Post on 11-Oct-2020
CONTACT USHOWARD LICHTIG, SIORVice President+1 216 363 6410howard.lichtig@cbre.com
MICHAEL TOTHSenior Associate+1 216 363 6422michael.toth@cbre.com
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
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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