Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1950
Sq.Footage
N/A
100% Occupied!! Current cap rate 9.87%. 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%. Owner is relocating to retire and prefers a quick sale. Possible short term Owner financing may be available at a 6%-7% interest rate and only considered with a strong down payment.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Basement YN
NO
-
Cooling YN
YES
-
Cooling
Central Air
-
Heating YN
YES
-
Heating
Natural Gas, Forced Air
Exterior
-
Garage
No
-
Parking
On Site, Paved
-
Pool
No
Area & Lot
-
Lot Size(acres)
0.83
-
Property Type
Commercial Sale
-
Property Sub Type
Retail
Price
-
Sales Price
$2,350,000
-
Tax Amount
35234.0
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Elyria CSD - 4706
-
Middle School
N/A
-
High School
N/A
Property Features
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Lorain
Elementary School
Elyria CSD - 4706
Middle School
High School
Listing Courtesy of Andrew G Pal , RE/MAX Real Estate Group
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AGENT
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