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365 E 200th Street
Euclid, OH 44119
Katerina Ali Michalopoulos with Century 21 Premiere Properties, Inc., original listing - (216) 455-7677
$5,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
--
Property Description
We are excited to offer a distinguished opportunity for a freestanding quick-service retail property, encompassing approximately 2,700 square feet, formerly operated as a bank. This well-constructed brick building is not only visually appealing but also offers a solid foundation for various commercial applications. Strategically located along 200 Street, this property enjoys exceptional visibility, attracting approximately 5,000 vehicles daily. Its proximity to Interstate 90 enhances accessibility, making it an ideal destination for both local patrons and passersby. Situated in the heart of the bustling suburb of Euclid, Ohio, the location benefits from a dynamic and diverse demographic, with nearly 75,000 residents within a three-mile radius, ensuring a steady flow of potential customers. The versatility of this property is one of its standout features. The layout and design of the building lend themselves to a variety of uses, allowing for seamless conversion into a dollar store, grocery store, or even a bank once again. This adaptability makes it an attractive investment for those looking to cater to the needs of the community or capitalize on the growing demand for retail services in the area. Call for more details and a private showing also available for sale Surrounding the property are prominent national retailers, including The Home Depot, Aldi, Chipotle, Dollar General, Dollar Tree, and Wendy's, creating a vibrant commercial landscape that draws significant foot traffic. This synergistic retail environment not only enhances the visibility of the property but also positions it as a prime location for any business endeavor. Given its strategic location, robust demographic, and versatile building design, this opportunity is poised for success in the competitive retail market.
Property Information
Lot Size
0 acre(s) square ft
Property Type
Commercial Lease-Mixed Use
Year Built
1975
MLS Number
--
Location
Address
365 E 200th Street
City
Euclid
State
OH
Zip Code
44119
County
CUYAHOGA (NORTHEAST)
Listing
Name
Phone
(216) 704-6020
Office Name
Office Phone
(216) 455-7677
Agent Name
Katerina Ali Michalopoulos
Agency Phone
(216) 455-7677

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.