Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3221 Oberlin Avenue Lorain, OH 44053

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in a high-profile, grocery-anchored shopping center.

    Type:Retail
    Property size:
    10,628 SF
    Added:
    Nov 22, 2025
    Days on Market:
    141
    Last Refresh:
    Apr 5 at 8:39 pm

    Property Features for 3221 Oberlin Avenue

    General Information

    Standard status
    Active
    Size
    10,628 SF
    Property subtype
    Retail

    Spaces For Lease

    at 3221 Oberlin Avenue Contact us

    We can help!

    Listing Contact
    Joseph Khouri
    Joseph Khouri

    Listing agent Joseph Khouri License #2008000837

    Listing office CBRE | Cleveland

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Cleveland

    Overview

    Retail Space in Grocery Anchored Center

    This retail space is located within a grocery-anchored shopping center at the intersection of Oberlin Avenue and Meister Road. The center is home to tenants including Apples, Rainbow, Rent A Center, Dollar Tree, and McDonald’s. Dollar Tree is now open. The location is near Lighthouse Village, which is anchored by Walmart, Kohls, and Home Depot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    McDonald's Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • Lorain Plaza Shopping Center — 3317A Oberlin Ave, Lorain, OH 44052
    • Coinstar Kiosk | Bitcoin ATM — Cascade Management Services, 1051 Meister Rd, Lorain, OH 44052

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.185
    Latitude
    41.4413

    Nearby Similar for Lease

    • Contact for pricing

      Versatile Commercial Space in Lorain

      Adaptable commercial space suitable for office, studio, or retail use.
      1757 Broadway, Lorain, OH 44052
      View Details
    • Contact for pricing

      Commercial Property in High-Traffic Area

      Well-maintained commercial property with high visibility and convenient parking.
      5363 Oberlin Avenue, Lorain, OH 44053
      View Details
    • Contact for pricing

      Downtown Lorain Retail Storefront

      Prime retail space suitable for various business ventures.
      506 Broadway unit: 1, Lorain, OH 44052
      View Details
    • $3/mo

      Lorain Industrial Site For Lease

      81,640 SF industrial property with redevelopment potential in Lorain, OH.
      7451 Terminal Drive, Lorain, OH, 44053
      View Details
    • Contact for pricing

      Former Grocery Store For Lease

      49,636 SF former grocery store available for lease.
      1051 Meister Road, Lorain, OH, 44052
      View Details
    • Contact for pricing

      Retail Space in Lorain, Ohio

      Retail space available in well-established shopping center on Route 57.
      2222 Fairless Drive, Lorain, OH, 44055
      View Details
    • $3/mo

      Warehouse Space Available For Lease

      60,000 SF warehouse divisible for lease in Lorain, OH.
      2001 Elyria Avenue, Lorain, OH, 44052
      View Details
    • Contact for pricing

      Retail Space Near I-90

      Retail space available near I-90 with flexible layout.
      1980-2000 Cooper Foster Park Rd, Lorain, OH
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for rent, 4500 square feet.
      4501 North Leavitt Road, Lorain, OH, 44053
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      5350 N Leavitt Rd, Lorain, OH 44053
      View Details
    • Contact for pricing

      Lorain Warehouse Space Available

      Warehouse space available for rent in Lorain, Ohio.
      1901 Henderson Drive, Lorain, OH, 44052
      View Details
    • Contact for pricing

      Lorain-Elyria Retail Corridor Space

      Retail spaces available in Sheffield Center Plaza, Lorain, OH.
      120-400 Sheffield Ctr, Lorain, OH
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in a high-profile, grocery-anchored shopping center.
    Where is this shopping center located?
    The property is located at 3221 Oberlin Avenue Lorain, OH.
    What are key features of this property?
    This property features: Grocery anchored center; High profile intersection of Oberlin & Meister; Located in close proximity to Lighthouse Village, anchored by Walmart, Kohls, Home Depot
    (216) 658-6120
    We can help!
    Listing Contact
    Joseph Khouri
    Joseph Khouri
    Real Estate License ID: 2008000837
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!