Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    540 N Center St Lagrange, OH 44050

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1.5-acre outparcel in front of IGA-anchored shopping center.

    Lot size:
    1.50 Acres

    Property Features for 540 N Center St

    General Information

    Lot size
    1.50 Acres

    We can help!

    Listing Contact
    Brooke Quttaineh, Ccim
    Source: Moodyscre

    Listing Agent: Brooke Quttaineh, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    LaGrange Outparcel Opportunity For Sale

    This 1.5-acre outparcel is available for ground lease, build-to-suit, or sale. It is located in front of the IGA-anchored Sentinel Square Shopping Center in LaGrange, Ohio. The site benefits from a strong existing tenant mix at Sentinel Square, including a credit union, daycare, martial arts studio, dance studio, IGA Foods, and a high-traffic McDonald’s on the adjacent outparcel. The City of LaGrange is ready to collaborate with developers or end-users. The LaGrange community has a strong need for full-service restaurants, medical users such as a dentist or emergency care center, drive-thru restaurants, car washes, gyms, or pet stores. A future development project with over 130 single and multi-family units is soon to break ground diagonally from the site. The property is located approximately 28 miles from Cleveland, Ohio, and offers convenient access to I-480 and U.S Highway 20. There are numerous new multifamily and single-family developments currently in progress nearby.
    Location Intelligence

    Current Use by Public Records

    Lagrange IGA Grocery Store LAGRANGE PHARMACY Pharmacy Cawley's Cafe (in IGA) Coffee Shop

    Suggested Use

    Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Pharmacy Wholesale Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lagrange
    County
    Lorain
    State
    Ohio
    Longitude
    -82.119646
    Latitude
    41.247168

    Nearby Similar for Sale

    • New
      $169,900
      0.62 Acres

      LaGrange Commercial Opportunity For Sale

      Commercial property in LaGrange, zoned Central Business, with high visibility.
      111 S Center St, Lagrange, OH 44050
      View Details
    • $239,900
      0.38 Acres

      Commercial Building in LaGrange, OH

      Commercial building ideal for small business, rental income, or workspace.
      122 Railroad St, Lagrange, OH 44050
      View Details
    • $4,063,000
      47,576 SF

      Renovated Industrial Warehouse in LaGrange

      Fully renovated industrial warehouse with modern upgrades and ample space.
      186 Commerce Dr, Lagrange, OH 44050
      View Details
    • $2,350,000
      47,730 SF

      Manufacturing Facility with Expansion Potential

      Manufacturing facility with heavy power, multiple doors, and expansion land.
      300 Commerce Dr, Lagrange, OH 44050
      View Details
    • $1,475,000
      39,804 SF

      Manufacturing Facility with Expansion Land

      Manufacturing facility with expansion land and easy highway access.
      110 Commerce Dr, Lagrange, OH 44050
      View Details
    • $725,000
      8,400 SF

      8,400 SF Flex Building

      Flex building on three acres with expansion potential.
      350 E Commerce Dr, Lagrange, OH 44050
      View Details
    • $179,900
      1,784 SF

      LaGrange Business Opportunity: High Visibility Location

      Prime commercial space, updated building, high traffic area.
      111 Center St, LaGrange, OH 44050
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.5-acre outparcel in front of IGA-anchored shopping center.
    Where is this commercial land located?
    The property is located at 540 N Center St Lagrange, OH.
    What are key features of this property?
    This property features: - 1.5 acre outparcel suitable for Ground Lease, Build-To-Suit, or Sale.; - Located in front of IGA-anchored Sentinel Square Shopping Center.; - Strong existing tenant mix at Sentinel Square, including IGA Foods and McDonald’s.
    (407) 777-9660
    Request Owner's contact information
    540 N Center St Lagrange, OH 44050
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    540 N Center St
    Lagrange, OH 44050
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    540 N Center St Lagrange, OH 44050
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brooke Quttaineh, Ccim
    Real Estate License ID: BK 3466943
    (407) 777-9660
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.