Property profile

27961 Euclid Ave Euclid, OH 44132

OFF-MARKET
Commercial land
Property ID
US66-0513530
5,809 SF 0.96 ac lot Built 1963
Entity Owned 27-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 6.01-acre commercial land parcel presents a unique development opportunity in Euclid, Ohio. Boasting 536± feet of frontage on Euclid Avenue (US Route 20), this property offers unparalleled visibility and accessibility. The site benefits from all utilities already in place, simplifying development plans. Zoned U4 Commercial, this land is ready for immediate development, further enhanced by the presence of available county and city incentives, and its location within an Opportunity Zone. The property's strategic location provides incredible freeway visibility and access at the intersection of Interstate 90 and US Route 20, with convenient proximity to Interstate 271 and State Route 2. Parcel numbers 648-03-003 and 648-03-005 comprise this significant offering. The asking price is $1,803,000, representing a compelling value for developers seeking a prime location with substantial development potential. The business-friendly environment of Euclid and the readily available incentives make this a truly exceptional investment opportunity. This is a rare chance to acquire a large, well-located parcel in a thriving area with excellent infrastructure and access to major transportation arteries.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Year built 1963
Total area 5,809 SF
Lot 0.96 ac (42,000 SF)
Zoning code U4
APN 648-30-003
UPID US66-0513530

Cap rate & NOI

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

Location

27961 Euclid Ave Euclid, OH 44132-3519
Euclid metro Census 196200 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$755k
Comparable Approach Comparable
$961k
Blend (final) Blend
$905k

Owner & transaction history

since 1999
3 recorded transactions
2016
Price N/A
1999
$1.6M
1969
Price N/A

Zoning & alternative use

U4 · Euclid, OH
Zoning description

R 1355 U3 Apartment House Districts(Repealed) CHAPTER 1356 U3E Elevator Apartment House Districts (Repealed) CHAPTER 1357 U3EL Senior Citizens Use Districts CHAPTER 1358 ASF Attached Single-Family Districts CHAPTER 1359…

General category COMMERCIAL
Top alternative use upside
Restaurant $980,000 +103.6%
Office building $940,000 +95.2%
Medical building $630,000 +31.1%

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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