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    1641 Root Rd Lorain, OH 44052

    Sponsored
    For Sale
    $1,300,000

    16.1 Acres, Prime Location, High Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional 16.1-acre mixed-use property in Lorain, Ohio, presents a unique investment opportunity. The site boasts three parcels with significant frontage on Root Road, offering excellent visibility and accessibility. Currently featuring a residential dwelling with an attached apartment, the property's true value lies in its expansive land and strategic location. Situated near Lake Erie and directly across from a new racing car facility under construction, this area is experiencing significant growth and development. The property's proximity to I-90 ensures convenient access to major transportation routes. Existing infrastructure includes gas and water wells, a substantial holding pond, and a French drain system for efficient water management. The property is wooded, providing a natural and attractive setting. All mineral rights are included in the sale. The existing residential structures serve as a bonus, adding immediate potential for rental income or future redevelopment. This is an ideal location for a hotel/restaurant complex, with ample space for complementary boutique shops and recreational amenities. The seller is open to the possibility of additional land acquisition, making this an unparalleled opportunity to capitalize on the burgeoning development in this promising area. The asking price is $1,300,000.

    Property Features for 1641 Root Rd

    General Information

    Property type
    Mixed-use properties
    Lot Size
    701,316 SF

    Building Details

    Year Built
    1900
    Property Profile Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.13187
    Latitude
    41.46578

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    FAQs

    What type of property is this?
    Mixed-use property - 16.1 Acres, Prime Location, High Potential
    Where is this mixed-use property located?
    The property is located at 1641 Root Rd Lorain, OH.
    What is the asking price?
    The asking price for this property is $1,300,000.
    (440) 452-6244
    Request Owner's contact information
    1641 Root Rd 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
    1641 Root Rd Lorain, OH 44052
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