3330 Liberty AveVermilion, OH 44089

Property Details for 3330 Liberty Ave

Lot size

8.05 AC

Property size (Sq ft)

13,050 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

01-00-004-109-006

APU

100004109006

Description

This exceptional 13,050-square-foot mixed-use building sits on a sprawling 8.05-acre lot in Vermilion, Ohio, a prime lakeside location. Currently operating as a thriving, established event center with a 40-year history, this turnkey property offers immense versatility. The existing structure comfortably accommodates over 700 guests and includes a full commercial kitchen, a valid liquor license, and all necessary equipment and supplies. Recent upgrades include a new roof (2023) and a new freezer (2023). Ample parking is available for 300+ vehicles, with additional space on the property for expansion or the addition of another business. A knockout wall in the rear facilitates potential expansion. The property's location near major highways ensures easy accessibility. Its potential uses are diverse, including but not limited to: brewery, restaurant, sports bar, condominiums, apartments, nursing home, manufacturing facility, or private club. Vermilion's designation as one of Ohio's best lakefront cities, coupled with its potential for business development, makes this a truly unique investment opportunity. Priced at $1,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,451,110

  6.5%

  $3,185,640

  7%

  $2,958,094

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,076,156

  Geo Method

  $3,076,156

• Alternative Use

  Use

  Valuation

  Residential

  $2,687,206

  Hospitality

  $2,461,467

  Educational

  $2,047,912

  Medical

  $2,118,342

  Retail

  $3,185,640

Location Insight

City

Vermilion

County

Lorain

State

Ohio

Latitude

41.4259

Longitude

-82.3127

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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