2104 28Th StLorain, OH 44055

Property Details for 2104 28Th St

Year built

1960

Lot size

0.14 AC

Property size (Sq ft)

1,100 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

03-00-085-104-002

APU

300085104002

Description

This exceptional investment opportunity in Lorain, Ohio presents a versatile 2,200 square foot mixed-use property situated on a 0.14-acre lot at 2104 E 28th Street. Built in 1930, this two-story building offers immense potential for various business ventures. Previously operating as a restaurant and bar, the main level is adaptable for retail, office, or other commercial uses. The upper level, a spacious apartment, provides additional income potential. While requiring some updates, the property boasts a solid foundation, a flat rubber roof, and a full, unfinished basement, allowing for expansion. The lot includes parking for two vehicles. Zoned for mixed-use, this property offers the unique opportunity to combine business operations with residential living or generate income from both spaces. Annual property taxes are $820. Conveniently located in the Sheffield Land Co subdivision, the property benefits from easy access to public transportation and local amenities. This property represents a strong investment opportunity in a desirable Lorain location.

• CAP approach

  CAP return

  Valuation

  6%

  $197,890

  6.5%

  $182,668

  7%

  $169,620

• Comparable approach

  Method

  Valuation

  Relative Method

  $102,894

  Geo Method

  $102,894

• Alternative Use

  Use

  Valuation

  Residential

  $226,508

  Hospitality

  $207,480

  Educational

  $172,621

  Medical

  $178,558

  Retail

  $268,521

Location Insight

City

Lorain

County

Lorain

State

Ohio

Latitude

41.4454

Longitude

-82.1235

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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