Remarks

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%.

Details

MLS#: 5095730
Price: $2,300,000

Style: Retail
Sq Ft: 0
Year Built: 1950

County: Lorain
Tax Fee: 35234

School District: Elyria CSD - 4706