1657 Broadway Ave - Manufacturing FOR SALE


Lorain, OH 44052
$3,999,999 USD
440-655-5472
1657 Broadway Ave, Lorain, OH for Sale
$3,999,999 USD
Manufacturing - FOR SALE
1/4
null | Request Cap Rate

1657 Broadway Ave
Lorain, OH 44052


HIGHLIGHTS

  • Heavy day time traffic; New roofs on both buildings; New full sprinkler system for both buildings. The two buildings are connected by a skybridge
  • Newly renovated, climate-controlled self-storage facility; New HVAC for both buildings; New 2 furnaces for the warehouse.
  • New 2 ramps; New 2 doors; Fenced parking lot with 40 spaces; Epoxy floors inside the warehouse.

OVERVIEW

Offered as a value-add investment and/or owner-user opportunity. Self-storage facility is newly renovated and currently vacant, providing immediate lease-up potential. Warehouse is fully functional for continued industrial use or owner occupancy. The two buildings are connected by a skybridge. Investment Highlights 65,520 SF industrial and self-storage complex Two concrete buildings with newer flat roofs 321 climate-controlled self-storage units Newly renovated self-storage facility Warehouse suitable for manufacturing, distribution, storage, or owner-user occupancy On-site 40 parking spaces and strong utility infrastructure Annual Operating Expenses Electric: $28,212 | Gas: $17,399 | Water/Sewer: $4,632 Insurance: $26,742 | Real Estate Taxes: $24,508 Significant lease-up and value-add potential Cap rate is 6% based on projected stabilized income and assumes successful lease-up of the self-storage facility, which is currently vacant. Disclaimer: All information contained herein has been obtained from sources believed to be reliable; however, no representation or warranty, express or implied, is made as to its accuracy or completeness. Prospective purchasers are advised to conduct their own independent investigations and due diligence regarding the property and all information presented.

FOR SALE DETAILS

PRICE

$3,999,999 USD

PRICE/SF

$64 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

ADD'L SUBTYPES

Distribution, Showroom, undefined

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

UTILITIES

Lighting, Gas, Water, Sewer, Heating

CLEAR CEILING HT

28 Ft

DOCKS

2

DRIVE INS

1

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.9

LAND SF

82,764

ZONING

-

APN/PARCEL ID

02-01-003-142-004,02-01-003-150-018,02-01-003-150-019

ASK ABOUT THIS PROPERTY

Ruset PatrascuPhoenix9 Realty, Inc.More Info
440-655-5472

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Ruset PatrascuPhoenix9 Realty, Inc.More Info
440-655-5472

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.