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Property profile & analytics
FOR SALE
Retail space

2853 Grove Ave Lorain, OH 44055

11,312 SF 0.11 ac lot Built 1998
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US66-2377046
Property summary
AI-generated overview

This exceptional 11,312-square-foot retail property, located at 2853 Grove Avenue in Lorain, Ohio, presents a significant opportunity for businesses seeking a prominent location. Built in 1998, the single-tenant building sits on a 0.12-acre lot and offers ample space for a variety of retail ventures. The entire 11,312 square feet is currently vacant, providing a blank canvas for a new tenant to customize the space to their specific needs. The property's location in Lorain County, Ohio, offers excellent access to local clientele and convenient transportation links. The property's address is 2853 Grove Ave, Lorain, OH 44055. This is a single-tenant commercial property, ideal for a business seeking a substantial footprint in a thriving community. The property is ready for immediate occupancy, allowing for a swift and efficient start to operations. The year built is 1998, indicating a structure that has likely undergone regular maintenance. This presents a significant opportunity for a business to establish a strong presence in a well-located retail space. The property's size and location make it an attractive option for a variety of retail uses. Serious inquiries are encouraged to explore this exceptional opportunity further.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1998
Total area 11,312 SF
Lot 0.11 ac (4,792 SF)
APN 03-00-083-105-001
UPID US66-2377046
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
  • Ashley J. Kenzik, PharmD Pharmacy
  • Neil Messerly, RPH Pharmacy
  • Rite Aid Pharmacy
  • Rite Aid Photo (Bike/Boat/Book/etc) Store
  • Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.89M
CAP Approach CAP
$1.75M
Comparable Approach Comparable
$1.12M
Blend (final) Blend
$1.81M
Owner & transaction history
Ritcoh LLC · 3 yrs held
Ritcoh LLC
since 2022
Last sale
$2.3M
3 recorded transactions
2022
$2.3M
2020
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units) $1.2M +74.6%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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