

  $2,761,376

Location Insight

City

Shaker Heights

County

Cuyahoga

State

Ohio

Latitude

41.4868

Longitude

-81.5348

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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