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    2901 Liberty Ave Vermilion, OH 44089

    Sponsored
    For Sale
    $2,250,000

    High-Yield Grocery/Pharmacy Complex

    Property size:
    25,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail investment property, located at 2901 Liberty Ave in Vermilion, Ohio, presents a compelling opportunity. The 25,000 square foot, single-story building, constructed in 1995, houses a grocery store, pharmacy, and quick-service restaurant, operating under a single, absolute NNN lease with 20 years remaining. The property boasts 100% occupancy and a strong net operating income (NOI) of $180,000, translating to an attractive 8.00% cap rate. The lease includes annual rent bumps of 1.50%, ensuring consistent growth and predictable cash flow. This core+ investment is strategically positioned adjacent to a new 700-home development, promising increased foot traffic and demand. The surrounding area exhibits high average household income ($92,484 within a 5-mile radius), indicating a robust and stable market. This is a rare opportunity to acquire a well-established, high-performing retail property with significant long-term potential. The property is situated in Lorain County, Ohio, zip code 44089.

    Property Features for 2901 Liberty Ave

    General Information

    Property type
    Restaurants
    Square Feet
    25,000 SF

    Building Details

    Year Built
    1995
    Buildings
    1
    Stories
    1

    HighLights

    • Long‑Term Lease: Provides secure, stable investment.
    • Absolute NNN Lease: Passive income with no landlord responsibilities.
    • Annual Rent Increases: Predictable cash flow growth.
    • Prime Location: Adjacent to a new 700‑home development.
    • High Average Household Income: $92,484 within a 5‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Vermilion Farm Market Grocery Store

    Suggested Use

    Restaurant Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Vermilion
    County
    Lorain
    State
    Ohio
    Longitude
    -82.3031992
    Latitude
    41.424349

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    FAQs

    What type of property is this?
    Restaurant - High-Yield Grocery/Pharmacy Complex
    Where is this restaurant located?
    The property is located at 2901 Liberty Ave Vermilion, OH.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: Long-Term Lease: Provides secure, stable investment.; Absolute NNN Lease: Passive income with no landlord responsibilities.; Annual Rent Increases: Predictable cash flow growth.
    Request Owner's contact information
    2901 Liberty Ave Vermilion, OH 44089
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    Vermilion, OH 44089
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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
    2901 Liberty Ave Vermilion, OH 44089
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