603 Cleveland StElyria, OH 44035

Property Details for 603 Cleveland St

Year built

1948

Lot size

0.15 AC

Property size (Sq ft)

6,180 SF

Property type

Retail properties

Property subtype

Retail space

APN

06-25-012-101-002

APU

625012101002

Description

This exceptional 6,180-square-foot retail property presents a unique investment opportunity in Elyria, Ohio. Located on a highly trafficked main thoroughfare, this vacant building sits on a prominent 0.25-acre corner lot, offering ample parking. The property boasts a single-story structure with permitted B-G zoning. Previously approved for dispensary use, this versatile space is ideal for a variety of retail or commercial ventures. The property's address is 603 Cleveland Street, Elyria, OH 44035, and its parcel numbers are 06-25-012-101-002 01, -003 and -004. The building's size and location make it an attractive option for businesses seeking high visibility and accessibility. The large parking lot provides convenient customer parking. This mixed-use property offers significant potential for a savvy investor looking to capitalize on its prime location and flexible zoning. The vacant status allows for immediate occupancy and customization to suit a new tenant's needs. This is a rare opportunity to acquire a substantial commercial property in a thriving Ohio market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,634,319

  6.5%

  $1,508,602

  7%

  $1,400,845

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,456,754

  Geo Method

  $1,456,754

• Alternative Use

  Use

  Valuation

  Residential

  $1,272,562

  Hospitality

  $1,165,660

  Educational

  $969,816

  Medical

  $1,003,169

  Retail

  $1,508,602

Location Insight

City

Elyria

County

Lorain

State

Ohio

Latitude

41.3765

Longitude

-82.0796

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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