2639 Warrensville Center RdUniversity Heights, OH 44118
- Retail properties
- 288 SF
Property Details for 2639 Warrensville Center Rd
- Year built
- 1987
- Lot size
- 0.57 AC
- Property size (Sq ft)
- 288 SF
- Zone code
- U-7
- Property type
- Retail properties
- Property subtype
- Gas stations
- APN
- 721-06-009
- APU
- 72106009
Description
This exceptional new mixed-use development, JCU Gateway, presents a unique investment opportunity in University Heights, Ohio. Located at 2639 Warrensville Center Rd, 44118, this development is strategically positioned at the gateway to John Carroll University, boasting a student population of 3,673. Groundbreaking is slated for early 2025, with a projected opening in the fall of 2026. The development features 27,630 square feet of planned retail space, ideal for a variety of uses, including restaurants and small shops. A major specialty grocery store (to be announced) will serve as an anchor tenant, driving significant foot traffic. The property offers 186 parking spaces exclusively for retail tenants and customers, ensuring ample convenience. Its prime location on Fairmount Circle provides easy access to the densely populated communities of University Heights, Shaker Heights, and Cleveland Heights. The surrounding area is highly affluent, with over 15,000 residents within a one-mile radius boasting average incomes exceeding $150,000. This development offers unparalleled access to a large, captive audience of students, faculty, and high-income residents, making it an exceptional opportunity for long-term growth and profitability. The property is classified as retail and restaurant space, with a subtype of retail and small shop, and is a new development with multiple tenancy options. The Cuyahoga County location provides access to a robust local economy and infrastructure.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $76,162
- 6.5%
- $70,304
- 7%
- $65,282
-
Comparable approach
- Method
- Valuation
- Relative Method
- $67,888
- Geo Method
- $67,888
-
Alternative Use
- Use
- Valuation
- Residential
- $59,304
- Hospitality
- $54,322
- Educational
- $45,195
- Medical
- $46,750
- Retail
- $70,304
Location Insight
- City
- University Heights
- County
- Cuyahoga
- State
- Ohio
- Latitude
- 41.4874
- Longitude
- -81.5358
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].