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37111 Euclid Ave
Willoughby, OH 44094
Willoughby One Center · Retail Property For Sale
Investment Highlights
- 11,250 SF building with 9 units
- Zoned L1 for commercial use
- Excellent visibility and foot traffic
- Built in 1998 with modern features
- Prime location in the Cleveland area
- Versatile space for retail or street retail
Executive Summary
Rare opportunity with this meticulously maintained retail/office asset, located in the heart of Willoughby, OH business district. Situated directly across the street from a newly constructed national grocery, this 11,000+sqft property boasts nine units, occupied by six well established tenants and a newly signed lease from a current tenant. Most leases are in place through 2027. Plenty of room for improvement as current rents are at the low end of market, and can be transitioned into NNN leases. The majority of high ticket Capital Expenditures have already been done in the last five years with; new roof in 2022, HVAC units from 2017-2021, new front supports in 2023, parking lot in 2021. These opportunities do not come available very often in Willoughby, add to your portfolio today!
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
11,250 SF
Building Class
B
Year Built
1998
Price
$2,720,620 CAD
Price Per SF
$241.83 CAD
Cap Rate
6.23%
NOI
$169,386 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
9’
Building FAR
0.32
Lot Size
0.81 AC
Zoning
L1 - General Business
Parking
40 Spaces (3.56 Spaces per 1,000 SF Leased)
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