2222 Fairless Dr Lorain, OH 44055

This exceptional investment opportunity presents a 45,140 square foot, single-story shopping center located at 2222 Fairless Dr, Lorain, OH 44055. Built in 1966, this grocery-anchored property sits on a 2.97-acre lot and boasts 96% occupancy with four tenants. The asking price is $1,600,000, representing a compelling price per square foot of $35.45 and a strong 10.04% capitalization rate, with a current NOI of $160,560. The property benefits from a weighted average lease term (WALT) of approximately 3.75 years, providing significant lease stability. Current rents are significantly below market rates ($6/SF vs. $10.81/SF), offering substantial upside potential for future income growth. The property's location within a densely populated area (136,939 people within a 5-mile radius, exhibiting 10-year growth) ensures consistent customer traffic and strong tenant demand. This is a fully stabilized, low-risk investment with immediate cash flow and significant potential for appreciation, offering a substantial discount to replacement cost, mitigating the risks associated with new retail development. The property's strong fundamentals and favorable market conditions make it an ideal addition to any investment portfolio.