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Property profile & analytics
OFF-MARKET Estimated value $2,000,000
Retail space

2709 Broadway Lorain, OH 44052-4835

11,208 SF 0.17 ac lot Built 1996
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US66-2405911
Property summary
AI-generated overview

This exceptional freestanding retail property, located at 2709 Broadway Avenue in Lorain County, Ohio, offers 11,208 square feet of versatile space. Previously occupied by a Rite Aid, this single-tenant building sits on a 1.06-acre lot and presents a significant opportunity for a variety of retail businesses. The property boasts a brand-new roof (installed in 2023) and three recently installed HVAC units, ensuring efficient and cost-effective operation. Its prime location benefits from exceptional visibility and high traffic volume, with combined daily traffic counts of 20,904 vehicles per day at the nearby intersections of Broadway Avenue and East 28th Street. This strategic location places the property in close proximity to a thriving retail corridor, alongside established businesses such as Walgreens, Dairy Mart, AutoZone, Rent-A-Center, Advanced Auto Parts, and Little Caesars Pizza, creating a strong synergy and attracting a substantial customer base. The property is zoned General Commercial (B-2), offering flexibility for a range of retail uses. This turnkey opportunity combines a desirable location, modern building systems, and ample space, making it an ideal investment for discerning buyers seeking a high-traffic retail presence in a well-established commercial area. The property's size and location make it suitable for a variety of retail concepts.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1996
Total area 11,208 SF
Lot 0.17 ac (7,405 SF)
APN 02-01-003-195-010
UPID US66-2405911
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • higi Physician
  • Steven A. Lindsey Sr, RPH Pharmacy
  • Rite Aid Pharmacy
  • Rite Aid Pharmacy Pharmacy
  • Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.16M
CAP Approach CAP
$1.74M
Comparable Approach Comparable
$1.54M
Blend (final) Blend
$2.00M
Owner & transaction history
2709 Broadway LLC · 4 yrs held
2709 Broadway LLC
since 2022
Last sale
$2.7M
4 recorded transactions
2022
$2.7M
2019
Price N/A
2014
$2.2M
2007
$2.4M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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