2901 Liberty AveVermilion, OH 44089

Property Details for 2901 Liberty Ave

Year built

1995

Lot size

2.62 AC

Property size (Sq ft)

17,685 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

01-00-005-104-098

APU

100005104098

Description

This exceptional retail investment property, located at 2901 Liberty Ave in Vermilion, Ohio, presents a compelling opportunity. The 25,000 square foot, single-story building, constructed in 1995, houses a grocery store, pharmacy, and quick-service restaurant, operating under a single, absolute NNN lease with 20 years remaining. The property boasts 100% occupancy and a strong net operating income (NOI) of $180,000, translating to an attractive 8.00% cap rate. The lease includes annual rent bumps of 1.50%, ensuring consistent growth and predictable cash flow. This core+ investment is strategically positioned adjacent to a new 700-home development, promising increased foot traffic and demand. The surrounding area exhibits high average household income ($92,484 within a 5-mile radius), indicating a robust and stable market. This is a rare opportunity to acquire a well-established, high-performing retail property with significant long-term potential. The property is situated in Lorain County, Ohio, zip code 44089.

• CAP approach

  CAP return

  Valuation

  6%

  $4,676,849

  6.5%

  $4,317,092

  7%

  $4,008,728

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,168,722

  Geo Method

  $4,168,722

• Alternative Use

  Use

  Valuation

  Residential

  $3,641,628

  Hospitality

  $3,335,712

  Educational

  $2,775,273

  Medical

  $2,870,719

  Retail

  $4,317,092

Location Insight

City

Vermilion

County

Lorain

State

Ohio

Latitude

41.4243

Longitude

-82.3032

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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