Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Commercial Land For Sale Title is generated by Realmo AI

    32499 Lorain Road, North Ridgeville, OH 44039

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $895,000

    One acre of land ready for development in retail corridor.

    Type:Land
    Property size:
    1 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $895,000/SF
    Added:
    Mar 25, 2026
    Days on Market:
    58
    Last Refresh:
    Mar 18 at 7:59 am

    Property Features for 32499 Lorain Road

    General Information

    Standard status
    Active
    Size
    1 SF
    Lot size
    1.00 Acre
    Property subtype
    Land

    We can help!

    Listing Contact
    Joseph Khouri
    Joseph Khouri

    Listing agent Joseph Khouri License #2008000837

    Listing office CBRE | Cleveland

    Listing date Mar 25, 2026

    Source Cbre

    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

    HighLights

    • Prime location in a high‑traffic retail corridor.
    • Zoned B‑3 Highway Commercial District, allowing for diverse retail, restaurant, and service uses.
    • Site is ready for development after recent demolition.
    • Shared access with Starbucks and existing curb cuts provide optimal circulation.
    • High traffic count of approximately 17,451 vehicles per day.
    • Due diligence package available for review.

    Overview

    This is a one-acre parcel of land that is ready for development, as the previous building has been demolished. The site dimensions are approximately 213 feet by 576 feet. The property benefits from two existing curb cuts, which provide optimal circulation. There is also shared access with Starbucks, which provides access to the signalized intersection. The property is situated in the center of a bustling retail corridor, directly adjacent to a new Starbucks. Neighboring properties include McDonalds, Burger King, Culver’s, Panera, Sheetz, Chipotle, Taco Bell, Dunkin, and Kindercare, as well as University Hospitals. The traffic count is approximately 17,451 vehicles per day. The zoning is B-3 Highway Commercial District, governed by Chapter 1268 of the city’s zoning code. Many retail, restaurant, and service uses are permitted under the existing zoning code, including car washes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    North Ridgeville
    County
    Lorain
    State
    Ohio
    Longitude
    -81.9774855
    Latitude
    41.3842544

    Nearby Similar for Sale

    • $260,000

      North Ridgeville Wooded Acreage

      7.23 acre wooded lot in North Ridgeville, Ohio.
      Maddock Road lot: E, North Ridgeville, OH 44039
      View Details
    • $115,000

      North Ridgeville Wooded Lot

      2.31-acre wooded lot in North Ridgeville, Ohio.
      Maddock Road lot: C, North Ridgeville, OH 44039
      View Details
    • $115,000

      North Ridgeville Wooded Lot

      2.31-acre wooded lot in a convenient location.
      Maddock Road lot: D, North Ridgeville, OH 44039
      View Details
    • $399,900
      2,188 SF

      Turnkey Medical Office Opportunity

      Well-maintained medical office building with excellent visibility and accessibility.
      34500 Center Ridge Rd, North Ridgeville, OH 44039
      View Details
    • $2,292,000
      2,325 SF

      Chipotle Corporate Lease Investment Opportunity

      New 15-year corporate Chipotle lease in growing North Ridgeville, OH.
      34712 Center Ridge Rd, North Ridgeville, OH 44039
      View Details
    • $75,000

      Wooded Lot in North Ridgeville

      Half-acre wooded lot to build your dream home.
      Maddock Road lot: B, North Ridgeville, OH 44039
      View Details
    • $75,000

      Residential Land in North Ridgeville

      Over half-acre lot in North Ridgeville, build your dream home.
      Maddock Road lot: A, North Ridgeville, OH 44039
      View Details
    • $595,000
      9,024 SF

      Retail Redevelopment Opportunity

      9,024 SqFt retail space on 8.25 acres for sale.
      8820 Bender Rd, North Ridgeville, OH 44039
      View Details
    • $2,261,592

      New Chipotle Restaurant Investment Opportunity

      Corporate lease with Chipotle in growing North Ridgeville, Ohio.
      34712 Center Ridge Rd, North Ridgeville, OH
      View Details
    • $180,000
      2,100 SF

      Versatile Commercial Condo For Sale

      Commercial condo with office and warehouse space in Ridgeville, OH.
      33472 Liberty, North Ridgeville, OH 44039
      View Details
    • $575,000

      Development Ready Land Opportunity

      Prime land parcel in a rapidly growing Ohio community.
      39019 Center Ridge Rd, North Ridgeville, OH
      View Details

    FAQs

    What type of property is this?
    Commercial land - One acre of land ready for development in retail corridor.
    Where is this commercial land located?
    The property is located at 32499 Lorain Road North Ridgeville, OH.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: Prime location in a high‑traffic retail corridor.; Zoned B‑3 Highway Commercial District, allowing for diverse retail, restaurant, and service uses.; Site is ready for development after recent demolition.
    (216) 658-6120
    We can help!
    Listing Contact
    Joseph Khouri
    Joseph Khouri
    Real Estate License ID: 2008000837
    Learn More
    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
    32499 Lorain Road, North Ridgeville, OH, 44039
    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!