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Lakefront Lot with Income Potential
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2928 W Erie Avenue, Lorain, OH 44053

Two parcels with lake views, existing house, and R3 zoning.

Property SizeContact for details
Lot Size1.78 Acres
Days on Market980

Property Features for 2928 W Erie Avenue

General Information

Standard status Active
Lot size 1.78 Acres
Property subtype Land, Multifamily
Listing Agency: Rise Realty
Listed By: Tamara Adams · License #2010003250
Source: Crexi
Added: Dec 3, 2023 Changed: Aug 8 Last Checked: Aug 8 at 11:32AM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rise Realty

Investment Insights

Based on property information with market context.

This property features R3 zoning and consists of two parcels. The first parcel, located at 2928 W. Erie Ave., is approximately 60 feet wide x 700 feet deep and totals 1.30 acres. This lakefront lot offers 180-degree views of Lake Erie and includes shoreline protection. The second parcel, located at 2912-2914 W. Erie Ave., comprises 0.48 acres and includes an existing two-family house and a barn. The house has a new roof, new windows, and new exterior paint, but the interior requires remodeling. Note that a member of the selling entity is a licensed Real Estate agent in the State of Ohio. The west lot (parcel 02-02-022-101-025) has been sold.

Key Highlights

  • 1.30 acre lakefront lot with 180‑degree views of Lake Erie.
  • R3 zoning offers multiple development options.
  • Shoreline protection is already in place.

Property Analytics

Current Use

Residential land & home ...

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

272
Businesses Nearby

Demographics for 44053, OH

20,735
Population
9,529
Households
2.2
Avg Household Size
44
Median Age
21%
College-Educated
91%
High-School Grad
10.8 sq mi
ZIP Area
1,920
Density / Sq Mi
$65,332
Median Household Income
$43,654
Median Earnings
$827
Median Rent
$189,500
Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Residential land & home lot - Two parcels with lake views, existing house, and R3 zoning.
Where is this residential land & home lot located?
The property is located at 2928 W Erie Avenue Lorain, OH.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1.30 acre lakefront lot with **180‑degree views of Lake Erie**.; R3 zoning offers multiple development options.; Shoreline protection is already in place.
More about this property
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