5500 Wallings RdNorth Royalton, OH 44133

  • Retail properties
  • 43,900 SF
For Lease
$13/SF/YR View listing

Property Details for 5500 Wallings Rd

Year built
1978
Construction
TYPE NOT SPECIFIED
Lot size
4.34 AC
Property size (Sq ft)
43,900 SF
Zone code
LB
Property type
Retail properties
Property subtype
Outlet malls
APN
489-11-004
APU
48911004

Description

This exceptional single-story, 43,900 square foot commercial property, located at 5500 Wallings Road in North Royalton, Ohio, presents a unique investment opportunity. The building, situated on a 4.84-acre lot, features a mix of retail and office space, currently offering 7,197 square feet of vacant space. The property is zoned LB and is conveniently located at the northwest corner of State Road and Wallings Road, providing excellent visibility and accessibility. The site boasts a substantial 247-space parking lot, ensuring ample parking for tenants and customers. The building is anchored by Discount Drug Mart, providing a strong draw for foot traffic. Available space ranges from a minimum of 1,260 square feet to a maximum contiguous space of 5,937 square feet, making it suitable for a variety of businesses. The property benefits from easy access to I-77, enhancing its appeal to commuters and businesses. Recent improvements include a new storefront and patio. The high traffic count of 21,668 vehicles per day (ADT) on Wallings Road and State Road further underscores the property's prime location and potential for success. This is a rare opportunity to secure a well-located, versatile commercial space in a thriving Cuyahoga County market. The property's features, including ample parking and high visibility, make it an ideal location for a variety of businesses. Contact us today to learn more about this exceptional opportunity.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $12,272,701
    6.5%
    $11,328,647
    7%
    $10,519,458
  • Comparable approach

    Method
    Valuation
    Relative Method
    $10,348,143
    Geo Method
    $10,348,143
  • Alternative Use

    Use
    Valuation
    Residential
    $9,556,137
    Hospitality
    $8,753,371
    Educational
    $7,282,702
    Medical
    $7,533,165
    Retail
    $11,328,647
5500 Wallings Rd, North Royalton, Ohio

Location Insight

City
North Royalton
County
Cuyahoga
State
Ohio
Latitude
41.3314
Longitude
-81.7255
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$70,387
$327,710
$639,490
$967,200
-
$936,300
$1,827,100
$2,763,400

FAQs

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