Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    LaGrange Outparcel Opportunity For Sale Title is generated by Realmo AI

    540 N Center St, Lagrange, OH

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

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

    Type:LAND
    Lot size:
    1.50 Acres
    Added:
    Nov 27, 2024
    Days on Market:
    557
    Last Refresh:
    May 20 at 8:12 pm

    Property Features for 540 N Center St

    General Information

    Standard status
    Active
    Lot size
    1.50 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Lisa Wiener

    Listing agent Lisa Wiener

    Listing office Arnold J. Eisenberg, Inc.

    Listing date Nov 27, 2024

    Source Moodyscre

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

    All listing content including descriptions, pricing, images are the copyrighted material of Arnold J. Eisenberg, Inc.

    HighLights

    • 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.
    • Proximity to future 130+ unit single and multi‑family development.
    • Located approximately 28 miles from Cleveland, Ohio, with easy access to I‑480 and U.S Highway 20.
    • City of LaGrange is eager to work with developers or end‑users.

    Overview

    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.
    Property Profile Location Intelligence

    Current Use by Public Records

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

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Lagrange
    County
    Lorain
    State
    Ohio
    Longitude
    -82.1196
    Latitude
    41.2472

    Nearby Similar for Sale

    • $299,999
      12,292 SF

      LaGrange Flex Space with Warehouse

      Two buildings on 1.61 acres with office and warehouse.
      121 Commerce Dr W, LaGrange, OH 44050
      View Details
    • $169,900

      LaGrange Commercial Property For Sale

      Commercial property in central LaGrange with high visibility.
      111 S Center Street, LaGrange, OH 44050
      View Details
    • $69,500

      Waterfront Lot in Golf Community

      Premium .24-acre waterfront lot in Greyhawk golf community.
      800 BUCKINGHAM DRIVE, 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
      View Details
    • $399,999
      12,000 SF

      LaGrange Warehouse with Fenced Yard

      12,000 sqft warehouse with fenced outdoor storage and drive-in doors.
      121 West Commerce Drive, LaGrange, OH 44050
      View Details
    • $14,900

      Vacant Lot in Pheasant Run

      Vacant cul-de-sac lot in a sought-after community.
      46 Perch Court, LaGrange, OH 44050
      View Details
    • $69,500

      Waterfront Lot in Golf Community

      Premium homesite with water frontage and golf course views.
      800 Buckingham Drive, LaGrange, OH 44050
      View Details
    • $60,000

      LAND - LaGrange, OH

      202 General Lee Street, LaGrange, OH 44050
      View Details
    • $2,325,000
      47,730 SF

      Manufacturing Facility with Expansion Potential

      Manufacturing facility with heavy power, multiple doors, and expansion land.
      300 Commerce Dr, LaGrange, OH
      View Details
    • Contact for pricing

      Prime Land in North Pointe

      4.18 acre site at North Pointe Development entrance.
      16206 Center St, LaGrange, OH
      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.
    (216) 831-6773 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Lisa Wiener
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    540 N Center St, LaGrange, OH
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!