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    2901 Liberty Ave Vermilion, OH 44089

    • Grocery and convenience stores
    • 17,685 SF
    • 2.62 lot acres
    For Sale
    View listing
    $2,250,000
    Value Estimation
    Last Sale
    Aug 20, 2020
    $1,000,000
    Location Intelligence
    Property ID
    US66-0718617
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Vermilion Farm Market / Grocery Store

    Property Details for 2901 Liberty Ave

    Year built
    1995
    Lot size
    2.62 lot acres
    Property size
    17,685 SF
    Property type
    Grocery and convenience stores
    APN
    01-00-005-104-098
    APU
    100005104098

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,275,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,125,000
      6.5%
      $975,000
      7%
      $970,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $835,000
      Geo Method
      $1,085,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,115,000
      Retail
      $1,000,000
      Mixed-Use
      $1,030,000
      Hospitality
      $830,000
      Educational
      $850,000
      Residential Income
      $1,025,000
      Energy
      $945,000
      Income-Based Land
      $1,060,000
      Food Service
      $915,000

    Location Insight

    • Map
    • Local Demand
    City
    Vermilion
    County
    Lorain
    State
    Ohio
    Longitude
    -82.3032
    Latitude
    41.4243
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $27,206
    $30,170
    $300,472
    $330,642
    -
    $86,200
    $858,490
    $944,690

    Comparable in this City

    • Value Estimation
      $250,000
      5,504 SF

      4303 State Rd

      CONVENIENCE STORE • 5,504 SF
      4303 State Rd, Vermilion, OH 44089-9139
      View Details
    • Value Estimation
      $175,000
      1,232 SF

      5415 Liberty Ave

      CONVENIENCE STORE • 1,232 SF
      5415 Liberty Ave, Vermilion, OH 44089-1333
      View Details
    • Value Estimation
      $295,000
      3,344 SF

      1317 State St

      CONVENIENCE STORE • 3,344 SF
      1317 State St, Vermilion, OH 44089-1230
      View Details
    • Value Estimation
      $65,000
      1,250 SF

      5571 Liberty Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,250 SF
      5571 Liberty Ave, Vermilion, OH 44089-1309
      View Details
    • Value Estimation by Request
      3,040 SF

      2951 Liberty Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,040 SF
      2951 Liberty Ave, Vermilion, OH 44089-2534
      View Details
    • Value Estimation by Request
      14,488 SF

      5359 Liberty Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,488 SF
      5359 Liberty Ave, Vermilion, OH 44089-1331
      View Details

    Similar Nearby for Sale

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      Vermilion Retail Investment Opportunity

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      Vermilion Automotive Buildings For Sale

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      Retail Property Near New Development

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      Vermilion Freestanding Drive-Thru Restaurant

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    Similar Nearby for Lease

    • Contact for pricing
      6,450 SF

      Vermilion Retail Space with Basement

      6,450 SF endcap retail space with ample parking.
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      View Details
    • Contact for pricing
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      Vermilion Retail/Office/Showroom Space Available

      High-traffic retail/office/showroom space with signage available in Vermilion, OH.
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      View Details
    • Contact for pricing
      105,911 SF

      Vermilion Executive Office Suites

      Prime Vermilion location, flexible office space.
      4705 Liberty Ave, Vermilion, OH 44089
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    • $1,300,000
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      Vermilion Freestanding Building on Liberty

      Freestanding 11,724 SF building on 1.64 acres for sale/lease.
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    • $11 SF/Yr
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      Retail Space Available For Rent

      Inline retail space available in high-traffic area.
      4620-4686 Liberty Ave, Vermilion, OH 44089
      View Details
    • $16 SF/Yr
      1,261 SF

      Retail Suites in Portland Plaza

      Retail suites available in Portland Plaza with 11' ceilings.
      4486-4496 Liberty Ave, Vermilion, OH 44089
      View Details
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    2901 Liberty Ave
    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
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