Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Land on Euclid Avenue Title is generated by Realmo AI

    27961 Euclid Ave, Euclid, OH 44132

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    6.01 acres of commercial land with frontage on Euclid Ave.

    Type:Land
    Lot size:
    6.01 Acres
    Added:
    Jun 15, 2024
    Days on Market:
    716
    Last Refresh:
    May 13 at 8:25 pm

    Property Features for 27961 Euclid Ave

    General Information

    Standard status
    Active
    Lot size
    6.01 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    David Sigg, CCIM, Broker
    David Sigg, CCIM, Broker

    Listing agent David Sigg, CCIM, Broker License #OH BRK.2014005061

    Listing office Global Real Estate Advisors Inc

    Listing date Jun 15, 2024

    Source Crexi

    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 Global Real Estate Advisors Inc

    HighLights

    • 6.01± Total Acres of Development Land
    • 536± FT Frontage on Euclid Ave (US Route 20)
    • Incredible Freeway Visibility and Access at Interstate 90 & US Route 20
    • Located in Opportunity Zone
    • Commercial Zoning
    • All Utilities at the Site

    Overview

    This property features 6.01 acres of development land, identified by PP# 648-03-003 & 648-03-005. It offers approximately 536 feet of frontage on Euclid Avenue (US Route 20). All utilities are available at the site. The property is zoned for commercial use and benefits from a business-friendly environment with available city and county incentives. Located in an Opportunity Zone, the site provides visibility and access to Interstate 90 and US Route 20, and is situated minutes from Interstate 271 and State Route 2.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Euclid
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5
    Latitude
    41.6046

    Nearby Similar for Sale

    • $199,999
      1,700 SF

      Retail Building on High-Traffic Street

      Turnkey retail building with established tenant in a prime location.
      524 E 200th Street, Euclid, OH 44119
      View Details
    • $279,000

      Retail/Service Building with Income

      Two-story commercial building on E. 185th Street retail corridor.
      669 E 185th Street E, Euclid, OH 44119
      View Details
    • $260,000
      2,840 SF

      Euclid Duplex: Income Potential

      Turnkey duplex in Euclid with strong income potential.
      1434 E 222nd Street, Euclid, OH 44117
      View Details
    • $259,900
      2,940 SF

      Meticulously Maintained Duplex Near Euclid High

      All brick duplex in prime location with long-term local ownership.
      663 Babbitt Road, Euclid, OH 44123
      View Details
    • $190,000
      2,072 SF

      Euclid Duplex: Turnkey Investment

      Turnkey duplex in Euclid, ready for investors or owner-occupants.
      927 E 216th Street, Euclid, OH 44119
      View Details
    • $399,999

      Turnkey Bar & Grill Opportunity

      Bar & Grill with real estate, business, and equipment included.
      21702 Saint Clair Avenue, Euclid, OH 44117
      View Details
    • $239,900
      2,432 SF

      Euclid Duplex with In-Unit Laundry

      All-brick duplex with in-unit laundry, ideal for investors/owner-occupants.
      20424 Lake Shore Boulevard, Euclid, OH 44123
      View Details
    • $229,900
      2,143 SF

      Updated Duplex in Euclid, OH

      Updated 5-bedroom duplex, ideal for owner-occupants or investors.
      924 E 214th Street, Euclid, OH 44119
      View Details
    • $199,900
      1,656 SF

      Solid Brick Duplex with Garage

      Euclid duplex with income potential, garage, and recent updates.
      275 E 200th Street, Euclid, OH 44119
      View Details
    • $135,000
      2,071 SF

      Euclid Duplex: Income Opportunity

      Income-producing duplex in Euclid with separate entrances and utilities.
      19326 Tyronne Avenue, Euclid, OH 44119
      View Details
    • $139,900
      1,944 SF

      Colonial Duplex with Income Potential

      Euclid duplex with rental income potential and detached garage.
      20101 Tracy Avenue, Euclid, OH 44123
      View Details
    • $275,000
      3,850 SF

      Brick Duplex with Garages

      Three-bedroom duplex with separate driveways and two-car garages.
      20207 Lake Shore Boulevard, Euclid, OH 44123
      View Details

    FAQs

    What type of property is this?
    Commercial land - 6.01 acres of commercial land with frontage on Euclid Ave.
    Where is this commercial land located?
    The property is located at 27961 Euclid Ave Euclid, OH.
    What is the asking price?
    The asking price for this property is $1,803,000.
    What are key features of this property?
    This property features: 6.01± Total Acres of Development Land; 536± FT Frontage on Euclid Ave (US Route 20); Incredible Freeway Visibility and Access at Interstate 90 & US Route 20
    (440) 255-5552 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Sigg, CCIM, Broker
    David Sigg, CCIM, Broker
    Real Estate License ID: OH BRK.2014005061
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    27961 Euclid Ave, Euclid, OH 44132
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!