Property summary
This exceptional 4,590 square foot commercial building presents a unique investment opportunity in the thriving city of Lorain, Ohio. Situated on a 0.17-acre lot at 321 Colorado Avenue, this property boasts an unparalleled location directly across from the Black River and Harborwalk riverfront residential development. Its prime position offers unparalleled access to the scenic beauty of the river and Lake Erie, as well as the vibrant energy of downtown Lorain. Within walking distance, you'll find a diverse array of amenities including restaurants, parks, shopping, and a theater, ensuring a high level of foot traffic and potential customer base. The building's existing structure provides a solid foundation for a variety of commercial ventures, allowing for creative redevelopment and adaptation to suit diverse business needs. This is an ideal opportunity for savvy developers and investors seeking to capitalize on the revitalization of Lorain's waterfront and its burgeoning economic growth. The strategic location, combined with the building's size and potential, makes this property a truly exceptional investment prospect in a rapidly developing area. The proximity to residential areas, recreational spaces, and the city center ensures high visibility and accessibility for any business. This is a chance to be part of a dynamic and growing community, contributing to its continued success while securing a strong return on investment. Don't miss this chance to acquire a piece of Lorain's exciting future.
Property profile
VerifiedCap rate & NOI
Current use
-
Church
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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