401-427 Cleveland Street Elyria, OH 44035
Retail
MLS #: 5095730
Courtesy Of RE/MAX Real Estate Group
Property InformationDescription
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%.
Features
- Age: Over 50 Years Old
- Architecture Style: Other
- MLSID: 5095730
- Parking Spaces: 100
- Roof Type: Asphalt
- Roof Type: Fiberglass
MAP & DIRECTIONS
Copyright © 2025 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
