OH > Elyria
Elyria, OH 44035,401-427 Cleveland ST
Elyria, OH 44035,401-427 Cleveland ST
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Shawana Hanson

Shawana Hanson

+1(216) 971-3161
$ 2,300,000
Est. payment | /mo

0.83 Acres Lot

Save
$ 2,300,000
Est. payment | /mo
Save

0.83 Acres Lot

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. 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, of which eight 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
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"Whether you're looking to purchase your first home, dream home, investment property, and/or sell your current home, I am committed to providing you with high-quality bespoke services."

+1(216) 971-3161

info@luxehauscle.com

1991 Crocker Rd. Suite 600, Westlake, OH, 44145, United States

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