Multi-Unit Retail Office
37111 Euclid Avenue Willoughby, OH 44094
For Sale
$1,700,000
SINGLE_FAMILY - Willoughby, OH
Property Size11,000 SF
Lot Size0.81 Acres
Price / SF$154.55
Days on Market605
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 Agency:
Keller Williams Greater Cleveland Northeast
(440) 255-5500
Listed By:
Geoffrey DelGrosso · License #2020002251
(440) 462-9577
Added: Nov 29, 2024
Changed: Jun 9
Last Checked: Jul 27 at 5:06AM
MLS# 5087351
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.
Investment Insights
Based on property information with market context.
This for-sale retail/office property is a nine-unit multi-tenant asset with currently occupied space by six well-established tenants, plus a newly signed lease from a current tenant. The building has undergone recent capital improvements, including a new roof in 2022, new HVAC units installed from 2017 through 2021, new front supports in 2023, and a parking lot replacement in 2021.
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.
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.
Key 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.
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 | $154.4k | $14.04 |
| − Vacancy | −$7.1k | −$0.65 |
| EGI | $147.3k | $13.39 |
| − OpEx | −$44.2k | −$4.02 |
| NOI | $103.1k | $9.38 |
11,000 SF · lease $14.04/SF/yr · vacancy 4.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.47M
$1.29M – $1.72M
NOI $103,135 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,842 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
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
FAQs
What type of property is this?
Retail space - Nine-unit retail and office asset with multiple tenants and several leases extending through 2027.
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 $1,700,000.
What are key features of this property?
This property features: 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.
