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Kutza Building 1302 Broadway 3,975 SF 100% Leased Retail Building Lorain, OH 44052 $220,000 ($55.35/SF)
Executive Summary
Great opportunity to own a historical building offering multiple income sources. Located at 1302 Broadway in downtown historic Lorain, this building once housed Kutza’s Pharmacy. Lucky for you, the majority of modernization has already been done. The two-story all brick building built in 1910, features a storefront, which has been used for a pharmacy, church, rental hall, professional office space, and includes private Men & Women’s restrooms. Access to the basement offers additional storage and features all new joists. Located behind the storefront is a 2-bedroom, 1 bath apartment. Upstairs are two more apartments; a 2-bedroom, 1 bath, and a 1-bedroom, 1 bath featuring a shared laundry area. Many upgrades have been completed over the last 10 years, including partial roof, furnaces, hot water tanks, Kitchens, Bathrooms, flooring, paint, light fixtures, etc. Best of all, the Utilities have been conveniently separated. On the side of the building, there is an additional parcel which features a gravel parking lot as well as on-street parking. The time is now to invest in this money-maker!!
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,975 SF
Building Class
C
Year Built/Renovated
1930/1991
Price
$220,000
Price Per SF
$55.35
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.61
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
B-2 - Retail/ Residential General Zoning Commercial Use. Two bedroom units are up and in back behind retail. A second rental that is one bedroom is also up.
Parking
12 Spaces (4.84 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $71,649 | |
| Land Assessment | $4,117 | Total Assessment | $75,765 |
Property Taxes
Parcel Numbers
Land Assessment
$4,117
Improvements Assessment
$71,649
Total Assessment
$75,765
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Kutza Building | 1302 Broadway
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