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26508-26520 Lorain Rd
North Olmsted, OH 44070
Auction | REO Sale – Cleveland MSA Retail · Retail Property For Sale
Investment Highlights
- STARTING BID $850,000 | 75% Occupied | 67,050 SF | AUCTION DECEMBER 5-7, 2023
- Offering Includes 4,500 SF Freestanding Building Leased to Vitamin Shoppe with NNN Terms – Potential to Separately Parcel and Spin-Off
- Located among a Who’s Who of Surrounding Big-Box & Junior Box Retailers Driving Traffic to Area; 5.6 Million SF of Retail Leased to 98% Occupancy
- Anchored by Ashley Outlet – New Gross Lease in 2022
- Significant Upside Potential via Lease-Up of 16,615 SF Across Two Adjacent Retail Vacancies
- Situated Along Lorain Road - Primary East-West Commercial Corridor with 22,881 VPD | Above-Average Incomes: AHHI of $85-$102K in 1/3/5-Radii
Property Facts
Property Type
Retail
Building Size
67,050 SF
Building Class
C
Year Built/Renovated
1979/2001
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.25
Lot Size
6.20 AC
Zoning
C-1 - Commercial
Parking
341 Spaces (5.09 Spaces per 1,000 SF Leased)
Frontage
154’ on Lorain Rd
Amenities
- Signage
- Wheelchair Accessible
- Air Conditioning
Property Taxes
| Parcel Number | 232-26-008 | Improvements Assessment | $1,655,400 |
| Land Assessment | $2,249,100 | Total Assessment | $3,904,500 |
Property Taxes
Parcel Number
232-26-008
Land Assessment
$2,249,100
Improvements Assessment
$1,655,400
Total Assessment
$3,904,500
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