717 Erie Ave Lorain, OH 44052-2136

This fee-simple, single-tenant, absolute NNN investment property presents a compelling opportunity. The 1,530 square foot Mr. Hero restaurant, located at 717 E Erie Ave in Lorain, OH 44052, sits on a 0.24-acre lot and boasts a 7.50% cap rate with a NOI of $42,695. The property, built in 1972, benefits from a long-term lease with Mr. Hero, commencing April 1, 2010, and expiring March 31, 2030, leaving 5.4 years remaining. The lease includes rent bumps, providing a hedge against inflation. The property enjoys excellent visibility on a major commercial corridor (US Route 6), with approximately 10,000 vehicles passing daily. Its strategic location near Lake Erie, marinas, beaches, and a large US Steel facility ensures high traffic and a robust consumer base. The surrounding area features dense residential neighborhoods and numerous other retail establishments, including Save-A-Lot, Key Food, and several national chains. The property's strong demographics, with over 44,300 people within a 3-mile radius and an average household income exceeding $68,864, further enhance its investment potential. This is a truly passive investment opportunity with zero landlord responsibilities. The tenant is responsible for all maintenance and repairs. This is a 100% occupied property offering a secure and profitable investment.