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Archived almost 3 years ago

$399,900

rooms 1 ba 10716 sqft

1039 Bridge Dr, Lorain , OH 44052

Commercial Industrial

Current Rent **

$3,000

Projected Rent **

$5,600

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Industrial Warehouse - 10,000+ Sq Ft!

Industrial warehouse (Zoned I-1 per Lorain City Zoning Map) just over 10,000 sq ft on 2 acres with a ton of paved parking and 2 ingress/egress access point doors. It currently has tenants occupying the space with one paying $3000/month and the other paying $1200/month as well as leasing a spot to an RV for $80/month. It has a newer roof and gutters, updated electrical, 2 newer overhead gas furnaces and a new alarm system. Both tenants want to stay and are on month-to-month leases and the the owner currently pays for utilities. The upside here is to implement triple net leases as well as lease out more of the exterior space to trucking companies, campers, RV's etc. and a big opportunity to create outdoor storage spaces to rent out.

Location:

1039 Bridge Dr, Lorain , OH 44052

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** 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.