USAOHSheffield LakeCove Beach Allotment5380 E Lake Rd

5380 E Lake Rd, Sheffield Lake, OH

Name: 5380 E Lake Rd, For Sale in Sheffield Lake - Zoocasa
Brand: Russell Real Estate Services
SKU: 5251343
Price: 499000 USD

House

For Sale

Listed price in listed location currency (USD).

$499,000

000

MLS® 5251343

Overview

Key Facts

Type Retail

Levels Commercial Sale

Size -

Garage

Taxes $8,391

Days Active 1

Lot Size 0.4959 Acres

Approx. Age 1956

MLS® Number 5251343

Property Address: 5380 E Lake Rd, Sheffield Lake, OH, 44054-1823

Average square foot calculated using Size range provided by listing agent.

Description

INVESTMENT OPPORTUNITY in Sheffield Lake! This well-established neighborhood strip center at 5380 Lake Rd. offers 6, 812 SF of commercial space on approximately 0.50 acres with six retail units. Five units are currently occupied with established tenants, while the sixth unit is currently available and being offered at $700/month—providing an immediate opportunity to increase rental income. Current scheduled rents total $5, 540/month ($66, 480 annually), with potential gross rental income of approximately $74, 880 annually when fully leased at the current asking rent for the vacant unit. Based on the current rent roll and 2025 operating expenses provided by the owner, the property reflects an estimated 8.4% capitalization rate at the asking price, with potential to exceed 10% once fully leased, subject to actual operating expenses and occupancy. The property is in good overall condition, offering an investor the opportunity to capitalize on below-market rents and future rental growth while benefiting from an established tenant base. Modified gross leases, long-term tenancy, and a proven retail presence add to the appeal. Strategically positioned along Lake Road, this is an excellent opportunity for an investor seeking a stabilized, income-producing commercial property with upside potential. Property, financials, leases, and income/expense information available for qualified buyers.

MLS® Number5251343

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1956

BasementNone

DrivewayAsphalt, Parking Lot

Garage Spaces

HeatGas

A/C

Extras

Price History

Last Sold Price

$550$550

Appreciation

Avg. Days Listed

12 days

Today, For Sale for $499,000

For Sale · 0 days

$499,000

MLS® 5251343

9 hours ago

Not Sold Yet

October 2026, For Rent for $700

For Rent · 0 days

$700

MLS® 5251405

9 hours ago

Not Leased Yet

Oct 7, 2026, For Sale for $499,000

July 2024, Leased for $550

Leased · 23 days

$550$600

MLS® 5050804

2 years ago

Sold on Jul 26, 2024

Map

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