26614-26628 Lorain Rd North Olmsted, OH 44070
Property Lookup
Property profile & analytics
26614-26628 Lorain Rd North Olmsted, OH 44070
- Strip malls
- 12,192 SF
- 1.29 lot acres
Property ID
US66-2257306
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Strip malls
Property Details for 26614-26628 Lorain Rd
- Year built
- 1968
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.29 lot acres
- Property size
- 12,192 SF
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 232-26-010
- APU
- 23226010
Description
This exceptional 12,323 square foot retail shopping center in North Olmsted, Ohio, presents a compelling investment opportunity. The property, built in 1968 and renovated in 2023, sits on a 1.293-acre lot and features a single, one-story building with five tenants: AT&T, Malley's Chocolates, Buckeye Clips, and First Federal Savings & Loan Association of Lakewood, and CLE Care. The property boasts a strong pro-forma NOI of $301,705, reflecting the stability and profitability of this fully leased, triple-net (NNN) investment. The NNN lease structure minimizes operational costs for the owner, with tenants responsible for property taxes, insurance, and maintenance. The diverse tenant mix across various sectors mitigates risk and ensures consistent revenue streams. The staggered lease expirations further reduce vacancy risk and provide a predictable cash flow. Located at 26614 Lorain Rd, North Olmsted, OH 44070, this property benefits from high visibility and convenient access, ensuring long-term value appreciation. The permitted zoning is retail, making it ideally suited for its current use and potential future expansion. This turnkey investment offers immediate and reliable income, making it an attractive addition to any portfolio. The property's prime location and strong tenant base guarantee a secure and profitable investment.
Value Estimations
based on Realmo’s proprietary methodology
-
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $1,290,000 Current use
- RESTAURANT
- $2,175,000 Change: +68% Conversion: Difficult
- OFFICE BUILDING
- $1,990,000 Change: +54% Conversion: Moderate
- MEDICAL BUILDING
- $1,335,000 Change: +3% Conversion: Difficult
- RETAIL STORES
- $1,190,000 Change: -8% Conversion: Easy
- COMMERCIAL (GENERAL)
- $1,140,000 Change: -12% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,110,000 Change: -14% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- North Olmsted
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.9169
- Latitude
- 41.419
- 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
$130,849
$157,710
$997,290
$1,155,000
-
$450,600
$2,849,400
$3,300,000
