$690,000
717 E Erie Ave, Lorain, OH 44052
Current Rent **
$10,000+
Projected Rent **
$10,000+
Absolute NNN Single Tenant Retail
Red 1 Realty is pleased to exclusively list an Absolute NNN Single Tenant 1,530 square foot Restaurant located in Lorain, (Lorain County), Ohio. The subject property is settled on 0.24 acres and is located near multiple schools & housing developments. The property features views of Lake Erie with proximity to the pier & marina. Lorain is a city in Lorain County, Ohio, United States. The municipality is located in northeastern Ohio on Lake Erie, at the mouth of the Black River, approximately 30 miles west of Cleveland.
As of the2010 census, the city had a total population of 64,097, making it Ohio’s tenth largest city, the third largest in Greater Cleveland, and the largest in Lorain County by population. The city is notable for its deindustrialized economy, formerly being home to the American Ship Building Company Lorain Yard, Ford Motor Company Lorain Assembly Plant, and United States Steel Corporation’s sprawling steel mill on the city’s southside. One of the highlights of the summer season is the Lorain International Festival. Every year, as part of the festival, there is
a pageant of princesses who each represent their heritage.
OFFERING SUMMARY
Price: 690,000
Net Operating Income: $41,371.20
Capitalization Rate: 6.00%
Rent / SF: 27.03
Lease Type: Absolute Net
Gross Leasable Area: 1,530 SF
Year Built / Renovated: 1972
Lot Size: 0.24 acre(s)
Location:
717 E Erie Ave, Lorain, OH 44052
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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