4940 Oberlin AveLorain, OH 44053

Property Details for 4940 Oberlin Ave

Lot size

0.26 AC

Property type

Other commercial real estate

Description

This exceptional all-brick commercial property, located at 4940 Oberlin Avenue in Lorain, Ohio, presents a fantastic investment opportunity. Situated on a 0.26-acre lot, the building boasts numerous recent improvements, ensuring both functionality and longevity. The structure is currently utilized as a childcare center, with a month-to-month tenant responsible for utilities (water, electric, heat) and a portion of the trash removal costs. The owner maintains lawn care. The current tenant expresses a desire to remain, offering immediate cash flow potential. However, the building's versatility allows for a wide range of alternative uses, making it an attractive option for various businesses. Significant upgrades include replacement windows, a new furnace (installed 3-4 years ago), a roof replacement (8 years ago), a hot water tank replacement (5 years ago), footer tiles around the entire perimeter (installed 15 years ago), and concrete work completed 15 years ago. The lower level is fully finished, featuring two convenient access points, multiple restrooms, and a mini-kitchenette, adding significant value and flexibility to the space. The asking price is $260,000. This property offers a compelling blend of immediate income potential and long-term growth prospects.

Location Insight

City

Lorain

County

Lorain

State

Ohio

Latitude

41.4241

Longitude

-82.186

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