Mixed-Use Building with Retail and
4126 ERIE ST Willoughby, OH 44094
4126 ERIE ST, Willoughby, OH, 44094
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For Sale
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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 Market91
Property Features for 4126 ERIE ST
General Information
- Standard status
- Active
- Size
- 14,766 SF
- Property subtype
- Multifamily, Office, Mixed Use
Building Details
- Year Built
- 1900
Listing agency
Gatto Group Inc
Listed by
Donny Gatto · License #2024006572
Source
Crexi
Added: Apr 23 Updated: Jul 21 at 8:07PM Checked: Jul 21 at 8:07PM
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
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
Local Financial Insights For Mixed Use
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 | $341.1k | $23.10 |
| − Vacancy | −$78.8k | −$5.34 |
| EGI | $262.3k | $17.76 |
| − OpEx | −$98.4k | −$6.66 |
| NOI | $163.9k | $11.10 |
14,766 SF · lease $23.10/SF/yr · vacancy 23.10% · expense 37.50%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
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
