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    422 Broadway Lorain, OH 44052

    For Sale
    $470,000

    Prime Commercial Building, Endless Potential

    Property size:
    11,062 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    313
    This exceptional three-story mixed-use building, located at 422 Broadway in historic downtown Lorain, Ohio, presents a unique investment opportunity. Boasting 11,062 square feet on a 0.21-acre lot, the property is ideally positioned to capitalize on the city's growth trajectory. Currently configured as a restaurant and bar, the versatile floor plan offers significant potential for diverse uses. The first floor is designed for a fine dining and bar experience, while a separate second-floor entrance provides a private entertainment area featuring skylights and original hardwood floors. The third floor is well-suited for luxury apartments or a spacious owner's suite. The building's exterior creates a unique setting for outdoor dining, enhancing its appeal. Its prime location offers easy access to Lake Erie, Black River Landing, the Palace Theater, parks, and shopping, providing significant foot traffic and visibility. This property represents a chance to acquire a substantial commercial building with a rich history and a bright future, offering a blend of established business potential and exciting redevelopment possibilities. The asking price is $470,000. Don't miss this chance to secure a piece of Lorain's vibrant downtown.

    Property Features for 422 Broadway

    General Information

    Property type
    Mixed-use properties
    Square Feet
    11,062 SF
    Lot Size
    9,148 SF

    Building Details

    Year Built
    1900
    Insight Report Location Intelligence

    Current Use by Public Records

    Union Town Provisions Restaurant

    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
    -82.17702
    Latitude
    41.46677

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Commercial Building, Endless Potential
    Where is this mixed-use property located?
    The property is located at 422 Broadway Lorain, OH.
    What is the asking price?
    The asking price for this property is $470,000.
    (440) 282-4444
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    422 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
    422 Broadway Lorain, OH 44052
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