Technical
Financial
Distress signals
Property profile

1534 28th St Lorain, OH 44055

OFF-MARKET
Retail space
Property ID
US66-1866738
5,148 SF 0.28 ac lot Built 1950
Entity Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property in Lorain, Ohio, presents a unique investment opportunity. Located at 1534 E 28th Street, this 0.56-acre lot features a retail building with a fully operational auto body shop and a separate apartment. The auto body shop boasts a grandfathered-in custom spray/paint room, compliant with city, county, and EPA standards, a feature difficult to replicate today. This room is insulated, custom-built, and ventilated for professional use, and includes a recently updated paint mixing system with software and hardware, connected to a supplier for convenient refills. The shop also includes a frame straightening machine and other equipment, an office space, an open floor plan shop area with multiple large door entries, and is situated on three parcels, allowing for potential expansion. Adding to its versatility, a large one-bedroom, one-bathroom apartment is located above the shop, offering on-site living convenience or potential rental income. A detached garage is also included. The asking price is $240,000. This turnkey operation is ready for immediate use and offers significant income potential for a car enthusiast, experienced mechanic, or expanding business. The property's unique combination of retail space, auto body shop, and residential apartment makes it a truly exceptional investment opportunity.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1950
Total area 5,148 SF
Lot 0.28 ac (12,197 SF)
APN 03-00-097-103-011
UPID US66-1866738

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Renovation Specialist General Contractor

Location

1534 28th St Lorain, OH 44055-1606
Lorain metro Census 23100 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$210k

Owner & transaction history

since 2025
Last sale
$30,000
2 recorded transactions
2025
$30,000
2019
$20,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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