506 BroadwayLorain, OH 44052

506 BroadwayLorain, OH 44052

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$225,000 Active
Commercial - Business MLS 5193492
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Listed By

Agency Name: Russell Real Estate Services
Agency Contact: deniserakich@gmail.com, 440-320-3611

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

Prime Downtown Lorain retail storefront offers nearly 4,000 sq ft! Previously used as a retail clothing/uniform/tuxedo rental shop. Make your dream a reality! Would be great for restaurant, professional office space, retail sales, or you can choose to sublet sections for multiple entrepreneurs to set up shop under one roof and make money on your commercial investment!

506 Broadway, Unit 1 | MLS# 5193492

This commercial property located at 506 Broadway, Unit 1, Lorain, OH 44052 is currently listed for sale with an asking price of $225,000. Broadway, Unit 1 is located within the Lorain City school district. Search Lorain real estate on 536austindriveunitf.cutlerhomes.com today.

Property Features

Property Type: Commercial - Business
Basement: Unfinished
Basement: Yes
Cooling: Central Air
Days on Market: 1
Heating: Forced Air, Gas
Lot Size: 0.01 Acres
Stories: 1.0
Taxes: $3,267 / year
Year Built: 1900

Feature Descriptions

Parcel#: 02-01-004-700-001
Parking: On Street
Sewer: Public Sewer
Water: Public

Local Schools

School District: Lorain City

Demographics

Lorain County Demographic Information for 506 Broadway, Unit 1, Lorain, OH 44052
Fips
Fips Code 39093
Population
2020 to 2025 Change up 3.3%
2010 Count 301,356
2020 Count 312,964
2025 Estimate (V2025) 323,219
2020 Estimate (V2025) 312,956
Age Distribution (Years Old)
0 to 4 5.2%
5 to 17 21.1%
18 to 64 53.0%
65 and Older 20.7%
Gender
Male 49.6%
Female 50.4%
Place of Birth
Foreign 3.1%
US 96.9%
Education
High School Graduate, Age 25+ 91.8%
Bachelor's Degree or Higher, Age 25+ 28.5%
Computer and Internet use
Households with a computer 94.8%
Households with a broadband Internet subscription 88.9%
Language
English is Second Language, Age 5+ 7.8%
English is First Language, Age 5+ 92.2%
Veterans
Veterans 18,512
Income
Per Capita Income $40,798
Median Household Income $73,347
People in Poverty 10.8%
Commute
Average Work Commute Time 26 minutes
Housing
Total Housing Units 136,666
Households 127,544
Average Household Size 2.42
Owner-Occupied 74.0%
Multi-Family 17.0%
Owner-Occupied Median Value $223,200
Median selected monthly owner costs -with a mortgage $1,525
Median selected monthly owner costs -without a mortgage $629
Median gross rent $966
Building Permits
New Private Housing Issued 2024 1,331
Years at Residence
1 Year or More 90.9%
Less Than 1 Year 9.1%
Business and Employment
Private non-farm Establishments 5,664
Private non-farm Employment 89,159
Private non-farm Employment Growth 0.0%
Nonemployer Establishments 21,949
Number of Firms 4,759
Business Production
Value of Shipments $6,058,884,000
Wholesale Trade $2,315,415,000
Retail Trade $3,875,576,000
Retail Sales Per Capita $12,297
Accommodation and Food Services $444,363,000
Land
Land Area 491.10 sq. miles
Population Per Square Mile 614

Source: US Census Bureau

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