15200 Lorain AveCleveland, OH 44111

Property Details for 15200 Lorain Ave

Year built

1963

Construction

TYPE NOT SPECIFIED

Lot size

1.04 AC

Property size (Sq ft)

13,333 SF

Zone code

LR

Property type

Auto shops

APN

025-24-023

APU

2524023

Description

Exceptional redevelopment opportunity in Cleveland's vibrant Kamm's Corners District. This vacant, 34,250 square foot retail property, situated on a 2.47-acre lot at 15200 Lorain Ave, Cleveland, OH 44111, presents significant potential. The property features two buildings, constructed in 1963 and renovated in 2018, boasting 3-phase/480 amp power, nine drive-ins ranging from 8' to 14' in height, and 14' clear height in the warehouse space. The existing structure includes 3,975 square feet of office and showroom space, plus an additional 2,233 square feet of second-floor office space. The LR-C2 (Local Retail Business District) zoning permits a wide range of retail uses (excluding automotive). The high-traffic location, with 14,000 vehicles passing daily on Lorain Road, and its proximity to I-77 (one mile, three-minute drive), makes this an ideal site for a mixed-use development. The property includes approximately 55,000 square feet of paved parking. APN numbers are 02524030, 02524029, 02524027, and 02524023. This is a rare chance to acquire a substantial property in a thriving commercial district.

• CAP approach

  CAP return

  Valuation

  6%

  $2,962,750

  6.5%

  $2,734,850

  7%

  $2,539,500

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,297,060

  Geo Method

  $1,297,060

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,575,870

  Mixed-Use / Specialty

  $2,627,050

  Hospitality / Lodging

  $1,799,720

  Office

  $2,509,310

  Institutional / Educational

  $2,696,020

  Residential Income

  $3,154,350

  Multifamily

  $4,326,740

  Automotive / Energy

  $2,310,880

  Parking / Income-Based Land

  $894,330

  Restaurant / Food Service

  $1,157,080

  Healthcare / Senior Housing

  $2,794,540

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.4529

Longitude

-81.8038

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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