127 E Main Street, Ravenna, OH 44266
Portage County
Key Facts
Description
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 Information
Property Type
Commercial Sale
Sub-Type
Mixed Use
Year Built
1870
Lot Size
0.70 acres
Days on Market
58
MLS® Listing#
5204175
Property Features
Cooling
Heating
Roof
Sewer
Water Source
Financial Details
Annual Taxes
$20,255
Tax year 2025
Parcel Number
31-349-04-00-195-000
Directions
Head toward E Main St., Turn left at the 1st cross street onto E Main St., Destination on the right.
Affordability Calculator
$510,000
Estimated monthly payment
$13,572/mo
Principal $2,040,000 · Est. interest $2,845,982 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Ravenna, OH
- $225,000
- Median Listing Price
- 28
- Median Days on Market
- 1,580
- Median Sq Ft
- $130
- Median Price / Sq Ft
- 35
- Active Listings
- This home’s price is 1033% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Ravenna, OH.
Location
Points of Interest in Ravenna, OH
Showing the Ravenna area map.
Nearby Schools
Tots Learning Center
School · 0.2 mi away
Tappan Elementary School
Elementary · 0.5 mi away
West Main Elementary School
Elementary · 0.5 mi away
Carlin Elementary School
Secondary · 0.6 mi away
Ravenna High School
Secondary · 0.9 mi away
West Park Elementary School
Elementary · 1.1 mi away
Brown Middle School
Secondary · 1.2 mi away
Willyard Elementary School
Elementary · 1.5 mi away
Amanda's Garden
Elementary · 1.5 mi away
Maplewood Career Center Adult Edu
Secondary · 2.2 mi away
Happy Day School
Secondary · 3.3 mi away
Bio-Med Science Academy
School · 3.7 mi away
Rootstown Elementary School
Elementary · 3.8 mi away
Rootstown Middle School
Secondary · 3.9 mi away
Rootstown High School
Secondary · 3.9 mi away
Tree City Preschool
School · 5.0 mi away
Kent State Mac Center
School · 5.4 mi away
Walls Elementary School
Elementary · 5.4 mi away
Franklin Elementary School
Elementary · 5.8 mi away
Kent City School District
School · 5.9 mi away
Commute Calculator
Nearby Homes
Moving Cost Estimate
EXIT Agents in Ravenna
Listing Courtesy: Keller Williams Chervenic Rlty - NickPapas@kw.com, 216-316-7703
Last Updated: 2026-04-22