Neighborhood Grocery Store on
2957 Pearl Avenue Lorain, OH 44055
2957 Pearl Avenue, Lorain, OH, 44055
$600,000
For Sale
$600,000
COMMERCIAL - Lorain, OH
Property Size1,624 SF
Lot Size0.33 Acres
Price / SF$369.46
Days on Market21
Property Features for 2957 Pearl Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 03-00-096-116-012
- Lot size
- 0.33 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- S L CO 75.00 X 100.00 LOT # 342
- Tax Annual Amount
- 1726
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1963
- Roof type
- Asphalt, Fiberglass
Listing agency
Russell Real Estate Services
(440) 327-6511
Listed by
Fabian Candelario · License #2013001316
(440) 396-8960
Added: Jul 2 Updated: Jul 7 at 4:37PM Checked: Jul 22 at 7:06AM
MLS# 5224487
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale offering includes an established neighborhood grocery business along with the building, land, and included equipment for continued operations. The store currently offers groceries plus beer, wine, cigarettes, and Ohio Lottery sales. Beer, wine, tobacco, and Ohio Lottery licenses are available for transfer in accordance with state regulations. The approximately 1,624-square-foot retail building features on-site parking, public utilities, central air conditioning, and natural gas forced-air heating.
The property is situated on a highly visible corner along Pearl Avenue in Lorain, providing convenient customer access.
For buyers seeking a turnkey neighborhood market setup, this package is designed to support an immediate transition, with the current owners willing to provide training and consultation for an agreed-upon period. Financial information is available to qualified buyers upon request.
The property is situated on a highly visible corner along Pearl Avenue in Lorain, providing convenient customer access.
For buyers seeking a turnkey neighborhood market setup, this package is designed to support an immediate transition, with the current owners willing to provide training and consultation for an agreed-upon period. Financial information is available to qualified buyers upon request.
Key Highlights
- Neighborhood grocery store with business, building, land, and included equipment
- Approximately 1,624 SF retail building; served Lorain community for more than 30 years
- Central A/C plus natural gas forced‑air heating; public water and public sewer
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.4k | $15.00 |
| − Vacancy | −$1.0k | −$0.63 |
| EGI | $23.3k | $14.37 |
| − OpEx | −$5.8k | −$3.59 |
| NOI | $17.5k | $10.78 |
1,624 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$250.0K
$218.8K – $291.7K
NOI $17,503 @ 7.0% cap · market cap 2.92%
Second Best
Retail
$233.4K
$204.2K – $272.3K
NOI $16,336 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$409.2K
$358.1K – $477.5K
NOI $28,647 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Roman's Groceries
Grocery & Convenience Store
ATM
Atm
Similar For Sale Nearby
Similar Off Market Nearby
- Key Food Supermarket — 1602 E 28th St, Lorain, OH 44055
FAQs
What type of property is this?
Grocery and convenience store - Turnkey neighborhood grocery sale includes business, building, land, and equipment for immediate continued operation.
Where is this grocery and convenience store located?
The property is located at 2957 Pearl Avenue Lorain, OH.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Neighborhood grocery store with business, building, land, and included equipment; Approximately 1,624 SF retail building; served Lorain community for more than 30 years; Central A/C plus natural gas forced‑air heating; public water and public sewer
