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    Property profile & analytics

    1270 Colorado Ave Lorain, OH 44052-3314

    • Warehouses
    • 7,540 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimation
    $470,000
    Last Sale
    Feb 06, 2023
    $440,000
    Location Intelligence
    Property ID
    US66-5178415
    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

    • Warehouses

    Property Details for 1270 Colorado Ave

    Lot size
    0.53 lot acres
    Property size
    7,540 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    02-00-051-141-039
    APU
    200051141039

    Description

    This offering presents a strategic opportunity to acquire two vacant industrial buildings totaling 7,540 square feet situated on 2.72 acres in Lorain, Ohio. The main building at 1270 Colorado Avenue comprises 7,540 square feet of single-story space, featuring a 12-foot ceiling height and one drive-in. The property is zoned for Light Industrial use and benefits from its convenient location within five miles of I-90, near the intersection of Route 2 and I-80 (Ohio Turnpike), and situated between US 6 and OH SR 57. This location offers excellent access to major transportation arteries. Furthermore, the property is located within Lorain County Opportunity Zone 39093023000, potentially providing preferential tax treatment. The building is currently vacant, presenting a blank canvas for a new owner's vision. A 35-minute drive (23 miles) connects the property to Cleveland and Cleveland-Hopkins International Airport. The asking price for this building is $299,000. Note that this listing is for 1270 Colorado Avenue only

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $475,000

    • CAP approach

      CAP return
      Estimation
      6%
      $435,000
      6.5%
      $440,000
      7%
      $500,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $465,000
      Geo Method
      $495,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $440,000
      Retail
      $410,000
      Mixed-Use
      $415,000
      Hospitality
      $415,000
      Educational
      $375,000
      Residential Income
      $480,000
      Energy
      $400,000
      Income-Based Land
      $475,000
      Food Service
      $420,000

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.1594
    Latitude
    41.4653
    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
    $5,447
    $16,170
    $53,162
    $69,332
    -
    $46,200
    $151,890
    $198,090

    Comparable in this City

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      MINI-WAREHOUSE, STORAGE • 6,150 SF
      Rear Land Land, Lorain, OH 44052
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      3720 Broadway

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      1658 Broadway

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      224 Arizona Ave

      MINI-WAREHOUSE, STORAGE • 5,750 SF
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    1270 Colorado Ave
    Lorain, OH 44052-3314
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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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