37111 Euclid Avenue, Willoughby, OH 44094
SINGLE_FAMILY - Willoughby, OH
- Added:
- Nov 29, 2024
- Days on Market:
- 559
- Last Refresh:
- Jun 11 at 11:06 pm
Property Features for 37111 Euclid Avenue
General Information
- Property type
- Residential
- Property subtype
- Retail
- Parking
- 35
- Standard status
- Active
- APN
- 27-A-014-B-00-024-0
- Size
- 11,000 SF
- Lot size
- 0.81 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- LOT 1 TRACT 14 PART OF BLOCK K
- Tax Annual Amount
- 25215
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1998
Listing agent Geoffrey DelGrosso License #2020002251 (440) 462-9577
Listing office Keller Williams Greater Cleveland Northeast 7400 Center Street, Mentor, OH (440) 255-5500
Listing date Nov 29, 2024
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Located in the heart of Willoughby's business district, directly across from a newly constructed national grocery store.
- Property has nine units with six well‑established tenants and a newly signed lease.
- Most leases are in place through 2027, providing stable income.
- Significant capital expenditures (roof, HVAC, front supports, parking lot) completed in the last five years.
- Opportunity to increase rents as current rates are below market value.
- Potential to transition leases into NNN leases for increased profitability.
Overview
Located in the heart of the Willoughby business district at 37111 Euclid Avenue, the property is situated directly across the street from a newly constructed national grocery. Most leases are in place through 2027, providing an existing income stream supported by in-place occupancy.
For buyers and portfolio operators seeking a retail/office multi-unit hold, this configuration offers a tenant mix across nine separate units while leveraging the building’s documented maintenance and upgrades from recent years. The property’s overall setup is well suited for investment-minded ownership that values occupied space and lease continuity through the near term.
Local Financial Insights For Office B
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 | $241.6k | $21.96 |
| − Vacancy | −$55.8k | −$5.07 |
| EGI | $185.8k | $16.89 |
| − OpEx | −$46.4k | −$4.22 |
| NOI | $139.3k | $12.67 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Willoughby
- County
- Lake
- State
- Ohio
- Longitude
- -81.420951
- Latitude
- 41.629339
