2325 Broadway, Lorain, OH 44052

$350,000
10,128
SqFt
List Price
$350,000
Status
ACTIVE
MLS#
YES-MLS-4195442
Year Built
1900
Living Area
10,128
Region
Lorain

Property Description

Exceptional Investment Opportunity with a leased (Fully Occupied), high traffic, recently updated/remodeled large commercial building with 35+ car parking that is currently leased as a child daycare with profitable lease terms that will fit your investment needs/requirements. This building comes with an escalating 5 year (2 years into lease currently) triple net lease with 5 year escalating option: $3500 per month on current 5 year lease of which the tenant is 2 years in, at year 5 the current tenant has a 5 year additional option at $4000 per month. Current Tenant is responsible for all maintenance other than roof & parking lot...Which makes it easy for out of state investors. The building itself has many recent updates that include 3 new 10 ton roof A/C units, plumbing, electrical, ceilings, floors, baths updates, paint & roof is approx 5 years old. Endless possibilities with multiple entrances/exits, multiple baths, kitchen, office & more. Located in a prime location of a redeveloped area with easy access to highways, shopping, the lake, in the middle of the city festivals & entertainment district. In the future the building could be developed into multiple retail fronts. Call today for details and private viewings...

Additional Information

Taxes
$8,982
Acres
0.52
Sewer
Public Sewer
Roof
Asphalt, Fiberglass, Rubber
Water
Public
Heating
Gas, Other
Cooling
Central Air

Mortgage Calculator

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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Coldwell Banker Schmidt Realty.

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