Property profile

321 Colorado Ave Lorain, OH 44052

OFF-MARKET
Commercial real estate
Property ID
US66-1377627
4,590 SF 0.17 ac lot Built 1948
Entity Owned Free & Clear
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Property summary

AI-generated overview

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

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1948
Total area 4,590 SF
Lot 0.17 ac (7,405 SF)
APN 02-01-002-108-008
UPID US66-1377627

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
  • Church

Location

321 Colorado Ave Lorain, OH 44052-2015
Lorain metro Census 22200 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$255k

Owner & transaction history

since 2025
4 recorded transactions
2025
$10,000
2019
$10,000
2019
$6,500
2007
$150,000

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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