361 Midway BlvdElyria, OH 44035

Property Details for 361 Midway Blvd

Year built

1969

Lot size

0.66 AC

Property size (Sq ft)

3,736 SF

Property type

Retail properties

Property subtype

Banks

APN

06-24-031-106-037

APU

624031106037

Description

This exceptional 3,736 square foot freestanding retail space, formerly a bank branch, presents a unique opportunity in Elyria, Ohio. Located at 361 Midway Blvd, this single-tenant property sits on a 0.66-acre lot and boasts excellent visibility. The building's zoning is Business General District (G-B), offering flexibility for a variety of uses. Its strategic location directly across from ICP's $42 million Midway Mall redevelopment project ensures high traffic and significant future growth potential. The property features ample space for customization and adaptation to suit a wide range of businesses. The address is easily accessible from Moran Ave, providing convenient access for customers and employees. The property's APN is 06-24-031-106-037, and it is situated in Lorain County, Ohio, zip code 44035. This is an ideal location for businesses seeking high visibility and proximity to a major redevelopment project. The entire 3,736 square feet is currently vacant and ready for immediate occupancy. Don't miss this chance to establish your business in a thriving area with significant future development.

• CAP approach

  CAP return

  Valuation

  6%

  $987,996

  6.5%

  $911,996

  7%

  $846,854

• Comparable approach

  Method

  Valuation

  Relative Method

  $880,653

  Geo Method

  $880,653

• Alternative Use

  Use

  Valuation

  Residential

  $769,303

  Hospitality

  $704,677

  Educational

  $586,283

  Medical

  $606,446

  Retail

  $911,996

Location Insight

City

Elyria

County

Lorain

State

Ohio

Latitude

41.3992

Longitude

-82.1101

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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