Wickliffe Commercial Property with
30150 Lakeland Blvd, Wickliffe, OH 44092
For Sale
$2,000,000
3.22 acres with three buildings, retail, and warehouse space.
Property Size10,000 SF
Lot Size3.22 Acres
Price / SF$200
Days on Market230
Property Features for 30150 Lakeland Blvd
General Information
Standard status
Size
Class
Lot size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
RIOsource Group
Listed By:
Douglas Klang
(937) 206-1925
Source:
Thebrokerlist
Added: Mar 27
Changed: Nov 4
Last Checked: Nov 10 at 5:01AM
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 RIOsource Group
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Investment Insights
Based on property information with market context.
This commercial property is situated on 3.22 acres in Wickliffe, Ohio, conveniently located off Route 2. The property includes three commercial buildings. One building features an updated retail area with three offices and two bathrooms. The rear of this building provides approximately 10,000 square feet of warehouse space, equipped with four dock doors and infrared tube heating. A large outdoor wood burner system, valued at $22,000, is present to potentially reduce gas heating costs. There is a tenant in the east side building, generating $3,500 in monthly rent. The building at the back of the property includes a large dock door and warehouse storage space. A newer $200,000 industrial digital scale is installed and ready for use. The property offers various potential uses.
Key Highlights
- Prime 3.22‑acre commercial property located right off Rt 2 in Wickliffe, Ohio.
- Includes three commercial buildings, offering diverse usage possibilities.
- One building features an updated retail area with offices and warehouse space (approx. 10,000 sq ft) with dock doors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,024
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,220,480
$2.2M
Cap Rate 7%
$1,586,057
$1.6M
Cap Rate 9%
$1,233,600
$1.2M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$231.0K $23.10/SF
− Vacancy
−$53.4K −$5.34/SF
EGI
$177.6K $17.76/SF
− OpEx
−$66.6K −$6.66/SF
NOI
$111.0K $11.10/SF
Area
Lake County, OH
Vacancy
23.10%
Lease Rate
$23.10 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,220,480
Cap Rate 7%
$1,586,057
Cap Rate 9%
$1,233,600
Alternative Uses
Best Use
Mixed Use
$1.59M
$1.39M – $1.85M
NOI $111,024 @ 7.0% cap · market cap 5.55%
Second Best
Retail
$1.34M
$1.17M – $1.56M
NOI $93,759 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$2.31M
$2.02M – $2.69M
NOI $161,675 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 44092, OH
16,786
Population
8,258
Households
2
Avg Household Size
43
Median Age
28%
College-Educated
95%
High-School Grad
7.4 sq mi
ZIP Area
2,268
Density / Sq Mi
$67,907
Median Household Income
$41,236
Median Earnings
$1,059
Median Rent
$167,100
Median Home Value
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Market
Properties on Market for Warehouses in Lake County
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - 3.22 acres with three buildings, retail, and warehouse space.
Where is this warehouse located?
The property is located at 30150 Lakeland Blvd Wickliffe, OH.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Prime 3.22‑acre commercial property located right off Rt 2 in Wickliffe, Ohio.; Includes three commercial buildings, offering diverse usage possibilities.; One building features an updated retail area with offices and warehouse space (approx. 10,000 sq ft) with dock doors.
