937 222nd St Euclid, OH 44123-3319
- Turn key restaurants
- 3,302 SF
- 0.56 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 937 222nd St
- Year built
- 1947
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.56 lot acres
- Property size
- 3,302 SF
- Zone code
- U4
- Property type
- Turn key restaurants
- APN
- 643-12-050
- APU
- 64312050
Description
This exceptional mixed-use property at 937 E 222nd Street, Euclid, OH, presents a rare opportunity to acquire a well-established and profitable business. Spanning two decades, Euclid Paninis boasts a strong track record of success, consistently maintaining profitability, even throughout the challenges of the COVID-19 pandemic. This achievement is attributed to a robust carry-out service that was effectively implemented and continues to contribute significantly to revenue. The business occupies a 3,302 square foot space situated on a 0.56-acre lot. The current asking price for the business and property is $299,000. The current business model operates as an area franchise, offering the potential for continuation under the existing franchise agreement or the flexibility to operate independently. The current monthly rent for the business is $8,500. Current hours of operation are Monday through Friday, 11 AM to 9 PM, and Saturday and Sunday, 12 PM to 8 PM. A significant advantage for a prospective buyer is the willingness of one of the current operating partners to remain involved under qualified ownership, providing valuable continuity and expertise. This turnkey operation offers immediate income potential and a solid foundation for continued growth in a desirable location. This is a truly unique opportunity for an ambitious entrepreneur seeking a well-established and profitable business.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $580,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $705,000
- 6.5%
- $715,000
- 7%
- $705,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $580,000
- Geo Method
- $710,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $745,000
- Retail
- $665,000
- Mixed-Use
- $630,000
- Hospitality
- $585,000
- Educational
- $665,000
- Residential Income
- $730,000
- Energy
- $735,000
- Income-Based Land
- $710,000
- Food Service
- $795,000
Location Insight
- Map
- Local Demand
- City
- Euclid
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.5262
- Latitude
- 41.5885
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
