Mixed-Use Building with Retail and
For Sale
Contact for pricing
4126 ERIE ST, Willoughby, OH 44094
Fully leased mixed-use building with 2 ground-floor retail spaces and 9 residential units above, plus rear parking.
Property Size14,766 SF
Price / SF$121.83
Days on Market181
Property Features for 4126 ERIE ST
General Information
Standard status
Active
Size
14,766 SF
Property subtype
Multifamily, Office, Mixed Use
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$126,361
Additional Details
Multifamily Units
9
Building Details
Year Built
1900
Stories
1
Units
11
Tenancy
Multi
Listing Agency:
Gatto Group Inc
Listed By:
Donny Gatto · License #2024006572
Source:
Crexi
Added: Apr 23
Changed: Oct 1
Last Checked: Oct 20 at 6:11PM
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 Gatto Group Inc
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Investment Insights
Based on property information with market context.
This fully leased mixed-use asset totals 11 units, including two ground-floor commercial spaces and nine residential units across the upper two floors. The building is maintained at 100% occupancy, with long-term tenants in the retail component, including an established law firm and a retail user.
Located in Downtown Willoughby along the primary retail corridor, the property is positioned among walkable dining, shopping, and other local amenities. The offering also includes rear parking, an added convenience for both tenants and visitors.
From a practical configuration standpoint, the building provides separate commercial storefront space at street level with residential living above, creating a diversified income mix within one address.
Located in Downtown Willoughby along the primary retail corridor, the property is positioned among walkable dining, shopping, and other local amenities. The offering also includes rear parking, an added convenience for both tenants and visitors.
From a practical configuration standpoint, the building provides separate commercial storefront space at street level with residential living above, creating a diversified income mix within one address.
Key Highlights
- Fully leased mixed‑use building with 11 total units: 2 ground‑floor retail spaces and 9 residential units on the upper two floors
- 100% occupancy with stable, in‑place income from fully leased retail and residential tenants
- Retail anchored by long‑term tenants, including an established law firm and a retail user
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,939
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,278,780
$3.3M
Cap Rate 7%
$2,341,986
$2.3M
Cap Rate 9%
$1,821,544
$1.8M
Market Conditions
NOI Build-Up for 14,766 SF
Gross rent
$341.1K $23.10/SF
− Vacancy
−$78.8K −$5.34/SF
EGI
$262.3K $17.76/SF
− OpEx
−$98.4K −$6.66/SF
NOI
$163.9K $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%
$3,278,780
Cap Rate 7%
$2,341,986
Cap Rate 9%
$1,821,544
Alternative Uses
Best Use
Mixed Use
$2.34M
$2.05M – $2.73M
NOI $163,939 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,248 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$3.41M
$2.98M – $3.98M
NOI $238,729 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Explore this area
Business Placement
Demographics for 44094, OH
37,634
Population
18,323
Households
2.1
Avg Household Size
46
Median Age
39%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
948
Density / Sq Mi
$76,125
Median Household Income
$49,393
Median Earnings
$1,155
Median Rent
$247,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased mixed-use building with 2 ground-floor retail spaces and 9 residential units above, plus rear parking.
Where is this mixed-use property located?
The property is located at 4126 ERIE ST Willoughby, OH.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Fully leased mixed‑use building with 11 total units: 2 ground‑floor retail spaces and 9 residential units on the upper two floors; 100% occupancy with stable, in‑place income from fully leased retail and residential tenants; Retail anchored by long‑term tenants, including an established law firm and a retail user
