37111 Euclid Ave Willoughby, OH 44094

Property Details for 37111 Euclid Ave

Year built

1998

Lot size

0.81 lot acres

Property size

11,250 SF

Zone code

L-1

Property type

Retail space

APN

27-A-014-B-00-024-0

APU

27A014B000240

Description

This exceptional 11,250 square foot retail/office property presents a rare investment opportunity in Willoughby, Ohio's thriving business district. Located directly across from a newly constructed national grocery store, this meticulously maintained asset offers high visibility and convenient access. The building comprises nine units currently occupied by six established tenants, with a recently signed lease extension from an existing tenant, ensuring consistent cash flow. The majority of leases extend through 2027, providing long-term stability. Significant value-add potential exists due to current rents being below market value, allowing for future rent increases and a transition to triple-net (NNN) leases. Substantial capital improvements have been completed within the last five years, minimizing future maintenance expenses. These include a new roof (2022), new HVAC units (2017-2021), new front supports (2023), and a renovated parking lot (2021). The property sits on a 0.81-acre lot and offers ample parking. This turnkey investment is poised for immediate returns and long-term growth, representing a unique chance to acquire a prime retail asset in a highly desirable location. Don't miss this exceptional opportunity to expand your portfolio with a well-maintained, income-producing property in a rapidly growing market. The property is priced at $2,200,000.

Location Insight

City

Willoughby

County

Lake

State

Ohio

Longitude

-81.4209

Latitude

41.6293

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments