6655 Ridge RdMadison, OH 44057

  • Retail properties
  • 11,114 SF
For Sale

Property Details for 6655 Ridge Rd

Year built
1997
Lot size
1.28 AC
Property size (Sq ft)
11,114 SF
Zone code
B2
Property type
Retail properties
Property subtype
Outlet malls
APN
01-B-108-A-00-005-0
APU
01B108A000050

Description

This exceptional single-tenant commercial property, located at 6655 N. Ridge Rd in Madison, Ohio, presents a significant opportunity for retail or restaurant businesses. The property boasts a substantial 11,180 square feet of vacant space, ready for immediate occupancy. Situated on a generous 1.34-acre lot, the building offers ample space for both interior operations and exterior amenities. The property's address is 6655 N Ridge Rd, Madison, OH 44057, with GPS coordinates of 41.8027398 latitude and -81.0497191 longitude. The property's APN is 01-B-108-A-00-005. This prime location offers excellent visibility and accessibility, making it an ideal site for a variety of commercial ventures. The entire building is currently vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. The substantial square footage allows for a large-scale operation or the potential for subdividing the space for multiple uses. The expansive lot size offers ample parking and potential for outdoor seating or other supplementary features. This property represents a rare opportunity to acquire a significant commercial space in a desirable location. Serious inquiries are encouraged.

Valuation
by Realmo methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,939,129
    6.5%
    $2,713,042
    7%
    $2,519,254
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,619,801
    Geo Method
    $2,619,801
  • Alternative Use

    Use
    Valuation
    Residential
    $2,288,553
    Hospitality
    $2,096,302
    Educational
    $1,744,099
    Medical
    $1,804,081
    Retail
    $2,713,042
6655 Ridge Rd, Madison, Ohio
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Location Insight

City
Madison
County
Lake
State
Ohio
Latitude
41.8026
Longitude
-81.0497
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$39,875
$312,240
$46,510
$358,750
-
$892,110
$132,890
$1,025,000

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