14039 Lorain AveCleveland, OH 44111

Property Details for 14039 Lorain Ave

Year built

1971

Lot size

0.40 AC

Property size (Sq ft)

1,320 SF

Zone code

GR

Property type

Parking lots & garages

APN

022-01-013

APU

2201013

Description

This ±0.4-acre commercial lot presents a unique investment opportunity. Strategically located near the highly visible intersection of Lorain Avenue and West 140th Street, this property enjoys excellent visibility and accessibility. Its adjacency to a Wendy's restaurant further enhances its desirability. The site is zoned for commercial use, offering flexibility for a variety of development options. The area boasts a substantial population base, with over 300,000 residents within a 5-mile radius, ensuring a strong potential customer base for any commercial venture. Convenience is a key feature, with proximity to public transportation; the property is situated just 0.5 miles from the RTA West Park Rapid Station Park and Ride, providing easy access for commuters and employees. Furthermore, the location benefits from the presence of numerous major retailers in close proximity, including Starbucks, Popeye's, Subway, Aldi, Marcs, Ross, Big Lots, and Burlington, creating a vibrant and thriving commercial environment. The property's APN is 022-01-013. This parcel is available for sale or ground lease, making it an attractive proposition for both developers and investors seeking a strategic foothold in a densely populated and commercially active area. The single-tenant zoning provides a clear path for development.

• CAP approach

  CAP return

  Valuation

  6%

  $349,078

  6.5%

  $322,226

  7%

  $299,210

• Comparable approach

  Method

  Valuation

  Relative Method

  $311,151

  Geo Method

  $311,151

• Alternative Use

  Use

  Valuation

  Residential

  $271,809

  Hospitality

  $248,976

  Educational

  $207,145

  Medical

  $214,269

  Retail

  $322,226

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.4546

Longitude

-81.7911

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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