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    541 Cleveland St Elyria, OH 44035

    For Sale
    $129,000

    High-visibility retail & rental property.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This Elyria, OH property presents a unique investment opportunity encompassing two buildings on a 0.29-acre lot at 541 Cleveland Street. The main structure is a retail space, perfectly situated for a storefront business or office, benefiting from significant foot and vehicle traffic. Its prime location ensures excellent street visibility, maximizing exposure for any commercial venture. The second building is a residential house, offering potential for rental income or owner-occupied use. While requiring some renovations to reach its optimal condition, this residential component adds considerable versatility to the property. The combined potential of a thriving retail space and a rentable residential unit makes this an attractive proposition for investors seeking diverse income streams. The property's size and location in Elyria provide a solid foundation for a successful business and/or rental operation. The asking price is $129,000. Serious inquiries are encouraged to explore this promising investment opportunity further. The property's address is 541 Cleveland Street, Elyria, OH.

    Property Features for 541 Cleveland St

    General Information

    Property type
    Retail properties
    Lot Size
    12,632 SF

    Building Details

    Year Built
    1951
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lewis Monument Company Monument Maker

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elyria
    County
    Lorain
    State
    Ohio
    Longitude
    -82.08126
    Latitude
    41.37579

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    FAQs

    What type of property is this?
    Retail property - High-visibility retail & rental property.
    Where is this retail property located?
    The property is located at 541 Cleveland St Elyria, OH.
    What is the asking price?
    The asking price for this property is $129,000.
    (440) 892-2211
    Request Owner's contact information
    541 Cleveland St Elyria, OH 44035
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    Elyria, OH 44035
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    541 Cleveland St Elyria, OH 44035
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