5380 E Lake RoadSheffield, OH 44054

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.

Property Information

Property type

Commercial Sale

Sub-type

Retail

Year built

1956

Building area

6,812 Sq Ft

Lot size

0.50 acres

Days on market

1

MLS^® Listing#

5251343

Property Features

Heating

Natural Gas

Basement

None

Parking

Asphalt · Parking Lot

Roof

Flat

Sewer

Public Sewer

Financial Details

Annual taxes

$8,391Tax year 2025

Parcel number

03-00-033-105-001

Directions

Corner Shopping Plaza At Lake Rd And Cover Beach Ave.