1641 Root RdLorain, OH 44052

Property Details for 1641 Root Rd

Year built

1900

Lot size

16.10 AC

Property type

Mixed-use properties

Description

This exceptional 16.1-acre mixed-use property in Lorain, Ohio, presents a unique investment opportunity. The site boasts three parcels with significant frontage on Root Road, offering excellent visibility and accessibility. Currently featuring a residential dwelling with an attached apartment, the property's true value lies in its expansive land and strategic location. Situated near Lake Erie and directly across from a new racing car facility under construction, this area is experiencing significant growth and development. The property's proximity to I-90 ensures convenient access to major transportation routes. Existing infrastructure includes gas and water wells, a substantial holding pond, and a French drain system for efficient water management. The property is wooded, providing a natural and attractive setting. All mineral rights are included in the sale. The existing residential structures serve as a bonus, adding immediate potential for rental income or future redevelopment. This is an ideal location for a hotel/restaurant complex, with ample space for complementary boutique shops and recreational amenities. The seller is open to the possibility of additional land acquisition, making this an unparalleled opportunity to capitalize on the burgeoning development in this promising area. The asking price is $1,300,000.

Location Insight

City

Lorain

County

Lorain

State

Ohio

Latitude

41.4658

Longitude

-82.1319

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