Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Development Opportunity Title is generated by Realmo AI

    1066 Lost Nation Rd, Willoughby, OH 44094

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Corner lot suitable for mixed-use development with commercial and residential.

    Type:Mixed Use, Office, Retail
    Property size:
    52,272 SF
    Added:
    Jun 15, 2023
    Days on Market:
    1084
    Last Refresh:
    May 12 at 11:14 pm

    Property Features for 1066 Lost Nation Rd

    General Information

    Standard status
    Active
    Size
    52,272 SF
    Property subtype
    Mixed Use, Office, Retail

    We can help!

    Listing Contact
    Robin Brower

    Listing agent Robin Brower License #OH2015004732

    Listing office Coldwell Banker Commercial Schmidt Realty Geneva

    Listing date Jun 15, 2023

    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 Coldwell Banker Commercial Schmidt Realty Geneva

    HighLights

    • Opportunity for mixed‑use development (residential and commercial).
    • Assembled properties at the corner of Lost Nation and Lake Shore Blvd.
    • Preliminary mixed‑use plan discussed with the City.
    • Potential for street‑level commercial space.
    • Opportunity for residential rentals on upper floors.
    • Purchase or Ground Lease options available.

    Overview

    This property presents an opportunity for mixed-use development, blending residential and commercial real estate. According to preliminary discussions with the City, a plan has been considered for street-level commercial spaces with residential rental units on the upper floors. The assembled properties are located at the corner of Lost Nation Road and Lake Shore Boulevard. The entire complex, encompassing 52272 square feet, is available for purchase, or a ground lease may be executed for the area beyond the historical building and parking. The location may be suitable for a proficient management service company or developer to address the diverse needs of the entire community, potentially leading to higher quality tenants, shorter vacancy cycles, better processes, and improved support.
    Property Profile Location Intelligence

    Current Use by Public Records

    P&Bee Thai & Pizza Restaurant Marino's Hair Design Hair Salon Party's Pizza Restaurant Thai 999 Express ... Restaurant Lake Insurance Agency ... Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Dental Office Hair Salon Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm Big Box & Wholesale Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Willoughby
    County
    Lake
    State
    Ohio
    Longitude
    -81.3994887
    Latitude
    41.6955575

    Nearby Similar for Sale

    • $2,800,000
      8,700 SF

      Restaurant Investment in Downtown Willoughby

      8,700 SF modern building in a prime location.
      3941 Erie Street, Willoughby, OH 44094
      View Details
    • $1,700,000
      11,000 SF

      Willoughby Retail/Office Investment Opportunity

      Meticulously maintained retail/office asset in Willoughby's business district.
      37111 Euclid Avenue, Willoughby, OH 44094
      View Details
    • $1,050,000
      14,533 SF

      Two-Building Industrial Property For Sale

      Two buildings on 1.38 acres with warehouse and office space.
      4421-4429 Hamann Pkwy, Willoughby, OH
      View Details
    • $825,000
      2,134 SF

      Retail with Drive-Thru For Sale

      2,134 SF retail space with drive-thru on 1 AC.
      36751 Euclid Avenue, Willoughby, OH, 44094
      View Details
    • $3,995,000
      56,181 SF

      Willoughby Industrial Facility with Heavy Power

      56,181 SF industrial building on 7.5 acres for sale.
      4803 E 345th St, Willoughby, OH
      View Details
    • $1,000,000
      17,526 SF

      Office, Garage, and Storage Buildings

      Three buildings on 2.74 acres with secure, fenced yard.
      37401 Stevens Blvd, Willoughby, OH
      View Details
    • Contact for pricing
      3,565 SF

      Former Bank Branch For Lease

      3,565 SF former bank branch available for lease or sale.
      9231 Chillicothe Rd, Willoughby, OH
      View Details
    • $320,000
      3,785 SF

      Retail/Office Space in Willoughby, OH

      3,785 SF retail/office building with two units for sale.
      38765-38769 Lake Shore Blvd, Willoughby, OH
      View Details
    • $975,000
      1,400 SF

      Willoughby Office Building For Rent

      6,500 SF office building in the heart of Willoughby.
      35403 Euclid Ave, Willoughby, OH
      View Details
    • $2,000,000
      11,000 SF

      Willoughby Retail/Office Investment Opportunity

      Meticulously maintained retail/office asset in Willoughby's business district.
      37111 Euclid Avenue, Willoughby, OH 44094
      View Details
    • $400,000
      3,700 SF

      Willoughby Retail/Industrial Building For Sale

      3,700 SF retail/industrial building near Downtown Willoughby.
      37930 2nd St street, Willoughby, OH 44094
      View Details
    • Contact for pricing
      46,531 SF

      Medical Office Building Near Hospital

      Medical office building with stable tenancy near University Hospitals.
      36100 Euclid Ave, Willoughby, OH
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Corner lot suitable for mixed-use development with commercial and residential.
    Where is this mixed-use property located?
    The property is located at 1066 Lost Nation Rd Willoughby, OH.
    What are key features of this property?
    This property features: Opportunity for mixed‑use development (residential and commercial).; Assembled properties at the corner of Lost Nation and Lake Shore Blvd.; Preliminary mixed‑use plan discussed with the City.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robin Brower
    Real Estate License ID: OH2015004732
    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
    1066 Lost Nation Rd, Willoughby, OH 44094
    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!