9840 Ravenna Rd - Freestanding FOR SALE


Twinsburg, OH 44087
$399,000 USD
440-670-2300
9840 Ravenna Rd, Twinsburg, OH for Sale
$399,000 USD
Freestanding - FOR SALE
1/39
null | Request Cap Rate

9840 Ravenna Rd
Twinsburg, OH 44087


HIGHLIGHTS

  • 80% occupied at $4,500/mo
  • Great location in Twinsburg town Square
  • New parking lot
  • Value add through rent increase and placing a tenant

OVERVIEW

This versatile property is located in the heart of Twinsburg town square, with a newer Starbucks (2017) just across the park and major retailers, such as Giant Eagle and Walgreens, all around. Previously the public library, this property was converted into a 3 tenant suite and now offers a great opportunity for a new owner to create wealth. Approximately 80% of the building is currently occupied by a long-term dance studio, generating $4,500 per month on a month-to-month lease. This unit offers several large studios, common areas, 2.5 baths and multiple break and storage rooms. It’s currently rented approximately 50% below market rate, offering significant value-add potential with little to no expense. An additional 1,500 sq. ft. of rent-ready space is available and would be ideal for various business uses. Previously a boutique, this space offers 2 dressing rooms and an office/ storage area. There was originally a 3rd unit off the common corridor which was assumed by the dance studio and could be rented separately again in the future. The common corridor offers 2 sets of his & hers baths. The property includes a newly paved parking lot (2021, sealed in 2023) that offers 17 parking spots. Other improvements include some waterproofing and a sump pump (2022), new entry door, most lights upgraded to LED and new flooring in the vacant unit. Utilities are not separated. Situated near major employers like the Amazon Fulfillment Center and FedEx and other popular amenities, this property offers strong tenant appeal and easy access to major highways in a thriving community. Contact us today for more information or to schedule a tour!

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$34 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

17,113 SF

ZONING

-

APN/PARCEL ID

64-00188

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.