2
See all 2 photos
$2,300,000
Est. payment /mo
0.83 Acres Lot
Active
401-427 Cleveland ST Elyria, OH 44035
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5095730
HOA Y/N No
Year Built 1950
Annual Tax Amount $35,234
Tax Year 2024
Lot Size 0.830 Acres
Acres 0.83
Property Sub-Type Retail
Property 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. Currently, the two recently vacant units are now in the process of finalizing lease docs and will be occupying the space soon. 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, which eight of them 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%.
Location
State OH
County Lorain
Interior
Heating Forced Air, Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features On Site, Paved
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Total Parking Spaces 100
Building
Sewer Public Sewer
Water Public
Schools
School District Elyria Csd - 4706
Others
Tax ID 06-25-015-101-028
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Andrew G Pal • RE/MAX Real Estate Group • AndrewpaL9@gmail.com 216-903-9755