874 E Aurora Rd - Freestanding FOR SALE


Macedonia, OH 44056
$350,000 USD
440-670-2300
874 E Aurora Rd, Macedonia, OH for Sale
$350,000 USD
Freestanding - FOR SALE
1/36
null | 11.07% Cap Rate

874 E Aurora Rd
Macedonia, OH 44056


HIGHLIGHTS

  • Current Gross Income: $2,850/month (with pro forma potential of $4,350/month)
  • Annual Expenses: $16,500
  • Occupancy: 80%, with daycare lease through 2027 and salon lease through March 2026
  • Vacant Unit: Rent-ready, projected at $1,500/month plus CAM fees
  • Prime Location: Just off I-271 in Macedonia, OH, with 15,000-18,000 VPD and proximity to major retailers
  • Recent Upgrades: Parking lot repaved in 2023 with 17 parking spaces

OVERVIEW

Exceptional Investment Opportunity: Fully Leased Retail Center with Value-Add Potential in Thriving Macedonia! This well-maintained multi-tenant strip center is a standout opportunity for investors seeking immediate cash flow with room to grow. Located in the high-demand market of Macedonia, Ohio, this property features 3 units with nearly 4000 rentable sq ft at a current 80% occupancy to established tenants that include a daycare and salon that are currently generating $2,850/month plus CAM fees. A vacant unit, ready for lease, offers additional income potential of $1,500/month plus CAM fees, bringing total pro forma income to $4,350/month. Recent upgrades include a brand-new parking lot (2023) with 17 spaces, ensuring convenience for tenants and customers. Each unit is equipped with its own Trane furnace, inspected annually, as well as private hot water tanks and bathrooms. The owner also recently had a 30ft sewer scope performed to ensure there were no blockages. Seller does not know exact age of roof or mechanicals. Zoned B-1 in the Convenience Business District, this property is located just moments off I-271, with 15,000-18,000 vehicles per day and over 60,000 vehicles traveling nearby on I-271. Surrounded by major national retailers like Starbucks, Hobby Lobby, Planet Fitness, Home Depot, Nordstrom Rack, and Pulp, this property offers prime visibility and accessibility for businesses. Strategically located in Macedonia, a booming city with easy access to I-271 and Route 82, this property benefits from a median household income exceeding $100,000 and a growing population, making it a prime location for businesses. With stable income, modern infrastructure, and strong leasing potential, this is your chance to own a high-performing retail center in one of Northeast Ohio’s most desirable markets. *Offering Memorandum will be visible in the Deal Room after Confidentiality Agreement is Executed*

FOR SALE DETAILS

PRICE

$350,000 USD

PRICE/SF

$89 USD /SF

CAP RATE

11.07%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Day Care Center

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

B-1

APN/PARCEL ID

33-03507

ASK ABOUT THIS PROPERTY

Erin ThomasKeller Williams LIVINGMore Info
440-670-2300

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Erin ThomasKeller Williams LIVINGMore Info
440-670-2300

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.