4375 Oberlin Ave | Lorain, OH 44053
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4375 Oberlin Ave
Lorain, OH 44053
6.5% Cap Rate, 7.38% when renewed-& · Retail Property For Sale
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
2,128 SF
Building Class
C
Year Built/Renovated
1960/2018
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.86 AC
Zoning
PCD/CG
Parking
35 Spaces (16.45 Spaces per 1,000 SF Leased)
Frontage
47’ on Oberlin Ave
AMENITIES
- Pylon Sign
- Signage
ABOUT 4375 OBERLIN AVE , LORAIN, OH 44053
1) Income generating building on a busy road. 2) The convenient store owner pays $20,400/year till 7/30/2023, and an option to renew the lease for another 5 years at $22,800/year rent. 3) The tenant pays for the insurance, water. sewer, gas, electricity, snow removal, and landscaping. 4) The landlord pays only the property tax. 5) Beyond 7/30/2028, the lease terms can be renegotiated.
PROPERTY TAXES
| Parcel Number | 02-01-008-101-390 | Improvements Assessment | $27,304 |
| Land Assessment | $17,290 | Total Assessment | $44,594 |
PROPERTY TAXES
Parcel Number
02-01-008-101-390
Land Assessment
$17,290
Improvements Assessment
$27,304
Total Assessment
$44,594
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