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    37040 Colorado Ave Avon, OH 44011

    Sponsored
    For Sale
    $450,000

    Profitable Avon Office, 100% Occupancy

    Property size:
    1,746 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional two-story, Class B creative office building in Avon, Ohio, presents a compelling investment opportunity. The 1,746 square foot property, situated on a 0.13-acre lot at 37040 Colorado Ave (APN 04-00-010-111-031), boasts seven parking spaces and is currently 100% occupied by five tenants under annual gross leases. The building underwent extensive renovations in 2017 (complete remodel), 2021 (siding, gutters, chimney), and 2023 (drainage), encompassing HVAC upgrades (including ductwork and hot water tank), window replacements, electrical work, and insulation improvements. The property features a handicap-accessible ramp. With a strong NOI of $22,350 and a 4.97% cap rate, this asset offers a stable income stream and significant potential for future growth. The asking price is $450,000 ($257.73/sq ft). The building's prime Avon location and consistently high occupancy, including a waiting list for available space, make this a truly exceptional investment. The occupancy date is December 1, 2016.

    Property Features for 37040 Colorado Ave

    General Information

    Property type
    Office space
    Square Feet
    1,746 SF
    Class
    B
    Lot Size
    5,663 SF

    Building Details

    Buildings
    1
    Stories
    2

    HighLights

    • Class B, two‑story creative office building, 1,746 sq ft, Avon, OH.
    • Located on a 0.13‑acre lot at 37040 Colorado Ave (APN 04‑00‑010‑111‑031), with seven parking spaces.
    • 100% occupied with five tenants under annual gross leases; extensive renovations completed in 2017, 2021, and 2023.
    • Strong NOI of $22,350 and a 4.97% cap rate; asking price $450,000 ($257.73/sq ft).
    • High occupancy with a waiting list.
    Property Profile Location Intelligence

    Current Use by Public Records

    26Made Video Editing Service Bremke Law, LLC Attorney Downs Legal Services, ... Criminal Justice Attorney Preferred Care at Home ... Home Health Care Service

    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
    Avon
    County
    Lorain
    State
    Ohio
    Longitude
    -82.0352222
    Latitude
    41.4522917

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    FAQs

    What type of property is this?
    Office space - Profitable Avon Office, 100% Occupancy
    Where is this office space located?
    The property is located at 37040 Colorado Ave Avon, OH.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Class B, two-story creative office building, 1,746 sq ft, Avon, OH.; Located on a 0.13-acre lot at 37040 Colorado Ave (APN 04-00-010-111-031), with seven parking spaces.; 100% occupied with five tenants under annual gross leases; extensive renovations completed in 2017, 2021, and 2023.
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    37040 Colorado Ave Avon, OH 44011
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    Avon, OH 44011
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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
    37040 Colorado Ave Avon, OH 44011
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