4375 Oberlin Ave

2,128 SF Retail Building Lorain, OH 44053 $265,000 ($125/SF) 9.06% Cap Rate

Executive Summary

Currently rented to a spa generating $2,250.00 in monthly income, with the tenant recently renewing their lease through December 1, 2025.
This property may qualify under Ohio state cannabis laws and their requirements; prospective buyers are advised to conduct their own due diligence.
The building features drive through capabilities, having previously operated as a drive through store. Additionally, the property includes ample parking space and a sizable section of raw land at the rear of the building. This land could be developed into additional parking or sold separately, subject to buyer investigation and verification. Buyers are encouraged to perform their own due diligence regarding all property details and potential uses.

Property Facts

Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,128 SF
Building Class
C
Year Built/Renovated
1960/2018
Price
$265,000
Price Per SF
$125
Cap Rate
9.06%
NOI
$24,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.86 AC
Zoning
PCD/CG
Parking
35 Spaces (16.45 Spaces per 1,000 SF Leased)
Frontage
106 FT on Oberlin Ave

Amenities

  • Pylon Sign
  • Signage

Nearby Major Retailers

Huntington National Bank
Northwest Bank
Rent-A-Center
Starbucks
Grocery Outlet
Planet Fitness

PROPERTY TAXES

  • Listing ID: 27508929

  • Date on Market: 1/13/2023

  • Last Updated:

  • Address: 4375 Oberlin Ave, Lorain, OH 44053