5543 State RdParma, OH 44134

Property Details for 5543 State Rd

Year built

1968

Construction

WOOD

Lot size

0.15 AC

Property size (Sq ft)

904 SF

Zone code

RB

Property type

Retail space

APN

444-08-004

APU

44408004

Description

This exceptional Parma, OH retail property, situated on a 0.15-acre lot at 5543 State Road, presents a unique investment opportunity. Priced at $239,000, the property boasts a turnkey setup, ideal for immediate occupancy and operation. The building currently functions as a successful business, offering a history of stability and consistent performance. A significant advantage is the attached residential space, perfect for owner occupancy or leasing to employees, providing additional income potential. This versatile space is well-suited for a variety of uses, including its current configuration as a deli and butcher shop. The existing equipment and infrastructure are in place, minimizing start-up costs and allowing for a seamless transition for a new owner. The convenient location offers easy access to major highways, ensuring high visibility and accessibility for customers. The seller is open to owner financing options with a suitable down payment, making this an attractive proposition for qualified buyers. This property represents a rare blend of commercial and residential space, offering both income generation and the potential for significant return on investment. The attached home provides flexibility and convenience, while the established business history minimizes risk. Don't miss this chance to acquire a thriving business and valuable real estate in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $239,065

  6.5%

  $220,676

  7%

  $204,913

• Comparable approach

  Method

  Valuation

  Relative Method

  $213,092

  Geo Method

  $213,092

• Alternative Use

  Use

  Valuation

  Residential

  $186,148

  Hospitality

  $170,511

  Educational

  $141,863

  Medical

  $146,742

  Retail

  $220,676

Location Insight

City

Parma

County

Cuyahoga

State

Ohio

Latitude

41.4109

Longitude

-81.71

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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