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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.
Disclaimer: The accuracy of all information regardless of source, including but not limited to square footage and lot size, is deemed reliable but not guaranteed nor warranted and should be personally verified through personal inspection by and/or with the appropriate professionals.
Listed By
Agency Name: Berkshire Hathaway HomeServices Professional Realty
Agency Contact: juliemarous@bhhspro.com, 440-479-4681
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