401-427 Cleveland StreetElyria, OH 44035
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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.
| 4 months ago | Listing first seen on site | |
| 4 months ago | Listing updated with changes from the MLS® |
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