37877 Elm St Willoughby, OH 44094
- Industrial properties
- 0.24 lot acres
Current Use by Public Records
- Sticker Corporation / Steel Fabricator
- Reighart Steel Products / Steel Fabricator
- Entrepreneur's Source / Business Management Consultant
Property Details for 37877 Elm St
- Lot size
- 0.24 lot acres
- Zone code
- C-M
- Property type
- Industrial properties
- APN
- 27-B-036-0-00-044-0
- APU
- 27B0360000440
Description
This exceptional Willoughby, Ohio industrial property offers a rare opportunity to acquire a two-building warehouse complex totaling 53,438 square feet. Situated on a 1.88-acre lot, this property boasts a prime location with easy access to US Route 20 and State Route 2. The first building, constructed in 1947 and renovated in 1975, comprises 15,674 square feet, including 11,750 square feet of warehouse space and 3,924 square feet of office space. Features include a 12' x 10' drive-in door, 10' ceiling height under the joists, a ½-ton crane, and heavy power (800 amps, 480 volts, 3-phase) with two new Concord gas-fired furnaces. The second building, built in 1929 and extensively renovated in 2020, offers 37,764 square feet of warehouse space. This building is equipped with four overhead doors (24'x14', 11'10"x13'8", 19'6"x15', and 12'x13'), bus duct, and a comprehensive crane system including one 25-ton crane on a rail, one 15-ton crane, two 6-ton cranes (one needing service), two 5-ton cranes, three 2-ton cranes, four 1 ½-ton cranes, twelve 1-ton cranes, and two ½-ton cranes. Clear heights reach up to 34'5" under the hook of the 25-ton and 15-ton cranes. Additional features include a monorail, heavy power (800 amps, 480 volts, 3-phase), radiant heat, LED lighting, and a variable speed compressor serviced twice yearly. A 4,000 square foot quonset hut/shed (not included in square footage) is available for cold storage or removal for additional parking. The property is zoned L-I (Light Industrial) and features a corner location at Elm St and Church St, with convenient access to Vine Street and Erie Street. The APN numbers are 27B0360000560, 27B0360000550, 27B0360000580, 27B0360000590, 27B0360000570, 27B0360000600, and 27B0360000610.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $160,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $215,000
- 6.5%
- $235,000
- 7%
- $225,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $215,000
- Geo Method
- $185,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $205,000
- Retail
- $205,000
- Mixed-Use
- $240,000
- Hospitality
- $240,000
- Educational
- $180,000
- Residential Income
- $185,000
- Energy
- $235,000
- Income-Based Land
- $225,000
- Food Service
- $185,000
Location Insight
- Map
- Local Demand
- City
- Willoughby
- County
- Lake
- State
- Ohio
- Longitude
- -81.4084
- Latitude
- 41.6434
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
