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    Property profile & analytics

    28711 Euclid Ave Wickliffe, OH 44092

    • Drive through restaurants
    • 5,244 SF
    • 1.28 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Apr 10, 2024
    Value Estimations
    $370,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1119565
    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.

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 28711 Euclid Ave

    Year built
    1989
    Lot size
    1.28 lot acres
    Property size
    5,244 SF
    Zone code
    GB
    Property type
    Drive through restaurants
    APN
    29-A-008-0-00-039-0
    APU
    29A0080000390

    Description

    This exceptional 5,244-square-foot freestanding retail building, situated on a prominent 1.28-acre lot in Wickliffe, Ohio, presents a unique investment opportunity. Located on Euclid Avenue, the property boasts 33 feet of frontage and offers excellent visibility for any business. Built in 1989 and renovated in 1995, the structure is of masonry construction and features a fire-resistant design. The property includes a spacious 55-space surface parking lot, ensuring ample customer convenience. Inside, the building features a 14-foot ceiling height and is equipped with a hood system, drive-thru, walk-in cooler/freezer, dining room, and kitchen—ideal for a quick-service restaurant (QSR) or adaptable for other uses. The property is zoned GB (General Business) within Lake County and benefits from two ingress/egress points, enhancing accessibility. While currently vacant, the existing infrastructure provides a solid foundation for a new tenant. The property taxes are subject to adjustment based on current valuation. A grandfathered red post sign is present, or a monument sign is permissible. Note that hard corner sign usage is not available. This location offers significant potential for a variety of businesses seeking high visibility and convenient access in a thriving commercial area. The property's size, features, and location make it an attractive option for entrepreneurs and investors alike.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $325,000
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $515,000
      Market price range: $221k - $516k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wickliffe
    County
    Lake
    State
    Ohio
    Longitude
    -81.4834
    Latitude
    41.6002
    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
    $24,921
    $116,990
    $109,550
    $226,540
    -
    $334,250
    $312,990
    $647,240

    Comparable in this City

    • Value Estimation
      $165,000
      480 SF

      30136 Euclid Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 480 SF
      30136 Euclid Ave, Wickliffe, OH 44092-1655
      View Details
    • Value Estimation
      $225,000
      5,566 SF

      2841 Bishop Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,566 SF
      2841 Bishop Rd, Wickliffe, OH 44092-2603
      View Details
    • Value Estimation
      $205,000
      2,850 SF

      28101 Chardon Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,850 SF
      28101 Chardon Rd, Willoughby Hills, OH 44092-2709
      View Details
    • Value Estimation
      $2,720,000
      2,500 SF

      30160 Euclid Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,500 SF
      30160 Euclid Ave, Wickliffe, OH 44092-1655
      View Details
    • Value Estimation
      $285,000
      8,274 SF

      29804 Euclid Ave

      RESTAURANT • 8,274 SF
      29804 Euclid Ave, Wickliffe, OH 44092-1833
      View Details
    • Value Estimation
      $210,000
      2,886 SF

      29527 Euclid Ave

      RESTAURANT • 2,886 SF
      29527 Euclid Ave, Wickliffe, OH 44092-1971
      View Details

    Similar Nearby for Sale

    • $649,900
      0.80 Acres

      Iconic Restaurant Property in Wickliffe

      Established restaurant property with ample parking and seating.
      29303 Euclid Ave, Wickliffe, OH 44092
      View Details
    • $75,000
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      Iconic Restaurant Business Opportunity

      Long-established Petti's Pizza business for sale in Wickliffe, Ohio.
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    • $565,000
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      Wickliffe Commercial Space Under Construction

      4500+ sq ft commercial space with customizable features.
      29110 Euclid Ave, Wickliffe, OH 44092
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    • Contact for pricing
      4.33 Acres

      Wickliffe Commercial Land Opportunity

      4.33 Acres, High Traffic Area, Development Potential
      29707 Euclid Ave, Wickliffe, OH 44092
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    • $1,200,000
      3.22 Acres

      Lakeland Blvd Industrial Property

      3.22-acre industrial land, $1.2M.
      30150 Lakeland Blvd, Wickliffe, OH 44092
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    • $825,000
      0.80 Acres

      Wickliffe Restaurant & Real Estate

      Established Restaurant, .8-Acre Lot
      29303 Euclid Ave, Wickliffe, OH 44092
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      5,244 SF

      Wickliffe QSR - 5,244 SF

      Prime Euclid Ave. QSR, 1.28 acres, high visibility.
      28711 Euclid Ave, Wickliffe, OH 44092
      View Details
    • Contact for pricing
      101,839 SF

      Willoughby Hills Shopping Center

      Grocery-anchored center, prime location, high traffic.
      27401 Chardon Rd, Willoughby Hills, OH 44092
      View Details
    • $2,100 /Mo
      13,251 SF

      Versatile Commercial Space in Wickliffe

      Flexible commercial space ideal for offices, retail, or wellness practices.
      29436 Euclid Ave, Wickliffe, OH 44092
      View Details
    • $5 SF/Yr
      26,581 SF

      Lloyd-Euclid Plaza: Creative Office Space

      Prime Wickliffe Office/Retail, 11,650 SF Available
      29215 Euclid Ave, Wickliffe, OH 44092
      View Details
    • Contact for pricing
      24,992 SF

      Updated Building on Bishop Road

      Modern retail building with expansion possibilities on high-traffic road.
      2821 Bishop Rd, Wickliffe, OH 44092
      View Details
    • Contact for pricing
      1,944 SF

      Retail Space in High Traffic

      Neighborhood center with retail, office, and showroom zoning.
      29229-29231 Euclid Ave, Wickliffe, OH 44092
      View Details
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    Wickliffe, OH 44092
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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