Former Car Dealership on
940 Babbitt Road Euclid, OH 44123
For Sale
$3,400,000
27,192 SF former car dealership on 5.6 acres for sale.
Property Size27,192 SF
Lot Size5.60 Acres
Price / SF$125.04
Days on Market122
Property Features for 940 Babbitt Road
General Information
- Standard status
- Active
- Size
- 27,192 SF
- Lot size
- 5.60 Acres
- Property subtype
- Retail
Listing Agency:
CBRE - Cleveland
(216) 658-6120
Listed By:
Joseph Khouri · License #SAL.2015001299
(216) 658-6120
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Jul 24 at 5:28AM
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 CBRE - Cleveland
Investment Insights
Based on property information with market context.
This 27,192 square foot property on 5.6 acres is a former car dealership. The building features concrete block knee-walls, concrete block fire walls, square cut concrete block exterior walls, and steel stud and glass split face block curtain walls in the showroom and general office areas. The foundation consists of continuous reinforced concrete trench footers, and the framing includes steel columns and girders. The showroom and office areas have an approximate clear ceiling height of 10 feet, while other areas have heights between 10 and 12 feet with finished ceilings. Exterior walls are constructed with metal panel facia and storefront, painted square cut concrete block, split face block, and aluminum framed thermopane glass curtain walls. The roof structure is a standing seam painted steel roof with a metal panel cover. The service area is heated by a mezzanine-mounted gas-fired forced air furnace with a make-up air unit, supplemented by suspended gas-fired radiant units. The showroom and general office area are heated by a mezzanine-mounted gas-fired forced air furnace with two air handling units and three exterior cooling condensers. The property is zoned U4 Retail and Services and has approximately 800 feet of frontage along Babbitt Road and 530 feet along Lakeland. The location has high traffic counts, with 106,839 vehicles per day on Route 2 and 9,806 vehicles per day on Babbitt Road. The site is located across from a new 600,000+ square foot Amazon distribution center and Lincoln Electric, at the gateway to the Euclid industrial market, which has a total of 12.2 million square feet with a 1.8% vacancy rate. The surrounding submarket is densely populated with 77,969 residents within a 3-mile radius and a daytime population of 73,700.
Key Highlights
- High Traffic Counts: See over 106,000 vehicles per day on Route 2.
- Strategic Location: Located across from the new Amazon distribution center and Lincoln Electric.
- High Visibility: Highway visible with frontage along Babbitt and Lakeland.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $407.9k | $15.00 |
| − Vacancy | −$36.7k | −$1.35 |
| EGI | $371.2k | $13.65 |
| − OpEx | −$111.4k | −$4.10 |
| NOI | $259.8k | $9.56 |
27,192 SF · lease $15.00/SF/yr · vacancy 9.00% · expense 30.00%
Alternative Uses
Best Use
Industrial
$17.94M
$15.70M – $20.93M
NOI $1,255,980 @ 7.0% cap · market cap 36.94%
Second Best
Retail
$3.71M
$3.25M – $4.33M
NOI $259,820 @ 7.0% cap · market cap 7.64%
Theoretical Best
Warehouse
$21.79M
$19.06M – $25.42M
NOI $1,525,119 @ 7.0% cap · market cap 44.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Showrooms
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 1084 E 222nd St Bay D, Euclid, OH 44117
FAQs
What type of property is this?
Automotive property - 27,192 SF former car dealership on 5.6 acres for sale.
Where is this automotive property located?
The property is located at 940 Babbitt Road Euclid, OH.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: High Traffic Counts: See over 106,000 vehicles per day on Route 2.; Strategic Location: Located across from the new Amazon distribution center and Lincoln Electric.; High Visibility: Highway visible with frontage along Babbitt and Lakeland.