$27.80 Per Sq Foot $1,164 est/mo Sourced by Back At You

1605 Broadway,Lorain, OH 44052

Lorain OH, 44052

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Description

Discover a unique investment opportunity in Lorain with this mixed-use property undergoing renovations adjacent to Gyro House. Boasting a central location near the heart of Lorain, this building promises visibility and accessibility for residents and businesses alike. Spanning 6,294 sqft across two floors, the property features three rental living units upstairs and flexible retail space on the first floor, with city approvals for a restaurant, yet adaptable for various business ventures, such as storage/warehouse. Construction progress includes new framing throughout two residential units on the second floor, with plumbing rough-ins, and new beams, while rezoning allows for mixed-use applications. Positioned near Broadway and downtown, explore the potential of residential leasing options and the ability to convert the first floor into business space or the quickest option of storage, catering to diverse tenant and business needs. Consider the business opportunities, including multifamily units, offices, or simple storage, and secure your stake in Lorain's growth today. Contact the listing agent to explore this dynamic investment potential.

Details

MLS#5017168
Listing TypeFor Sale
StyleMixed Use
Sub-TypeResale
StatusActive
Days On Site157
Listing Provided ByHomeSmart Real Estate Momentum LLC | Michal Golab
Buying Commision3

Features

SQ Feet6,294
Story(s)2
Building(s)1
ZoningSee Remarks
Acreage0.15

Market Activity 44052

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Listings Checked: 33 minutes ago
StateOH
CountyLorain
CityLorain
Zip Code44052
Community NameChamberlains Add 01
Listing VS Median (in Chamberlains Add 01)
Price:
$175,000
low | high
Med:
$175,000
50% of Average
SqFt:
6,294
low | high
Med:
6,294
50% of Average
$ / SqFt:
$28
low | high
Med:
$28
50% of Average
On Site:
157
low | high
Med:
157.000000
100% of Average
Sourced by Back At You
Listing Updated: June 17, 2024 at 12:09:06 PM PDT