21467 Lorain RdFairview Park, OH 44126

Property Details for 21467 Lorain Rd

Year built

1966

Construction

TYPE NOT SPECIFIED

Lot size

0.21 AC

Property size (Sq ft)

2,400 SF

Zone code

GB-A

Property type

Turn key restaurants

APN

321-33-005

APU

32133005

Description

This exceptional turnkey restaurant opportunity in Fairview Park, Ohio presents a rare chance to acquire a well-established business. Located at 21467 Lorain Rd, this 2,400 square foot freestanding building sits on a 0.21-acre lot with 100 feet of road frontage, providing excellent visibility. The property boasts 15 on-site parking spaces, supplemented by overflow parking agreements with neighboring businesses. Currently operating at 100% occupancy, the restaurant is a second-generation space, fully equipped with three hood systems, a pizza oven, and all necessary kitchen equipment. All furniture, fixtures, and equipment (FF&E) are included in the asking price of $550,000, along with a valuable liquor license (D1, D2, D3, D6, and D3A). The sale is an absolute NNN lease type. The property's APN is 321-33-005. This is a fantastic opportunity for an established restaurant operator or someone looking to launch a new concept in a high-traffic location. The sale includes all FF&E and the liquor license

• CAP approach

  CAP return

  Valuation

  6%

  $634,687

  6.5%

  $585,865

  7%

  $544,017

• Comparable approach

  Method

  Valuation

  Relative Method

  $565,730

  Geo Method

  $565,730

• Alternative Use

  Use

  Valuation

  Residential

  $494,199

  Hospitality

  $452,684

  Educational

  $376,627

  Medical

  $389,580

  Retail

  $585,865

Location Insight

City

Fairview Park

County

Cuyahoga

State

Ohio

Latitude

41.4436

Longitude

-81.8581

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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