Willoughby Retail/Office Investment
37111 Euclid Avenue, Willoughby, OH 44094
Meticulously maintained retail/office asset in the heart of Willoughby, Ohio.
Type:Commercial/Industrial
Property size:
11,250 SFLot size:
0.81 AcresPrice / SF:
$160/SF- Added:
- Mar 11, 2026
- Days on Market:
- 68
- Last Refresh:
- Apr 5 at 11:45 pm
Property Features for 37111 Euclid Avenue
General Information
- Standard status
- Active
- Size
- 11,250 SF
- Lot size
- 0.81 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1998
Listing agent Geoffrey DelGrosso License #2020002251
Listing office Keller Williams Greater Cleveland Northeast (440) 255-5500
Listing date Mar 11, 2026
Source Exitrealty
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 Keller Williams Greater Cleveland Northeast
HighLights
- Prime location in the heart of Willoughby's business district, directly across from a newly constructed national grocery store.
- Meticulously maintained 11,000+ sqft property with recent capital improvements: new roof (2022), HVAC units (2017‑2021), front supports (2023), and parking lot (2021).
- Nine units with a mix of established tenants and a newly signed lease; most leases in place through 2027.
- Opportunity for rent improvement by transitioning to NNN leases.
- Current rents are below market value, providing upside potential.
- Built in 1998.
Overview
This meticulously maintained retail/office property, situated in the heart of Willoughby, Ohio's business district, presents a rare investment opportunity. Located directly across the street from a newly constructed national grocery store, the property features over 11,000 square feet of space. The building is divided into nine units, currently occupied by six well-established tenants and includes a newly signed lease from a current tenant. Most leases extend through 2027. There is potential for increased revenue, as current rents are below market rates and can be transitioned into NNN leases. Significant capital improvements have been made within the last five years, including a new roof in 2022, new HVAC units installed between 2017 and 2021, new front supports in 2023, and parking lot improvements in 2021.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.58M
NOI $142,486 @ 9.00% cap · cautious / downside scenario
Moderate
$2.04M
NOI $142,486 @ 7.00% cap · market / base-case scenario
Aggressive
$2.85M
NOI $142,486 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $247.1k | $21.96 |
| − Vacancy | −$57.1k | −$5.07 |
| EGI | $190.0k | $16.89 |
| − OpEx | −$47.5k | −$4.22 |
| NOI | $142.5k | $12.67 |
11,250 SF · lease $21.96/SF/yr · vacancy 23.10% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$2.04M
$1.78M – $2.37M
NOI $142,486 @ 7.0% cap · market cap 7.92%
Second Best
Retail
$1.51M
$1.32M – $1.76M
NOI $105,479 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$2.60M
$2.27M – $3.03M
NOI $181,884 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Metro by T-Mobile
Mobile Phone Store
Pizza Booyah
Restaurant
What About Bob's ...
Take-out & Catering
Exodus Integrity Services, ...
Corporate Office
K & Em Custom ...
Hair Salon
Location Insight
- Map
- Local Demand
- City
- Willoughby
- County
- Lake
- State
- Ohio
- Longitude
- -81.4208
- Latitude
- 41.6293
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Meticulously maintained retail/office asset in the heart of Willoughby, Ohio.
Where is this retail space located?
The property is located at 37111 Euclid Avenue Willoughby, OH.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime location in the heart of Willoughby's business district, directly across from a newly constructed national grocery store.; Meticulously maintained 11,000+ sqft property with recent capital improvements: **new roof (2022), HVAC units (2017‑2021), front supports (2023), and parking lot (2021)**.; Nine units with a mix of established tenants and a newly signed lease; most leases in place through 2027.
