480 Pearl RdBrunswick, OH 44212

Property Details for 480 Pearl Rd

Year built

1958

Lot size

1.01 AC

Property size (Sq ft)

2,122 SF

Property type

Retail properties

Property subtype

Bars

APN

001-02A-17-173

APU

00102A17173

Description

This exceptional 2.25-acre commercial land parcel presents a unique redevelopment opportunity in Brunswick, Ohio. Strategically located on Pearl Road, this property boasts 410 feet of frontage and 400 feet of depth on Chestnut Avenue. The site comprises seven separate parcels, offering flexibility for various development plans. All utilities are readily available. A clean Phase 1 environmental assessment was completed in 2022. The property is zoned C-2 Community Commercial (Brunswick Hills) and G-C General Commercial (Brunswick), allowing for a wide range of commercial uses. Situated just one mile north of the intersection of Pearl Road and Center Road (Rt 303), this location offers convenient access to I-71 (3.8 miles, 10-minute drive). The high traffic count on Pearl Road (14,668 vehicles daily) ensures excellent visibility and accessibility. Annual real estate taxes for 2023 were $6,546.76. This thriving area, situated between Grafton and Boston Road, benefits from a dense residential population. The existing structure will require demolition, presenting a blank canvas for your vision. The asking price is $399,000, translating to approximately $177,333 per acre. This is an unparalleled opportunity to capitalize on the growth and potential of this prime Brunswick location.

• CAP approach

  CAP return

  Valuation

  6%

  $592,353

  6.5%

  $546,787

  7%

  $507,731

• Comparable approach

  Method

  Valuation

  Relative Method

  $500,200

  Geo Method

  $500,200

• Alternative Use

  Use

  Valuation

  Residential

  $461,235

  Hospitality

  $422,489

  Educational

  $351,506

  Medical

  $363,595

  Retail

  $546,787

Location Insight

City

Brunswick

County

Medina

State

Ohio

Latitude

41.2623

Longitude

-81.842

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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