37931 Vine ST, Willoughby, OH 44094
37931 Vine ST, Willoughby, OH 44094
37931 Vine ST, Willoughby, OH 44094
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$919,900
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0.45 Acres Lot
Price Dropped by $75K

37931 Vine ST Willoughby, OH 44094

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Town & Country

Town & Country

+1(740) 454-0500

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Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Merchants Park

MLS Listing ID 5190238

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1981

Annual Tax Amount $10,916

Tax Year 2025

Lot Size 0.449 Acres

Acres 0.4488

Property Sub-Type Mixed Use

Property Description

Exceptional mixed-use investment opportunity in the heart of Downtown Willoughby. Situated on a single parcel with ample off-street parking, this unique offering combines a fully leased historic brick triplex, a 7,200-square-foot commercial building, and a custom luxury residential loft, creating multiple income streams and significant upside potential. The front brick triplex is fully occupied and features three updated residential units with strong rental history. Unit 1 is a two-bedroom, one-bath residence with an updated kitchen, updated bath, and in-suite laundry, currently leased for $1,450 per month. Unit 2 is a fully updated one-bedroom, one-bath unit leased for $1,200 per month, while Unit 3 is a fully updated one-bedroom, one-bath unit leased for $1,300 per month. Current gross residential income totals $47,400 annually. The triplex benefits from newer HVAC systems and hot water tanks throughout.The rear commercial building offers approximately 7,200 square feet of flexible space currently occupied by a successful furniture upholstery business. The lower level includes warehouse space, offices, restroom facilities, laundry, and two oversized garage bays. The seller is willing to lease back a portion of the commercial space, providing an opportunity for immediate stabilized commercial income. Additional warehouse and commercial space offers further leasing potential.Above the commercial building is an impressive 1,650-square-foot custom-built loft featuring high-end finishes, an open-concept floor plan, private laundry, and an expansive rooftop deck overlooking Downtown Willoughby. The loft is currently owner-occupied and could generate approximately $2,500 per month ($30,000 annually) in additional rental income. Based on current rents and projected lease-up opportunities, the property offers the potential to generate approximately $135,000 to $141,000 in gross annual income. A rare opportunity to own a versatile mixed-use asset in Downtown Willoughby.

Location

State OH

County Lake

Rooms

Basement Partial

Interior

Heating Forced Air, Gas

Cooling Central Air, Ceiling Fan(s)

Fireplace No

Exterior

Parking Features Attached, Driveway, Garage

Water Access Desc Public

Present Use Commercial,Multi-Family,Mixed Use

Garage true

Building

Sewer Public Sewer

Water Public

Construction Status Updated/Remodeled

Schools

School District Willoughby-Eastlake - 4309

Others

Tax ID 27-B-036-0-00-020-0

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

VOW - Northern Ohio Regional MLS (YES-MLS) /MLS Now
Listed by Julie A Marous • Berkshire Hathaway HomeServices Professional Realty • juliemarous@bhhspro.com, 440-479-4681

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Town & Country

Town & Country

Real Estate Brokerage | License ID: 0000331236

+1(740) 454-0500

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37931 Vine ST