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    506 Broadway Lorain, OH 44052

    For Sale
    $255,000

    Prime location, 4000 sq ft, endless potential.

    Property size:
    4,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    308
    This exceptional 4,000 square foot mixed-use property at 506 Broadway Unit 1, Lorain, OH, presents a remarkable opportunity for a discerning investor or business owner. Situated on a 0.01-acre lot in the heart of Lorain's revitalized Broadway Streetscape, this first-floor space offers unparalleled visibility and accessibility. Its versatile layout is perfectly suited for a wide range of commercial ventures, including retail establishments, restaurants, or professional offices. The prime downtown location ensures high foot traffic and exposure to a thriving community. The property's substantial size provides ample space for creative business development and expansion. This is an exceptional chance to establish a presence in a dynamic and rapidly growing area. The asking price of $255,000 reflects the significant value and potential of this unique property. Don't miss this opportunity to secure a prominent location in the heart of Lorain's revitalized downtown. Serious inquiries only.

    Property Features for 506 Broadway

    General Information

    Property type
    Mixed-use properties
    Square Feet
    4,000 SF
    Lot Size
    436 SF

    Building Details

    Year Built
    1900
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pure Ambience Body ... Health And Beauty Shop First Step STNA ... College

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.17636
    Latitude
    41.46636

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    FAQs

    What type of property is this?
    Mixed-use property - Prime location, 4000 sq ft, endless potential.
    Where is this mixed-use property located?
    The property is located at 506 Broadway Lorain, OH.
    What is the asking price?
    The asking price for this property is $255,000.
    (440) 282-4444
    Request Owner's contact information
    506 Broadway Lorain, OH 44052
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    Lorain, OH 44052
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    Realmo Value Estimation

    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.

    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.

    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
    506 Broadway Lorain, OH 44052
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