1735 Broadway
Lorain, OH 44052
Retail Property For Sale

Besides the reduced price, the buyer can offer a discounted price for a quick closing. The property is at the junction of two major roads and accommodates multiple lines of business. 1) On the buyer(s) need basis, this 20,907 SF listing can be divided into three parts for sale: A)The first part can include the Storefront building that consists of about 8973 SF first floor and an additional 8973 SF basement (Parcel xxx006, xxx007, xxx008) along with 25ft road front parking lot that consists of billboards (Parcel xxx005). B) The second part can include the storefront building of 25Ft road front (Parcel xxx009) with about 3000 SQ Ft First Floor with 1 half bath, one entrance from Broadway and two entrances from Elyria Av/Brannan Ct. C)The 125 Ft road front parking lot (Parcel xxx004, xxx022) which even helps to build a fresh business structure in the parking lot. Investors are welcome to take the property and market the way they envision. 2) Alternative to the building sale, available for lease at an affordable price. The lease contract can be 1 year to 20 years with possible extensions spelled out along with an option to buy. Great location to expand the business from other cities/counties/states and the past experience helps to set up effectively. Unless specified in detail, the following writeup refers to the total of 20,907 SQ FT GLA and all the parcels. 3) Just about two blocks or so from the subject property, the Advance Auto parts building (at 2025 Broadway) listed for sale (excluding the business) for about twice the price($1.325 million) while the building is over half the size (7000 Sq Ft) of just 1 st floor, or about 1/3rd when included the basement. Hence, a huge potential for this storefront location of a major street which supports any kind of single or multiple businesses (fast food with C-store along with or without gas station, auto parts, Dunkin Donuts, pizza, an auto dealership with or without gas station, delivery company including Federal Express & UPS). Once again huge discounts available from this building from the listed price either for the lease or to sell, part of which you can use for any needed renovation and or for other purposes you choose. 4) Once again, you can set up any business you want, including a gas station with external drive through and C-store/fast food with internal drive through. Heard such a gas station with external mechanism existed several decades ago along with Ford dealership and the drive through areas. The building's parking lot (Broadway, Elyria, and !7th street junction) could be a very desired location to the gas station at this age. Also, the huge space provides an opportunity for multiple businesses. Within 2 miles radius, you can come across only one gas station which was on Broadway Sunoco. That gas station has about 1200 SqFt C-store cum hot fast food with a deep fryer. Besides having other food businesses in the area, the gas station is so busy with the fast food and their business sale asking price was $550,000 and $12,000/month Triple Net lease. You can imagine if you can set up a fast food store with or without a gas station and other businesses at this property. However, you can try only if you have experience in that business otherwise time won't be enough to learn from scratch. 5) This property can support multi-tenants too. About 20,907 Sq Ft Gross Leasable Area (GLA) which consists of 11,934 SqFt on the first floor and about 8973 Sq Ft basement (full height with concrete basement top) available for sale or for lease. The sale includes additional parcels of adjacent land for parking along with high-level Billboard. 6) LAMAR pays a minimum of $3,000 (based upon contract length)for leasing the Billboard (2 boards on each side and gives total 4 ads - please see the related picture), which is sufficient for 75% of the present annual real estate taxes on all the six parcels. 7) About 3,500 Sq Ft of the first floor was ceramic tiles installed in 2018 for six lines of business: i) C-store with cool drinks and with the planned C1, C2, and D6 liquor licenses (supporting walk-in cooler and several 3-door, 2-door, and single door coolers) ii) freshly made hot food and freshly made sandwiches (with deep fryers, automatic fryer, grill, griddle, Turbo Chef oven) iii) Pizza line (with Middleby Marshall double deck pizza oven, Bakers pride oven), iv) grocery line, v) frozen yogurt line(five frozen yogurt machines, 3 are Stoelting and 2 Electro Freeze, each with dual flavor), and vi) Lotto and check cashing line. and the store design approved to get installed the equipment which includes Type I hood with fire suppression and makeup air, pizza hood with makeup air. 8) Opposite to the subject property, a 10 story apartment building supports the business along with other residences and the surrounded businesses. The equipment didn't get installed and the new owner can establish the same business (if so equipment is available at an additional discount)or can build the business to suit. 9) Long ago the building and the parking lot used for Ford dealer center. Hence the concrete floor that supported by full height pillars in the basement. A powered escalator moves the equipment from and to the basement -an additional convenience for any business/office/warehouse/transportation/retail/wholesale. 10) One of the side adjacent buildings has tenants. Having multi-use zoning it is an added advantage for any suit to build type investors to convert the facility the way they wanted. 11) In addition, if you are experienced in any of the above viable businesses and need assistance with the existing equipment or the building, that option can be explored-which helps the community too at large. 12) If you are planning to establish a business in a new location (whether a national brand or local) or moving to a new location then seriously consider this location. Your relocation and or business establishment with renovation costs would be mitigated accordingly from the purchase or from the lease terms.