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Downtown Professional Office Building
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520 Broadway, Lorain, OH 44052

Well-maintained office building in a prime downtown location.

Property Size15,000 SF
Price / SF$53.33
Days on Market106

Property Features for 520 Broadway

General Information

Standard status Active
Size 15,000 SF
Property subtype Office

Building Details

Year Built 1920
Listing Agency: Coldwell Banker Commercial Schmidt Realty North Ridgeville
Listed By: Michele Frederick · License #OH
Source: Crexi
Added: May 16 Changed: Aug 8 Last Checked: Aug 29 at 1:19PM

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 Coldwell Banker Commercial Schmidt Realty North Ridgeville

Investment Insights

Based on property information with market context.

This exceptionally well-maintained, three-story professional office building is situated in a prime downtown location at the center of the city's revitalization and entertainment district. The prestigious building, approximately 15,000 square feet, is nearly fully occupied with only approximately 500 square feet currently available. Positioned on a highly visible, busy street, the property offers accessibility and exposure in the heart of downtown activity and city celebrations. It is located steps from the Port Authority and within walking distance to the lake. The building is surrounded by ongoing redevelopment and upscale entertainment venues. Features include a beautiful exterior, excellent street-front signage visibility, elevator access with the ability to lock off individual floors, two stairwells, and a full basement for additional utility and storage. The lobby has been tastefully upgraded with tile accents. Each floor includes two restrooms, and the spacious office suites offer flexibility for a variety of business uses. Current occupants include established attorneys, insurance professionals, and property management. The upper two floors offer flexible occupancy options for potential owner-users or investors, while the first floor remains leased with stable tenancy in place. Additional improvements include a newer roof, updated air conditioning systems, elevator updates, and abundant windows providing excellent natural light throughout. Access to the newly beautified rear alley further enhances convenience and appeal. This presents an exceptional opportunity for investors, owner-users, or those seeking a prestigious downtown presence with endless possibilities for future growth and subdivision potential.

Key Highlights

  • Prime downtown location in the city's revitalization and entertainment district, offering unmatched accessibility and exposure.
  • Exceptionally well‑maintained 3‑story professional office building with pride of ownership evident throughout.
  • Nearly fully occupied with stable tenancy, including established professionals, providing immediate income potential.

Property Analytics

Current Use

Riley, Resar & Associates, ... Law Firm FireFish Arts Theater & Performing Art Venue LaVeck Law, LLC Law Firm Lorain County Democratic ... Corporate Office The Liberty Company Insurance ... Insurance Agency

Suggested Use

Top Pick Real Estate Agency Dental Office Skin Care Clinic Electrical Service Pharmacy Spa & Massage Center

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

507
Businesses Nearby

Demographics for 44052, OH

29,249
Population
13,673
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
83%
High-School Grad
9.5 sq mi
ZIP Area
3,079
Density / Sq Mi
$42,298
Median Household Income
$31,985
Median Earnings
$840
Median Rent
$104,000
Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025
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Frequently Asked Questions

What type of property is this?
Office building - Well-maintained office building in a prime downtown location.
Where is this office building located?
The property is located at 520 Broadway Lorain, OH.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Prime downtown location in the city's revitalization and entertainment district, offering unmatched accessibility and exposure.; Exceptionally well‑maintained 3‑story professional office building with pride of ownership evident throughout.; Nearly fully occupied with stable tenancy, including established professionals, providing immediate income potential.
More about this property
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