2639 Warrensville Ctr Rd University Heights, OH 44118
- Gas stations
- 288 SF
- 0.57 lot acres
Current Use by Public Records
- Gas stations
Property Details for 2639 Warrensville Ctr Rd
- Year built
- 1987
- Lot size
- 0.57 lot acres
- Property size
- 288 SF
- Zone code
- U-7
- Property type
- Gas stations
- APN
- 721-06-009
- APU
- 72106009
Description
This exceptional new mixed-use development, JCU Gateway, presents a unique investment opportunity in University Heights, Ohio. Located at 2639 Warrensville Center Rd, 44118, this development is strategically positioned at the gateway to John Carroll University, boasting a student population of 3,673. Groundbreaking is slated for early 2025, with a projected opening in the fall of 2026. The development features 27,630 square feet of planned retail space, ideal for a variety of uses, including restaurants and small shops. A major specialty grocery store (to be announced) will serve as an anchor tenant, driving significant foot traffic. The property offers 186 parking spaces exclusively for retail tenants and customers, ensuring ample convenience. Its prime location on Fairmount Circle provides easy access to the densely populated communities of University Heights, Shaker Heights, and Cleveland Heights. The surrounding area is highly affluent, with over 15,000 residents within a one-mile radius boasting average incomes exceeding $150,000. This development offers unparalleled access to a large, captive audience of students, faculty, and high-income residents, making it an exceptional opportunity for long-term growth and profitability. The property is classified as retail and restaurant space, with a subtype of retail and small shop, and is a new development with multiple tenancy options. The Cuyahoga County location provides access to a robust local economy and infrastructure.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $6,070,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $6,430,000
- 6.5%
- $6,425,000
- 7%
- $6,235,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $5,860,000
- Geo Method
- $5,550,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $5,865,000
- Retail
- $5,570,000
- Mixed-Use
- $6,200,000
- Hospitality
- $6,195,000
- Educational
- $7,010,000
- Residential Income
- $7,125,000
- Energy
- $6,590,000
- Income-Based Land
- $7,500,000
- Food Service
- $7,025,000
Location Insight
- Map
- Local Demand
- City
- University Heights
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.5358
- Latitude
- 41.4874
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
