New price: $145,000.00. In an Opportunity Zone: offers favorable capital gains treatment for taxpayers. Invest in real estate or businesses located in a qualified zone, hold it for ten years, and not only can you sell your investments free of capital gains tax, but you also get a tax break on untaxed capital gains rolled into an Opportunity Zone investment. Individuals with short-term capital gains can avoid $7.50 in taxes for each $100 they invest, even before considering any return on their Zone investments. A great restaurant/bar for sale in the Waterfront Entertainment District, Lorain Ohio! This is an incredible opportunity, some equipment, including bar equipment, business software, new (2015) kitchen hood, fryer and stove. The building was completely renovated in 2007, new electrical wiring, alarm system, new gas meter with new gas line, new water lines. The building has a new roof, new furnace/AC, and new restroom equipment. It is within walking distance to the Black River Landing where all the spring, summer and fall concerts (Rover Fest, Rockin on the River and Local Festivals) are held. The building has reduced real estate taxes from the Community Reinvestment Area (CRA) incentive tax exemption transferable to the new owner. Parking in back, front patio and room for patio in back. Exterior Features: On/off street (back of building) parking, frontage: 50 feet, rubber roof, public sewer, public water.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
