4375 Oberlin Ave
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4375 Oberlin Ave
2,128 SF Retail Building Lorain, OH 44053 £207,349 (£97/SF) 9.06% Net Initial Yield
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.
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
£207,349
Price Per SF
£97
Net Initial Yield
9.06%
NOI
£18,779
Tenancy
Single
Number of Floors
1
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
PROPERTY TAXES
| Parcel Number | 02-01-008-101-390 | Improvements Assessment | £15,199 |
| Land Assessment | £11,447 | Total Assessment | £26,646 |
PROPERTY TAXES
Parcel Number
02-01-008-101-390
Land Assessment
£11,447
Improvements Assessment
£15,199
Total Assessment
£26,646
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Presented by
Robert Rezvani
4375 Oberlin Ave
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