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127 E Main Street
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$1,950,000

127 E Main Street
Ravenna, OH 44266
Listed by Nicholas R Papas · Keller Williams Chervenic Rlty
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1870

About this home

Prime investment opportunity in the heart of Ravenna! This mixed-use commercial building features 11 commercial units/offices along with 17 residential apartment units, offering strong income potential and diverse revenue streams. Ideally located with great visibility and accessibility, this property is perfect for investors looking to expand their portfolio or generate consistent cash flow. At a Glance High profile revitalization or redevelopment opportunity of The Variety Theater, featuring a 20,675 square foot auditorium, multiple retail suites fronting Lorain Avenue and second floor apartments, totaling ~33,323 SF. Located in the lively Jefferson neighborhood of Cleveland, near the corner of Lorain Avenue and West 117th Street (nearly 30,000 VPD). Listed on the National Register of Historic Places. Convenient access to I-90 (nearly 130,000 VPD). $1.4 Million available in state-funded grants. Retail Units Five Retail Storefronts: +/- 6,455 SF of versatile space. Prime Visibility: Excellent frontage on Lorain Avenue with nearly 30,000 vehicles per day (VPD). Flexible Layouts: Storefronts can be combined to create larger continuous spaces. Ideal Opportunities: Perfect for a coffee shop, restaurant, record store, or other boutique retail.

Property details

MLS #
5204175
Property type
MixedUse
Subdivision
N/A
Status
Active
Days on market
116
On market date
N/A
Stories
N/A
Garage spaces
N/A
Lot size
0.7 acres

Location

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Nearby schools

Within 10 miles · public school directory data (NCES)

Elementary
West Main Elementary School
0.54 mi away · Grades 1-4
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
299
Student:teacher ratio
12.0:1
District
Ravenna City
Middle
Brown Middle School
1.16 mi away · Grades 5-8
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
603
Student:teacher ratio
13.7:1
District
Ravenna City
High
Ravenna High School
0.92 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
584
Student:teacher ratio
13.6:1
District
Ravenna City

Mortgage calculator

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Est. monthly payment
$11,893/mo
$390,000 down
$1,560,000 loan
Principal & interest$10,118
Property tax (est.)$1,625
Home insurance (est.)$150

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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated 4 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.