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    4940 Oberlin Ave Lorain, OH 44053

    Sponsored
    For Sale
    $260,000

    All-brick building, versatile, strong cash flow.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional all-brick commercial property, located at 4940 Oberlin Avenue in Lorain, Ohio, presents a fantastic investment opportunity. Situated on a 0.26-acre lot, the building boasts numerous recent improvements, ensuring both functionality and longevity. The structure is currently utilized as a childcare center, with a month-to-month tenant responsible for utilities (water, electric, heat) and a portion of the trash removal costs. The owner maintains lawn care. The current tenant expresses a desire to remain, offering immediate cash flow potential. However, the building's versatility allows for a wide range of alternative uses, making it an attractive option for various businesses. Significant upgrades include replacement windows, a new furnace (installed 3-4 years ago), a roof replacement (8 years ago), a hot water tank replacement (5 years ago), footer tiles around the entire perimeter (installed 15 years ago), and concrete work completed 15 years ago. The lower level is fully finished, featuring two convenient access points, multiple restrooms, and a mini-kitchenette, adding significant value and flexibility to the space. The asking price is $260,000. This property offers a compelling blend of immediate income potential and long-term growth prospects.

    Property Features for 4940 Oberlin Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    11,326 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Rita's Christian Academy Child Care Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.18602
    Latitude
    41.42407

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    FAQs

    What type of property is this?
    Commercial real estate - All-brick building, versatile, strong cash flow.
    Where is this commercial real estate located?
    The property is located at 4940 Oberlin Ave Lorain, OH.
    What is the asking price?
    The asking price for this property is $260,000.
    (440) 282-8002
    Request Owner's contact information
    4940 Oberlin Ave Lorain, OH 44053
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    Lorain, OH 44053
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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
    4940 Oberlin Ave Lorain, OH 44053
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