5594 Pearl RdParma, OH 44129

Property Details for 5594 Pearl Rd

Year built

1920

Lot size

0.18 AC

Property size (Sq ft)

1,394 SF

Zone code

RB

Property type

Parking lots & garages

APN

442-32-056

APU

44232056

Description

This exceptional 0.347-acre commercial land parcel in Parma, Ohio, presents a unique development opportunity. Located on Pearl Road between Ridge and Snow Roads, this shovel-ready site boasts approximately 100 feet of frontage and 175 feet of depth, ensuring excellent visibility and exposure for your business. The property's Local Retail zoning makes it ideal for a variety of retail uses. All utilities are conveniently located on the site, simplifying development and reducing costs. The high vehicle counts on Pearl Road, combined with the proximity to numerous existing retailers and restaurants, create a strong foundation for success. This attractive property consists of two parcels, APN 44232055 and 44232056, and is offered at an asking price of $119,500. Its prime location and readily available infrastructure make this an exceptional investment for discerning developers seeking a high-impact retail presence in a thriving community. Don't miss this chance to acquire a highly visible and easily developed commercial lot in a desirable area with significant potential for growth and return. The property's convenient location and zoning make it a perfect fit for a wide range of commercial ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $368,647

  6.5%

  $340,290

  7%

  $315,983

• Comparable approach

  Method

  Valuation

  Relative Method

  $328,595

  Geo Method

  $328,595

• Alternative Use

  Use

  Valuation

  Residential

  $287,047

  Hospitality

  $262,934

  Educational

  $218,758

  Medical

  $226,281

  Retail

  $340,290

Location Insight

City

Parma

County

Cuyahoga

State

Ohio

Latitude

41.4098

Longitude

-81.739

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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