24790 Lakeland Blvd
Euclid, OH 44132
Industrial Property For Sale

Former Hertz (the Property) is an industrial property located at 24790 – 24800 Lakeland Boulevard in Euclid, OH. This investment offers potential upside with the opportunity to lease up 35,768 SF of vacant space at market rates in the area or an opportunity for redevelopment. The Property consists of one, one-story industrial building containing 35,768 SF, situated on 4.55 acres in Euclid, Ohio. Originally constructed in 1951, the Property has three docks and six drive-in doors and includes a sales/display lot of approximately 1/2 acre at the east edge. The average daily traffic count at the interchange of I-90 and Babbitt Road is 107,330; the count at the interchange of I-90 and SR 175 (E. 260th St) is 108,290. The subject property is located on the service road between the two interchanges. The building is currently temporarily occupied by a single tenant, Street Machinery Sales and Service, operating on a month-to-month lease as of October 2017. There is an additional month-to-month tenant that only leases an outside portion of vacant space. Both month-to-month tenants will vacate upon sale of the property. Located in Cuyahoga County, the Property is situated with frontage on Lakeland Boulevard (with 576' of frontage on Interstate 90. The property is highly visible from I-90) near the intersection of Highway 2 and Interstate 90, offering direct access to interstate highways, rail service, and airports. The Property sits adjacent to an active Amtrak railroad line. There is direct access to rail service at Stokes-Windermere Station (approximately 7.4 miles southwest) and Norfolk Southern (6.6 miles northeast). Local area airports include Cuyahoga County Airport (3.0 miles southeast), Burke Lakefront Airport (11.9 miles southwest), Cleveland Hopkins International Airport (23.9 miles southwest), and Gates Airport (38.4 miles southeast). Immediate surrounding land uses include primarily commercial to the east and west along Lakeland Boulevard, with residential use to the south and north across interstate 90. The Property benefits from its close proximity to Cleveland, Ohio, which is approximately 12.4 miles to the southeast along Interstate 90. The 51st largest city in the United States, Cleveland has a population of over 2.7 million. Cleveland is home to many corporate headquarters, including Forest City Enterprises, NACCO Industries, Cliffs Natural Resources, and KeyCorp. Major cities in proximity to the Property include Cleveland (12.4 miles southwest), Akron (44.0 miles south), Detroit, Michigan (180 miles northeast), and Pittsburgh, Pennsylvania (136 miles southeast). The area’s demographics include an estimated 2018 population of 82,946 people with an average household income of $59,217 within a 3-mile radius of the Property. Cuyahoga County’s five year economic development plan seeks to collaborate and align with the region’s economic development stakeholders and partners to create and sustain economic and population growth as well as job creation.