7333 Lake AveElyria, OH 44035
- Mixed-use properties
- 3,657 SF
For Sale
$349,900
View listing
Property Details for 7333 Lake Ave
- Year built
- 1953
- Construction
- FRAME
- Lot size
- 0.15 AC
- Property size (Sq ft)
- 3,657 SF
- Property type
- Mixed-use properties
- Property subtype
- Other investment properties
- APN
- 06-24-036-106-012
- APU
- 624036106012
Description
This exceptional Elyria, OH property offers a lucrative investment opportunity with a blend of commercial and residential spaces. The 3,657 square foot building sits on a 0.15-acre lot and includes two storefronts, currently rented on month-to-month leases at $400 and $250 respectively, ideal for retail or office use. Four residential units, comprising two 2-bedroom and two 1-bedroom apartments, offer additional income streams
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $657,894
- 6.5%
- $607,287
- 7%
- $563,909
-
Comparable approach
- Method
- Valuation
- Relative Method
- $342,076
- Geo Method
- $342,076
-
Alternative Use
- Use
- Valuation
- Residential
- $753,036
- Hospitality
- $689,777
- Educational
- $573,886
- Medical
- $593,623
- Retail
- $892,712
7333 Lake Ave, Elyria, Ohio
Location Insight
- City
- Elyria
- County
- Lorain
- State
- Ohio
- Latitude
- 41.3921
- Longitude
- -82.13
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$4,791
$4,575
$54,156
$58,731
-
$13,070
$154,730
$167,800
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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