6686 Pearl RdParma Heights, OH 44130

Property Details for 6686 Pearl Rd

Year built

1955

Construction

TYPE NOT SPECIFIED

Lot size

0.27 AC

Property size (Sq ft)

6,000 SF

Zone code

C

Property type

Retail properties

Property subtype

Retail space

APN

473-14-038

APU

47314038

Description

This exceptional 11,863 square foot storefront retail building presents a remarkable investment opportunity in Parma Heights, Ohio. Located at 6686 Pearl Rd, 44130, this fully occupied property boasts a diverse tenant mix, including a first-floor bridal shop occupying the front space and a fitness center situated at the rear. The second floor houses a dance studio, providing a stable and varied income stream. The building features two restrooms and a dedicated storage room, enhancing functionality and tenant appeal. Modern upgrades include air conditioning and newer windows, minimizing maintenance costs and maximizing energy efficiency. Attractive building and window signage is already in place. Access is convenient with both front and rear entrance doors, and ample parking is available with a 15-car lot supplemented by street parking. The property benefits from its strategic location east of Southland Shopping Center and West 130th Street, ensuring high visibility and foot traffic. Easy highway access to I-480 and I-71 further enhances its appeal. This turnkey operation offers a strong return on investment with a current asking price of $515,000. Don't miss this chance to acquire a thriving retail property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,586,717

  6.5%

  $1,464,662

  7%

  $1,360,043

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,414,325

  Geo Method

  $1,414,325

• Alternative Use

  Use

  Valuation

  Residential

  $1,235,497

  Hospitality

  $1,131,709

  Educational

  $941,568

  Medical

  $973,950

  Retail

  $1,464,662

Location Insight

City

Parma Heights

County

Cuyahoga

State

Ohio

Latitude

41.3819

Longitude

-81.7824

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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