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Property profile & analytics
OFF-MARKET Estimated value $2,285,000
Strip malls

24485 Lorain Rd North Olmsted, OH 44070-2168

24,499 SF 4.6 ac lot Built 1957
Individually Owned 24-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US66-0122275
Property summary
AI-generated overview

This exceptional property located at 24485 Lorain Road in North Olmsted, Ohio, presents a unique opportunity for businesses seeking versatile warehouse and retail space. Situated in Cuyahoga County, this multi-tenant building offers a total of 4,500 square feet, with 3,000 square feet currently available for lease. The property is classified as both retail and industrial, making it ideal for a variety of uses. Two individual spaces are immediately available, ranging in size from 1,260 to 1,500 square feet, providing flexibility for businesses of different scales. The building's location in North Olmsted, Ohio, offers convenient access to major transportation routes, ensuring efficient logistics and distribution. The property's zoning allows for a blend of retail and industrial operations, catering to businesses requiring both storefront presence and warehouse functionality. This presents a rare chance to secure prime commercial space in a thriving Ohio community. The available space is ready for immediate occupancy, allowing businesses to quickly establish their operations. Interested parties are encouraged to inquire promptly to secure this desirable property. The zip code for this location is 44070.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1957
Total area 24,499 SF
Lot 4.6 ac (200,189 SF)
APN 237-01-018
UPID US66-0122275
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Western Union Bank Credit Union
  • Discount Drug Mart Pharmacy
  • Discount Drug Mart, llc Pharmacy
  • Discount Drug Mart Deli Food Market Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.29M
Owner & transaction history
Todd W Romp · 24 yrs held
Todd W Romp
since 2002
3 recorded transactions
2005
Price N/A
2002
$430,000
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $2.7M +3.5%
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