$2,300,000
( )
$15,302 est/mo Sourced by Back At You401-427 Cleveland Street,Elyria, OH 44035
Elyria, OH 44035
Description
100% Occupied!! The current cap rate is now 9.6%.. Possible Owner financing available at a 6% interest rate will be considered with a strong down payment. Prime commercial retail strip mall in Elyria, OH! Located in a high-traffic area near Route 57 and the Ohio Turnpike (80) on a heavily traveled street within a thriving business district. This 24,871 SQ FT building sits on 0.83 acres of valuable land. There are 9 total units by, of which eight are in the main retail strip, and the additional freestanding building (9th unit) is located directly behind the main retail strip. Tenants have a long, solid history at this plaza! With future increases in rents, the Pro Forma Cap rate will be well over 10%.
Details
| MLS# | 5095730 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 117 |
| Listing Provided By | RE/MAX Real Estate Group | Andrew G Pal |
Features
| Acreage | 0.83 |
|---|
Market Activity 44035
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Learn More About This Property
| State | OH |
|---|---|
| County | Lorain |
| City | Elyria |
| Zip Code | 44035 |
| School District | Elyria CSD - 4706 |
| Elementary School | Elyria CSD - 4706 |
| Middle School | Elyria CSD - 4706 |
| High School | Elyria CSD - 4706 |
| Listing VS Median (in 44035) | |
Price: $2,300,000 low | high Med: $199,450 On site: 117 low | high Med: 34.000000 | |
Listing Updated: April 29, 2025 at 3:49:08 PM PDT