Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    209 Midway Blvd Elyria, OH 44035

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space across from Midway Mall, near I-80 and I-90.

    Property size:
    870 SF
    Lot size:
    1.11 Acres

    Property Features for 209 Midway Blvd

    General Information

    Size
    870 SF
    Lot size
    1.11 Acres

    We can help!

    Listing Contact
    Igal Nassim
    Source: Moodyscre

    Listing Agent: Igal Nassim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space Near Midway Mall

    This 870-square-foot retail space is located across the street from Midway Mall, strategically positioned between I-80 and I-90, approximately 15 miles west of Cleveland. The surrounding retailers include At Home, Regal Cinemas, Burlington Coat Factory, Planet Fitness, Toys R Us, Dick’s Sporting Goods, Target, and Home Depot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Kimberly Chang, ... Dentist First Choice Medical ... Employment Agency Supercuts Hair Salon

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Elyria
    County
    Lorain
    State
    Ohio
    Longitude
    -82.10437
    Latitude
    41.399101

    Nearby Similar for Lease

    • $2,500 /Mo
      2,178 SF

      Professional Office Condo For Lease

      2400 sq ft office condo in prime Lorain County.
      5319 Meadow Lane Ct, Elyria, OH 44035
      View Details
    • $2,500 /Mo
      Pending

      Elyria Commercial Space For Lease

      Commercial space in Elyria featuring offices, kitchen, and storage.
      418 E Broad St, Elyria, OH 44035
      View Details
    • New
      $1,495 /Mo
      8,712 SF

      Elyria Commercial Space For Rent

      Retail/office space with showroom, offices, conference area, kitchen, and garage.
      41981 N Ridge Rd, Elyria, OH 44035
      View Details
    • $1,700 /Mo
      23,958 SF

      Elyria Commercial Rental Opportunity

      Commercial rental in high-traffic area near Route 57/113 and LCCC.
      511 N Abbe Rd, Elyria, OH 44035
      View Details
    • $10,000 /Mo
      53,143 SF

      Former Bank Building with Drive-Thru

      Versatile commercial space near LCCC, I-90, and major thoroughfares.
      5380 N Abbe Rd, Elyria, OH 44035
      View Details
    • $1,863,125

      Freestanding Family Dollar Store Investment

      Family Dollar store in Elyria, OH with NN lease.
      401 Lake Ave, Elyria, OH 44035
      View Details
    • $12 SF/Yr
      6,290 SF

      Elyria Office Space For Lease

      Downtown Elyria office space with high visibility and ample parking.
      532 Broad St, Elyria, OH 44035
      View Details
    • $8 SF/Yr
      45,488 SF

      Retail Spaces in Midway Crossing

      Retail units available in a 179,646 SF shopping mall.
      1599 W River Rd N, Elyria, OH 44035
      View Details
    • Contact for pricing
      267,000 SF

      River Street Square Retail Center

      Elyria, Ohio Shopping Center - 16 Spaces Available
      205 Midway Blvd, Elyria, OH 44035
      View Details
    • $8 SF/Yr
      179,646 SF

      Midway Crossing Retail Center

      Elyria, OH Shopping Center Opportunity
      1599 River Rd, Elyria, OH 44035
      View Details
    • Contact for pricing
      450,300 SF

      Elyria Warehouse: 450,300 SF

      Massive warehouse, 36 acres, immediate occupancy.
      901 Cleveland St, Elyria, OH 44035
      View Details
    • $4 SF/Yr
      702,400 SF

      Spacious Warehouse with Highway Access

      Large industrial property with on-site management and highway access.
      1400 Lowell St, Elyria, OH 44035
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space across from Midway Mall, near I-80 and I-90.
    Where is this retail space located?
    The property is located at 209 Midway Blvd Elyria, OH.
    What are key features of this property?
    This property features: - Across the street from Midway Mall; - Strategically located between I-80 & I-90; - 15 Miles West of Cleveland
    (516) 371-5858
    Request Owner's contact information
    209 Midway Blvd Elyria, OH 44035
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    209 Midway Blvd
    Elyria, OH 44035
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    209 Midway Blvd Elyria, OH 44035
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Igal Nassim
    (516) 371-5858
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.