335 Midway BlvdElyria, OH 44035

Property Details for 335 Midway Blvd

Year built

1976

Lot size

0.18 AC

Property size (Sq ft)

5,712 SF

Property type

Retail properties

Property subtype

Retail space

APN

06-24-031-106-022

APU

624031106022

Description

This exceptional 5,780 square foot freestanding retail building presents a unique investment opportunity in Elyria, Ohio. Its strategic location offers unparalleled visibility and accessibility. Situated directly across from a planned redevelopment site, this property benefits from significant future growth potential. The building enjoys ample parking, a crucial amenity for customers and employees. Its convenient access from the I-90/Lorain Boulevard interchange ensures easy commutes for both patrons and staff. The property's central location within Elyria places it amidst a thriving retail landscape. Nearby established businesses include major national chains such as Lowe's, Marc's, Planet Fitness, PetSmart, McDonald's, Chipotle, Olive Garden, Wendy's, and many more, creating a strong and established commercial environment. This high-traffic area guarantees significant exposure for any business occupying this space. The single-tenant occupancy provides flexibility and control for the new owner. This freestanding building offers a rare combination of prime location, ample parking, and easy access, making it an ideal investment for discerning buyers seeking a strong return on investment in a rapidly developing area. The property's size and configuration are well-suited for a variety of retail uses. Don't miss this opportunity to secure a prominent retail presence in a dynamic and growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,510,555

  6.5%

  $1,394,358

  7%

  $1,294,761

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,346,437

  Geo Method

  $1,346,437

• Alternative Use

  Use

  Valuation

  Residential

  $1,176,193

  Hospitality

  $1,077,387

  Educational

  $896,373

  Medical

  $927,201

  Retail

  $1,394,358

Location Insight

City

Elyria

County

Lorain

State

Ohio

Latitude

41.399

Longitude

-82.1087

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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