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Property profile

16207 Detroit Ave Lakewood, OH 44107

OFF-MARKET
Retail space
Property ID
US66-0197155
11,331 SF 0.89 ac lot Built 1996
Entity Owned Absentee Owner ~ Est. High Equity

Property summary

AI-generated overview

This exceptional 11,325-square-foot freestanding retail building presents a unique investment opportunity in the thriving Lakewood market. Situated on a 0.89-acre lot, this single-tenant property boasts a prominent facade with excellent visibility from Detroit Avenue, ensuring high traffic and brand recognition. The building's strategic location offers unparalleled access, enhanced by signalized access to a major thoroughfare. The surrounding area demonstrates strong demographics, with over 110,000 people residing within a 3-mile radius, boasting an average household income exceeding $80,000. This translates to a robust customer base with significant spending power. The property benefits from abundant on-site parking, a key advantage for customers and employees alike. Its position within the dynamic Lakewood trade area places it in close proximity to a variety of national retailers and restaurants, including well-known brands such as Chipotle Mexican Grill, Starbucks, Panera Bread, Raising Cane's, Pet Supplies Plus, Crumbl Cookies, and McDonald's. This established retail cluster further enhances the property's appeal and potential for success. The building is currently available and offers significant potential for a variety of retail uses. The space is divisible, offering flexibility to suit diverse business needs. This is a rare opportunity to acquire a dominant retail site in a high-demand location with exceptional visibility and strong demographics.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1996
Construction TYPE NOT SPECIFIED
Total area 11,331 SF
Lot 0.89 ac (38,681 SF)
Zoning code C3
APN 313-22-005
UPID US66-0197155

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.68M
Comparable Approach Comparable
$1.25M
Blend (final) Blend
$1.29M

Owner & transaction history

since 2026
5 recorded transactions
2026
$1.8M
2019
$1.4M
2014
$2.4M
2006
$2.7M
1969
Price N/A

Zoning & alternative use

C3 · Lakewood, OH
Zoning description

TheC3 General Business Districtis established to provide for commercial uses that generally require independent, freestanding buildings, larger parking areas, and may have unique traffic patterns because of such factors…

General category COMMERCIAL
Top alternative use upside
Restaurant $1.9M +163.2%
Office building $1.8M +152.4%
Medical building $1.2M +69.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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