Historic Mixed-Use Commercial
119 Lafayette Road Medina, OH 44256
119 Lafayette Road, Medina, OH, 44256
Contact for pricing
For Sale
Contact for pricing
Renovated 1891 building offers street-accessible first-floor office or retail space and a separately metered second-floor apartment.
Property Size2,102 SF
Price / SF$178.40
Days on Market69
Property Features for 119 Lafayette Road
General Information
- Standard status
- Active
- Size
- 2,102 SF
- Property subtype
- Retail, Mixed Use
Listing agency
Gerspacher Real Estate Group
(330) 722-5002
Listed by
Emily Faust · License #SAL.2021003573
Source
Crexi
Added: May 14 Updated: Jul 20 at 5:27PM Checked: Jul 20 at 5:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gerspacher Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1891, this Victorian-era Eastlake-style historic building has been renovated for commercial use while preserving original character. The first floor includes 1,200 SF of office or retail space with a handicap-accessible entrance, a restroom, original hardwood floors, period woodwork, three rooms, and two fireplaces. Upstairs, a 902 SF, two-bedroom, one-bath apartment provides additional residential space with natural light.
A monument sign at the street supports visibility, and a rear parking lot accommodates up to six vehicles. The first and second floors are separately metered for utilities, which can support flexibility for owner-occupants or investors.
The property is zoned Central Business District and is positioned about two blocks from Medina’s Historic Public Square within the South Town area featuring a mix of residential and commercial activity.
A monument sign at the street supports visibility, and a rear parking lot accommodates up to six vehicles. The first and second floors are separately metered for utilities, which can support flexibility for owner-occupants or investors.
The property is zoned Central Business District and is positioned about two blocks from Medina’s Historic Public Square within the South Town area featuring a mix of residential and commercial activity.
Key Highlights
- Built in 1891, 2,102 SF Eastlake‑style Victorian‑era building renovated for commercial use
- First floor features 1,200 SF office/retail space with handicap‑accessible entrance, restroom, original hardwood floors, period woodwork, 2 fireplaces, and 3 rooms
- Second floor includes 902 SF apartment with 2 bedrooms and 1 bath with natural light
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.2k | $21.48 |
| − Vacancy | −$10.8k | −$5.13 |
| EGI | $34.4k | $16.35 |
| − OpEx | −$8.6k | −$4.09 |
| NOI | $25.8k | $12.26 |
2,102 SF · lease $21.48/SF/yr · vacancy 23.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$368.1K
$322.1K – $429.5K
NOI $25,770 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$237.2K
$207.5K – $276.7K
NOI $16,603 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$586.3K
$513.0K – $684.0K
NOI $41,042 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sew Wright by ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Renovated 1891 building offers street-accessible first-floor office or retail space and a separately metered second-floor apartment.
Where is this retail space located?
The property is located at 119 Lafayette Road Medina, OH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Built in 1891, 2,102 SF Eastlake‑style Victorian‑era building renovated for commercial use; First floor features 1,200 SF office/retail space with handicap‑accessible entrance, restroom, original hardwood floors, period woodwork, 2 fireplaces, and 3 rooms; Second floor includes 902 SF apartment with 2 bedrooms and 1 bath with natural light
