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    5201-5207 Lorain Ave Cleveland, OH 44102

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    For Sale
    $599,900

    Value-add property with income potential in a growing neighborhood.

    Property size:
    4,917 SF
    Lot size:
    0.08 Acres

    Property Features for 5201-5207 Lorain Ave

    General Information

    Size
    4,917 SF
    Lot size
    0.08 Acres

    Source: Shoreway Realty Group Agent Kathleen A. Bassett

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building in Ohio City

    The property features a building with a first-floor store, including a bathroom, office space, and a full basement. The first-floor space can be converted back into two storefronts, each with a dedicated entrance. There are four units upstairs, two of which have been renovated and are ready to lease. These units are income producers with market rents expected to reach $1200-$1300 each. The first floor has the potential to earn approximately $2500-$4000 per month, depending on usage and layouts. Located in the Ohio City/Gordon Square Development Corporation area, this is a value-add property where significant capital expenditure items have been addressed. The building offers many potential uses as the neighborhood continues to grow. The property size is 4917 square feet.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    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
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.7223242
    Latitude
    41.4770586

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    FAQs

    What type of property is this?
    Apartment building - Value-add property with income potential in a growing neighborhood.
    Where is this apartment building located?
    The property is located at 5201-5207 Lorain Ave Cleveland, OH.
    What is the asking price?
    The asking price for this property is $599,900.
    What are key features of this property?
    This property features: - Income-producing property with potential for significant rental income.; - Two renovated, ready-to-lease units already generating income.; - First floor adaptable for commercial use with potential monthly income of $2500-$4000.
    (440) 503-8867
    Request Owner's contact information
    5201-5207 Lorain Ave Cleveland, OH 44102
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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
    5201-5207 Lorain Ave Cleveland, OH 44102
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