for sale 5 building complex on 7.95 acres...5 building complex on ±7.95 acres bldg. 3, 4 & 5...
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CONTACT USHOWARD LICHTIG, SIORVice President+1 216 363 [email protected]
MICHAEL TOTHSenior Associate+1 216 363 [email protected]
CBRE, INC.950 Main AvenueSuite 200Cleveland, Ohio 44113
www.cbre.com/cleveland
5 BUILDING COMPLEX ON ±7.95 ACRES14550 LORAIN AVENUE CLEVELAND, OHIO 44111
FOR SALE
PROPERTY FEATURES
© 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. | Source: Nielsen, 2016 Estimated Demographic Information | Licensed Real Estate Broker
www.cbre.com/cleveland
Complex Total Size 5 building complex on ±7.95 acres
Asking Price $1,650,000
Split Zoning GR-E1 (General Retail) and SI-B2 (Semi-Industrial)
Permitted UsesMotor vehicle sales, service station, car wash, department stores, grocers, laundry mats, dry cleaners, salons, business offices and college/trade schools
• Former motorcycle dealership - near west side
• Income producing property with large vacancy to accommodate owner-user
• Good redevelopment opportunity or adaptive re-use by owner-user/investor
• Located on Lorain Road, just east of West 150th Street
• Great access to I-71 to the south and I-90 to the north
DEMOGRAPHIC INFORMATION
Demographics 1 Mile 3 Miles 5 Miles
2016 Population 20,803 154,703 303,645
Avg. Household Income $53,981 $55,678 $56,552
Traffic Counts: Lorain Road & West 150th Street with 19,690 VPD
14550 LORAIN AVENUECleveland, Ohio 44111
FOR SALE 5 BUILDING COMPLEX ON ±7.95 ACRES
14550 LORAIN AVENUE
PROPERTY AERIAL
www.cbre.com/cleveland
14550 LORAIN AVENUECleveland, Ohio 44111
FOR SALE 5 BUILDING COMPLEX ON ±7.95 ACRES
BLDG. 3, 4 & 5LEASED
BLDG.2LEASED
BLDG.1VACANT
BUILDING 1 - VACANT + +48,800 SF, most recently used as a motorcycle dealership
- 8,000 SF, showroom with offices - 40,800 SF, warehouse - Great opportunity for a retailer with the need for on-site warehousing capabilities - Furniture stores, carpet and flooring, Home and Garden/Hardware store
BUILDING 2 - LEASED LEASED BY NORTH COAST CAR CREDIT (USED CAR SALES)
+ +1,700 SF retail/office building plus 1 acre lot - Short term lease allows flexibility for potential redevelopment - Tenant willing to sign longer term - if necessary
BUILDING 3 - LEASED LEASED BY CITY OF CLEVELAND
+ +25,000 SF industrial building
BUILDING 4 & 5 - LEASED LEASED BY CITY OF CLEVELAND
+ Two 9,000 SF canopy buildings (18,000 SF total) - City of Cleveland has been a tenant here for 30+ years on 1 year leases