Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    916 Broadway Ave Lorain, OH 44052

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    916 Broadway Ave Lorain, OH 44052

    View on Map
    • Retail properties & Spaces
    • 3,550 SF
    • 0.08 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 916 Broadway Ave

    Year built
    1940
    Lot size
    0.08 lot acres
    Property size
    3,550 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional 3,550 square foot storefront, located at 916 Broadway Avenue in Lorain, Ohio, presents a compelling investment opportunity. Situated on a 0.075-acre lot (APN 0201003120020), this single-story, Class B building boasts a prime location on Broadway Avenue. Built in 1940, the property is zoned MU and offers a single tenancy. Ideal for both owner-occupancy and rental income generation, this versatile space is perfect for a variety of retail or office uses. The property's substantial size provides ample room for a wide range of business ventures. Its prominent Broadway Avenue address ensures high visibility and accessibility, attracting significant foot traffic. The asking price is $375,000. This is a rare chance to acquire a well-positioned commercial property in a thriving Ohio community. Don't miss this chance to secure a strong investment in a high-traffic area. The property's single-story design and ample square footage offer flexibility and potential for customization to suit specific business needs. Its location in Lorain, Ohio, provides access to a robust local market and convenient transportation links.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.173
    Latitude
    41.4628

    Comparable in this City

    • Value Estimation by Request
      38,556 SF

      1600-1604 Kansas Ave

      Individual retail properties • 38,556 SF
      1600-1604 Kansas Ave, Lorain, OH 44052
      View Details
    • Value Estimation by Request

      916 Broadway Ave

      Retail properties & Spaces
      916 Broadway Ave, Lorain, OH 44052
      View Details
    • Value Estimation by Request
      1,040 SF

      912 9th St

      RETAIL STORES (PERSONAL SERVICES) • 1,040 SF
      912 9th St, Lorain, OH 44052-1921
      View Details
    • Value Estimation by Request
      3,230 SF

      1833 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 3,230 SF
      1833 Broadway, Lorain, OH 44052-3624
      View Details
    • Value Estimation by Request
      1,456 SF

      824 Erie Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,456 SF
      824 Erie Ave, Lorain, OH 44052-2139
      View Details
    • Value Estimation by Request
      3,880 SF

      1376 Long Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,880 SF
      1376 Long Ave, Lorain, OH 44052-3551
      View Details

    Similar Nearby for Sale

    • $140,000
      0.15 Acres

      Lorain Mixed-Use Landmark Building

      Mixed-use building with retail and residential income potential.
      1605 Broadway, Lorain, OH 44052
      View Details
    • $325,000
      11,062 SF

      Downtown Lorain Mixed-Use Opportunity

      Revitalized downtown location suitable for culinary, retail, office, or mixed-use.
      422 Broadway Ave, Lorain, OH 44052
      View Details
    • $1,700,000
      35,559 SF

      Lorain Industrial/Office Development Opportunity

      35,559 SF main building and 2,977 SF bank building for sale.
      1600 Kansas Ave, Lorain, OH 44052
      View Details
    • Contact for pricing

      Prime Retail Land Opportunity

      8.36 acres available for sale or ground lease.
      Colorado Ave, Lorain, OH 44052
      View Details
    • $300,000
      Pending

      Versatile Commercial Property For Sale

      Adaptable 5,000 sq ft commercial property with loading bay.
      1801 Elyria Ave, Lorain, OH 44052
      View Details
    • $49,900
      1,980 SF

      Lorain Retail Space For Sale

      Retail space available in Lorain, Ohio.
      2353 Livingston Ave, Lorain, OH 44052
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      436 SF

      Downtown Lorain Retail Storefront

      Prime retail space suitable for various business ventures.
      506 Broadway, Lorain, OH 44052
      View Details
    • $1,295 /Mo
      2,614 SF

      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
      675 SF

      Retail Space in Lorain, OH

      Retail spaces available in grocery-anchored shopping center.
      1115 Meister Rd, Lorain, OH 44052
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space in Grocery Anchored Center

      Retail spaces available in high-traffic, grocery-anchored shopping center.
      1111 Meister Rd, 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 Rd, Lorain, OH 44052
      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 Ave, Lorain, OH 44052
      View Details
    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.
    916 Broadway Ave
    Lorain, OH 44052
    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!