Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Commercial Land Opportunity Title is generated by Realmo AI

    3100 Cooper Foster Park Rd, Lorain, OH 44053

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Last Meijer outlot available for ground lease or build-to-suit.

    Type:Land
    Added:
    Nov 14, 2019
    Days on Market:
    2392
    Last Refresh:
    May 19 at 10:23 pm

    Property Features for 3100 Cooper Foster Park Rd

    General Information

    Standard status
    Active
    Property subtype
    Land

    Spaces For Lease

    at 3100 Cooper Foster Park Rd Contact us

    We can help!

    Listing Contact
    Jimmy DiFonzo
    Jimmy DiFonzo

    Listing agent Jimmy DiFonzo License #OH SAL2021003195

    Listing office Anchor Retail

    Listing date Nov 14, 2019

    Source Crexi

    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 Anchor Retail

    HighLights

    • Last Meijer Outlot Remaining
    • Excellent visibility and access to traffic signal
    • Ground lease or build‑to‑suit options available
    • 1/4 mile to highway interchange of SR‑2 and Leavitt Road
    • High‑traffic retail area
    • Close proximity to major retailers (Giant Eagle, ALDI, Michael’s, Walmart, Kohl’s, The Home Depot, Lowe’s, Target, Tractor Supply)

    Overview

    This commercial land is available for ground lease or build-to-suit. It offers excellent visibility and access to a traffic signal. The property is located approximately 1/4 mile from the highway interchange of SR-2 and Leavitt Road. The surrounding Lorain-Amherst trade area includes retailers such as Giant Eagle, ALDI, Michael’s, Walmart, Kohl’s, The Home Depot, Lowe’s, Target, and Tractor Supply.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.214359
    Latitude
    41.418872

    Nearby Similar for Lease

    • $1,295/Mo
      1,700 SF

      Versatile Commercial Space in Lorain

      Adaptable commercial space suitable for office, studio, or retail use.
      1757 Broadway, Lorain, OH 44052
      View Details
    • $2,000/Mo
      4,000 SF

      Downtown Lorain Retail Storefront

      Prime retail space suitable for various business ventures.
      506 Broadway, Lorain, OH 44052
      View Details
    • $3 SF/Yr
      81,640 SF

      Lorain Industrial Site For Lease

      81,640 SF industrial property with redevelopment potential in Lorain, OH.
      7451 Terminal Drive, Lorain, OH, 44053
      View Details
    • $3 SF/Yr
      60,000 SF

      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
      49,636 SF

      Former Grocery Store For Lease

      49,636 SF former grocery store available for lease.
      1051 Meister Road, Lorain, OH, 44052
      View Details
    • $1,925/Mo

      Commercial Land for Lease

      Commercial land available for lease in Lorain, Ohio.
      1760 Root Road, Lorain, OH 44052
      View Details
    • Contact for pricing
      2,490 SF

      Freestanding QSR with Drive-Thru

      2,490 SF former QSR with drive-thru and patio.
      5301 N Leavitt Rd, Lorain, OH 44053
      View Details
    • Contact for pricing
      20,765 SF

      Retail Space in Lorain, Ohio

      Retail space available in well-established shopping center on Route 57.
      2222 Fairless Drive, Lorain, OH, 44055
      View Details
    • Contact for pricing
      10,628 SF

      Retail Space in Grocery Anchored Center

      Retail space available in a high-profile, grocery-anchored shopping center.
      3221 Oberlin Avenue, Lorain, OH, 44053
      View Details
    • Contact for pricing
      4,588 SF

      Retail Space in Grocery Anchored Center

      Retail spaces available in high-traffic, grocery-anchored shopping center.
      3221-3311 Oberlin Ave, Lorain, OH
      View Details
    • Contact for pricing
      3,200 SF

      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
      9,000 SF

      Retail Space in Sheffield Center

      Retail spaces available in Lorain-Elyria retail corridor.
      105 Sheffield Ctr, Lorain, OH
      View Details

    FAQs

    What type of property is this?
    Commercial land - Last Meijer outlot available for ground lease or build-to-suit.
    Where is this commercial land located?
    The property is located at 3100 Cooper Foster Park Rd Lorain, OH.
    What are key features of this property?
    This property features: Last Meijer Outlot Remaining; Excellent visibility and access to traffic signal; Ground lease or build‑to‑suit options available
    (440) 364-5626 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jimmy DiFonzo
    Jimmy DiFonzo
    Real Estate License ID: OH SAL2021003195
    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

    Thank You for Inquiry
    3100 Cooper Foster Park Rd, Lorain, OH 44053
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!