21280 Lorain Rd
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21280 Lorain Rd
926 SF Retail Building Fairview Park, OH 44126 $534,291 CAD ($577 CAD/SF) 6.32% Cap Rate
Investment Highlights
- Great daytime foot and vehicle traffic
- Approved outdoor seating -- perfect for takeout quick service restaurant
- Fully renovated turnkey building
Executive Summary
Recently renovated (2017) free standing building with parking lot within prime section of Lorain Road in "downtown" Fairview Park. Located directly across the street from Cuyahoga County Public Library and Fairview Park High School. Building is currently used for food service and is licensed by the Cuyahoga County Board of Health. Perfect opportunity for a takeout restaurant concept or any retail use. Occupying business is NOT for sale. Please do not approach employees of current business. Business is looking for a larger location within Fairview Park. A deed restriction will accompany the sale restricting the retail use of Shaved Ice and Snow Cones business operations for a period of six years.
2017 Renovations:
-Exterior of building finished in rustic reclaimed Ohio barn-wood.
-Exterior seating area established and permitted by the City of Fairview Park
-Interior stripped down to the cinder blocks and reframed / drywalled
-One Unisex ADA bathroom
- New 3 ton HVAC system and all duct work
-New 200 amp electrical panel including all new wiring
-New 50 gallon commercial hot water tank
-New Pella windows and commercial entry doors
-New plumbing throughout
-Parking lot resealed every 2 years with last sealing done in 2021
Truly turnkey for many different business ventures!
2017 Renovations:
-Exterior of building finished in rustic reclaimed Ohio barn-wood.
-Exterior seating area established and permitted by the City of Fairview Park
-Interior stripped down to the cinder blocks and reframed / drywalled
-One Unisex ADA bathroom
- New 3 ton HVAC system and all duct work
-New 200 amp electrical panel including all new wiring
-New 50 gallon commercial hot water tank
-New Pella windows and commercial entry doors
-New plumbing throughout
-Parking lot resealed every 2 years with last sealing done in 2021
Truly turnkey for many different business ventures!
Financial Summary (Actual - 2021) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$33,754
|
$36.45
|
Financial Summary (Actual - 2021)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $33,754 |
| Annual Per SF | $36.45 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
926 SF
Building Class
C
Year Built/Renovated
1952/2017
Price
$534,291 CAD
Price Per SF
$577 CAD
Cap Rate
6.32%
NOI
$33,754 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Land Acres
0.19 AC
Zoning
General Business - General Business
Parking
13 Spaces (14.04 Spaces per 1,000 SF Leased)
Frontage
110 ft on Lorain Road
Amenities
- Air Conditioning
Walk Score ®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 321-02-016 | Improvements Assessment | $21,124 CAD (2022) |
| Land Assessment | $25,456 CAD (2022) | Total Assessment | $46,566 CAD (2022) |
PROPERTY TAXES
Parcel Number
321-02-016
Land Assessment
$25,456 CAD (2022)
Improvements Assessment
$21,124 CAD (2022)
Total Assessment
$46,566 CAD (2022)
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John Tillery -
Russell Real Estate Services
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21280 Lorain Rd
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