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Property profile & analytics
OFF-MARKET
Medical Office Space
38459 Lk Shr Blvd, Willoughby, OH 44094-7160
Entity Owned
~
Est. High Equity
Property ID
US66-2711120
Property summary
AI-generated overview
This exceptional 3,128 square foot restaurant space in Willoughby, Ohio, is available for $350,000. Located on a 0.79-acre lot at 38459 Lakeshore Blvd (44094), this single-story building is zoned for commercial use and features ample parking. The property, APN 27-B-056-B-00-057, 27-B-056-B-00-020, 27-B-056-B-00-019, is ideally situated at a high-traffic intersection among other retail and dining establishments. The interior is ready for a restaurant build-out, with electrical and plumbing connections planned for a large kitchen, bar, and dining area. A larger rear entry door is planned to accommodate an outdoor patio. This turnkey opportunity presents a fantastic chance to establish or expand a thriving restaurant business in a vibrant commercial area. The property is a single unit with a net rentable area of 3,128 square feet.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1960
Total area
3,128 SF
Lot
0.56 ac (24,228 SF)
Zoning code
L-B
APN
27-B-056-B-00-057-0
UPID
US66-2711120
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Chagrin River Pub Nightclub Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
38459 Lakeshore Investments LLC
38459 Lakeshore Investments LLC
since 2025
4 recorded transactions
Zoning & alternative use
L-B · Willoughby, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Willoughby submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Willoughby submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,204
Tax year 2023
Assessed value
$100,050
Assessed 2023
Previous assessed
$100,050
+0.0% YoY
Effective rate
8.20%
On assessed value
Assessed land
$50,880
Assessed improvement
$49,170
Land market value
$145,370
Improvement market value
$140,480
Total market value
$285,850
Applied tax rate
27.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1960
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,128 SF
Lot
0.56 ac (24,228 SF)
Zoning code
L-B
APN
27-B-056-B-00-057-0
UPID
US66-2711120
Jurisdiction
LAKE
Zoning & alternative use
L-B · Willoughby, OH
Zoning L-B · permitted uses
L-B · Willoughby, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Willoughby. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1960
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
38459 Lakeshore Investments LLC
Entity
Mailing address
PO BOX 227, WILLOUGHBY, OH 44096-0227
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2025
—
38459 Lakeshore Investments LLC
38459 Lake Shore LLC
Deed
$265,000 · 38459 Lake Shore LLC
Mar 11, 2025
$250,000
38459 Lake Shore LLC
38459 Lakeshore Pub LLC
Warranty Deed
—
Jan 27, 2023
$325,000
3849 Klakeshore Pub LLC
Slm Investment Properties LLC
Warranty Deed
$260,000 · Eriebank
—
—
Erieside Properties LLC
—
Deed Of Trust
related
$700,000 · Key Bank & Trust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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