38410 Lake Shore Blvd Willoughby, OH 44094

Property Details for 38410 Lake Shore Blvd

Lot size

1.20 lot acres

Property size

14,401 SF

Property type

Commercial real estate

Description

This exceptional opportunity presents a 14,401 square foot, mixed-use property situated on a 1.2-acre lot in Willoughby, Ohio, at 38410 Lake Shore Blvd, zip code 44094. The property, located in Lake County, includes an existing historic mixed-use building currently operational and generating income. This anchor building provides a strong foundation for a larger mixed-use development project. The site is already zoned for mixed-use development, streamlining the approval process. Further enhancing the opportunity, additional parcels owned by the City of Willoughby may be included in the sale. This prime location benefits from its proximity to lakeshore parks, restaurants, and an executive airport, contributing to a vibrant and growing community. A ground lease option is available for a negotiated term, offering flexibility for potential investors. The existing building, along with its tenants, and the assembled parcels are available for sale. Furthermore, the City of Willoughby offers abatement programs for new construction, potentially reducing development costs. This presents a unique chance to capitalize on the burgeoning mixed-use market in a desirable location with significant upside potential. The property's existing income stream and the potential for expansion make this an attractive investment opportunity.