Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4520 Oberlin Avenue Lorain, OH 44053

    View on Map
    For Sale
    Under Contract
    $349,900

    SINGLE_FAMILY - Lorain, OH

    Type:Office
    Property size:
    5,400 SF
    Lot size:
    1.21 Acres
    Added:
    Sep 9, 2025
    Days on Market:
    205
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 4520 Oberlin Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking
    40
    Parking features
    Driveway, Assigned
    Standard status
    Active Under Contract
    APN
    02-02-006-115-019
    Size
    5,400 SF
    Lot size
    1.21 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    7523

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1980
    Floors in Building
    1
    Roof type
    Asphalt, Fiberglass

    We can help!

    Listing Contact
    Lipi Shah
    Lipi Shah

    Listing agent Lipi Shah License #2018004462

    Listing office EXP Realty, LLC. 159 Crocker Park Blvd. #400, Dublin, OH

    Listing date Sep 9, 2025

    MLS# 5154987

    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.

    Overview

    Turnkey Medical Office, Lorain, OH

    This 5,400 sq ft concrete commercial building is situated on a 1.2-acre lot in a high-visibility area of Lorain. Zoned General Commercial, this versatile property is configured as a fully operational medical office, making it a turnkey solution for a healthcare provider, urgent care, or specialty clinic. The building features 4 private offices, including one currently owner-occupied and 3 vacant offices. Constructed of concrete with a brick front, the building offers durability and low maintenance. Ample parking is available on the large lot. The flexible layout can be adapted for other commercial uses such as an event center, wellness spa, business headquarters, or professional services. This property offers value and opportunity in a growing market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    D R Sison ... Physician D R Sison ... Medical Clinic Bridges and Glass Law Firm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Lorain Animal Clinic, Inc. — 4205 Oberlin Ave, Lorain, OH 44053
    • Amherst Animal Hospital — 1425 Cooper Foster Park Rd, Amherst, OH 44001
    • Amherst Animal Hospital: Bock Kristin DVM — 1425 Cooper Foster Park Rd, Amherst, OH 44001
    • Dr. Mark Gigliotti DVM — 1425 Cooper Foster Park Rd, Amherst, OH 44001

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.186639
    Latitude
    41.429395

    Nearby Similar for Sale

    • $799,900

      Retail Building on Six Acres

      Well-maintained retail building with expansion potential on six acres.
      420 N Ridge Road W, Lorain, OH 44053
      View Details
    • $83,900

      Commercial Property in High-Traffic Area

      Well-maintained commercial property with high visibility and convenient parking.
      5363 Oberlin Avenue, Lorain, OH 44053
      View Details
    • $325,000
      11,062 SF

      Downtown Lorain Mixed-Use Opportunity

      Revitalized downtown location suitable for culinary, retail, office, or mixed-use.
      422 Broadway Avenue, Lorain, OH 44052
      View Details
    • $249,900
      3,804 SF

      Lorain Multifamily Investment Opportunity

      Multifamily property with long-term tenants and below-market rents.
      1310 Lindenwood Drive, Lorain, OH 44053
      View Details
    • $155,000
      2,274 SF

      Income-Producing Duplex in Lorain, OH

      Two-unit property with strong rental income and updated features.
      508 W 23rd Street, Lorain, OH 44052
      View Details
    • $215,000
      2,224 SF

      Renovated Brick Duplex in Lorain

      Updated duplex with new systems, modern finishes, and rental potential.
      2400 Oberlin Avenue, Lorain, OH 44052
      View Details
    • $159,900

      Updated Duplex Investment Opportunity

      Well-maintained duplex with significant updates, offering flexibility and value.
      1113 W 9th Street, Lorain, OH 44052
      View Details
    • $125,000

      Lorain Duplex: Income Opportunity

      Duplex in Lorain, OH with built-in income potential.
      2228 E 30th Street, Lorain, OH 44055
      View Details
    • $105,000
      2,511 SF

      Lorain Multifamily Investment Opportunity

      Multifamily property with long-term tenants in a quiet location.
      510 E 25th Street, Lorain, OH 44055
      View Details
    • $49,900
      1,980 SF

      Lorain Retail Space For Sale

      Retail space available in Lorain, Ohio.
      2353 Livingston, Lorain, OH 44052
      View Details
    • $475,000

      Lorain Office Building For Sale

      Office building in Lorain, previously used as a doctor's office.
      1670 Cooper Foster Park Road W, Lorain, OH 44053
      View Details
    • $192,600
      2,886 SF

      Well-Maintained Duplex in Lorain, OH

      3-bedroom side-by-side duplex near Lake Erie, parks, schools.
      502-504 Euclid Avenue, Lorain, OH 44052
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 5,400 sq ft commercial building on 1.2-acre lot.
    Where is this medical office space located?
    The property is located at 4520 Oberlin Avenue Lorain, OH.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: Turnkey 5,400 sq ft medical office or adaptable commercial space.; Located on a spacious 1.2‑acre lot in a high‑visibility area.; Zoned General Commercial, offering versatile usage options.
    (440) 781-6540
    We can help!
    Listing Contact
    Lipi Shah
    Lipi Shah
    Real Estate License ID: 2018004462
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!