22101 Lorain RdFairview Park, OH 44126

  • Retail properties
  • 2,203 SF
For Sale
$550,000 View listing

Property Details for 22101 Lorain Rd

Year built
1949
Construction
TYPE NOT SPECIFIED
Lot size
0.30 AC
Property size (Sq ft)
2,203 SF
Zone code
GB-B
Property type
Retail properties
Property subtype
Auto shops
APN
321-25-010
APU
32125010

Description

This exceptional owner-user opportunity presents a well-established auto shop in Fairview Park, Ohio. Located at 22101 Lorain Rd, this property boasts a prime corner location at the intersection of Lorain Rd and 221st St, benefiting from high visibility and significant traffic volume (18,075 vehicles per day). The 2,203 square foot building, constructed in 1949, features five service bays, ideal for a thriving automotive business. The property sits on a lot with ample parking, catering to both customers and employees. The building is a single-story structure, zoned for General Business use, offering flexibility and potential for future expansion. The asking price is $550,000. This is a rare chance to acquire a well-positioned, established business in a high-traffic area with strong potential for continued growth and profitability. Serious inquiries only. Please note: On-site visits are not permitted without prior arrangement.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $582,590
    6.5%
    $537,775
    7%
    $499,363
  • Comparable approach

    Method
    Valuation
    Relative Method
    $519,293
    Geo Method
    $519,293
  • Alternative Use

    Use
    Valuation
    Residential
    $453,633
    Hospitality
    $415,526
    Educational
    $345,713
    Medical
    $357,602
    Retail
    $537,775
22101 Lorain Rd, Fairview Park, Ohio

Location Insight

City
Fairview Park
County
Cuyahoga
State
Ohio
Latitude
41.4407
Longitude
-81.8658
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$5,905
$30,100
$26,570
$56,670
-
$86,000
$75,900
$161,900

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