1507-1511 Lincoln Boulevard
Lorain, OH, 44055 $ 375,000
Baths0.0 Sq 11,000 Monthly Estimate*
$ 2,492
Studio
for $375,000. This 11,000 square foot building was built in 1900 on a lot size of 2.51.
Welcome to the expansive commercial property at 1507-1511 Lincoln Blvd in Lorain! This remarkable property stands out with its vast wrap-around parking lot, spans 2 parcels & provides full access from the street to a generous 2.51 acres. The building is a substantial structure, totaling 11,000 sq ft, 5,500 sq ft above ground & an additional 5,500 sq ft below ground, accessible by a full walk-out. Providing a wealth of usable square footage, presenting endless possibilities for the new buyer to envision & customize according to their needs. Situated on a fully paved lot, the property boasts convenience and accessibility, with multiple handicap ramps strategically placed around the entire building, ease of access from both the front & back parking lots. The building's design features three front entrances, offering remarkable flexibility; it can be divided into three individual units or left open, catering to a variety of uses. Inside, the main floor has undergone extensive renovations, with a complete gutting to the studs, and all electrical and plumbing systems upgraded. While the lower level remains untouched, it offers a blank slate for customization, allowing the new owner to tailor the space to their specific needs. This unique property is being offered As-Is, presenting a rare opportunity for someone with a vision to bring it to life. Previously owned by a church, unable to cover renovation costs, are ready to pass the torch. This property serves as an ideal space for a creative mind, offering the potential for various ideas, from medical or office use to other innovative ventures. Whether you're an entrepreneur seeking a prime location for a new business venture or an investor looking to capitalize on the growing area, this property stands as a beacon of opportunity. Seize the chance to turn this location into an extraordinary destination, and don't miss out on the potential for growth and success. Act now & make this property the place for your next venture!!
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FeaturesGeneralSewer PublicSewer
Heating ForcedAir Gas
Cooling None
Possession DeliveryOfDeed
Roof Asphalt Fiberglass Flat
Year Built 1900
Tenant Pays AllUtilities
Township Sheffield Twp
Property SubType Office
Additional Parcels Description 03-00-112-102-024
County Lorain
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Subdivision Name Sheffield
Garage Y/N N
Building Features MeetingRooms PrivateRestrooms PublicRestrooms Signs
Status Active
Directions State Route 57 North to North Ridge Road to Elyria Avenue to Lincoln Boulevard
City Lorain
Disclosures PrincipalisRealEstateLicensed
View Y/N N
Senior Community Y/N N
High School District Clearview LSD - 4704
NumberOfUnitsTotal 4
Lot Size Units Acres
Waterfront Y/N N
Carport Y/N N
Street Name Lincoln
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 577.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 231
Standard Status Active
Occupancy Type Vacant
Middle/Junior School District Clearview LSD - 4704
Elementary School District Clearview LSD - 4704
Tax Lot A/OL112
Total Actual Rent 0.0
Property Sub Type Additional Office
Legal Description OL112
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InteriorBasement CommonBasement Full PartiallyFinished Unfinished WalkOutAccess
Total Stories 1
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 11000.0
Street Suffix Boulevard
Electric On Property Y/N N
Main Level Bathrooms 0
Above Grade Finished Area Source Owner
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ExteriorFencing Other
Parking Features Driveway OnSite Outside Paved
Water Source Public
Total Parking 100.0
Lot Size Area 2.51
Number of Buildings 1
Spa N
Building Area Total 11000.0
Lot Size Acres 2.51
Lot Size Source PublicRecords
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByColdwell Banker Schmidt RealtyBroker
majdey.taye@cbschmidtohio.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $2,492
- Monthly Property Taxes
- $48
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Lorain, OH
Average List Price $313,114
Percent of Sale Price 17%
About Lorain, OH 62,881 Population
-9% Since 2002
$ 36,696 Median Income
38.01 Median Age
30% Households with Children
Trends Information provided by ATTOM Data Solutions.
4458821 Elementary School
4458906 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/21/2024 | $375,000 | -6.02% | Price Down |
3/20/2024 | $399,000 | -6.12% | Price Down |
2/25/2024 | $425,000 | -5.56% | Price Down |
2/10/2024 | $450,000 | -9.98% | Price Down |
1/18/2024 | $499,900 | -4.78% | Price Down |
1/8/2024 | $525,000 | -8.70% | Price Down |
12/17/2023 | $575,000 | -8.00% | Price Down |
12/2/2023 | $625,000 | -3.83% | Price Down |
10/31/2023 | $649,900 | -7.14% | Price Down |
10/3/2023 | $699,900 | | Listed Price |