1670 Cooper Foster Park RdLorain, OH 44053

Property Details for 1670 Cooper Foster Park Rd

Year built

1980

Lot size

0.48 AC

Property size (Sq ft)

4,032 SF

Property type

Office buildings

APN

02-02-004-112-064

APU

202004112064

Description

This exceptional commercial property, located at 1670 Cooper Foster Park Road W in Lorain, Ohio, presents a unique investment opportunity. The building, situated on a 0.48-acre lot, comprises four individual office suites, each originally constructed at approximately 1000 square feet. The building's history includes use as a medical office, demonstrating its suitability for healthcare-related businesses. Currently, one suite remains occupied by the owner, an attorney, highlighting the property's potential for continued income generation. The sale price is $500,000. This presents a chance to acquire a well-located, established office building with the potential for immediate income and future development. The existing layout offers flexibility for a variety of professional uses, allowing for customization to suit the needs of new tenants. The property's location in Lorain, Ohio, provides convenient access to local amenities and transportation routes. The 0.48-acre lot offers ample space for potential expansion or outdoor amenities. This is an ideal opportunity for investors seeking a stable, income-producing asset in a growing market. The property is being sold as-is. Serious inquiries are encouraged. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $725,356

  6.5%

  $669,560

  7%

  $621,734

• Comparable approach

  Method

  Valuation

  Relative Method

  $377,153

  Geo Method

  $377,153

• Alternative Use

  Use

  Valuation

  Residential

  $830,254

  Hospitality

  $760,508

  Educational

  $632,734

  Medical

  $654,495

  Retail

  $984,253

Location Insight

City

Lorain

County

Lorain

State

Ohio

Latitude

41.4186

Longitude

-82.1945

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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