26614 Lorain Rd North Olmsted, OH 44070

Property Details for 26614 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

Neighborhood 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.

Location Insight

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