38230 Glenn Ave Willoughby, OH 44094-7808
This exceptional commercial property, located at 38230 Glenn Ave in Willoughby, Ohio, presents a unique investment opportunity. The single-story building, constructed in 1953 and meticulously maintained, offers a total of 2,800 square feet on a 0.165-acre lot. The space is ideally suited for a variety of uses, encompassing approximately 2,000 square feet of retail or office space and an additional 800 square feet of warehouse area. The existing floor plan includes a lobby, reception area, six offices, a conference room, two restrooms, and a back hallway. All interior structures are non-load-bearing, allowing for flexible and adaptable floor plan revisions to suit your specific business needs. The property boasts four on-site parking spaces, complemented by convenient street parking in the area. Situated in the heart of downtown Willoughby, this location benefits from high foot traffic and excellent visibility. Zoned as Downtown Business District - Sub-District E, with potential for new development, the property offers a diverse range of permitted uses, including retail, restaurants, professional offices, financial services, pet shops, and personal services, among many other conditional uses. Easy access to major roadways, including Vine Street (SR 640), Mentor Avenue (SR 20), and SR 2, further enhances its appeal. The asking price for this well-maintained and versatile property is $360,000. The APN is 27A030A000090.
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It is intended to provide for commercial services and activities in locations that are adequately served by major streets and other facilities and to encourage the grouping of businesses in shopping centers.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
G-B · Willoughby, OHIt is intended to provide for commercial services and activities in locations that are adequately served by major streets and other facilities and to encourage the grouping of businesses in shopping centers.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.