Manufacturing Facility with Loading
New
For Sale
$1,700,000
123 Gateway Blvd N, Elyria, OH 44035
A multi-component industrial building combines production, storage, administrative, and customer-facing space.
Property Size35,088 SF
Price / SF$48.45
Days on Market5
Property Features for 123 Gateway Blvd N
General Information
Standard status
Active
Size
35,088 SF
Zoning
CO
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Property Use
Manufacturing
Building Details
Building Size
35,088 SF
Listing Agency:
eXp Commercial - OH
Listed By:
Christopher Millhorn · License #SAL.2021005314
(330) 241-0908
Source:
Expcommercial
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 24 at 1:26PM
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 eXp Commercial - OH
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Investment Insights
Based on property information with market context.
This 35,088-square-foot manufacturing property in Elyria, Ohio, brings together warehouse and storage areas, multiple offices, an integrated storefront, and loading docks. The building is in average condition and is served by electric and gas. Its configuration accommodates manufacturing, production, and storage functions, with administrative and customer-facing areas incorporated into the facility. Zoning is CO.
A large parking area sits at the front of the property, and the site has frontage on three streets. The address is 123 Gateway Blvd N, positioned off Lorain Blvd. The combination of loading infrastructure, varied interior components, and multiple street frontages provides practical flexibility for industrial operations.
A large parking area sits at the front of the property, and the site has frontage on three streets. The address is 123 Gateway Blvd N, positioned off Lorain Blvd. The combination of loading infrastructure, varied interior components, and multiple street frontages provides practical flexibility for industrial operations.
Key Highlights
- 35,088‑square‑foot manufacturing property
- Loading docks, warehouse space, and multiple storage warehouses
- Multiple offices and an integrated storefront
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,555
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,651,100
$2.7M
Cap Rate 7%
$1,893,643
$1.9M
Cap Rate 9%
$1,472,833
$1.5M
Market Conditions
NOI Build-Up for 35,088 SF
Gross rent
$196.8K $5.61/SF
− Vacancy
−$7.5K −$0.21/SF
EGI
$189.4K $5.40/SF
− OpEx
−$56.8K −$1.62/SF
NOI
$132.6K $3.78/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,651,100
Cap Rate 7%
$1,893,643
Cap Rate 9%
$1,472,833
Alternative Uses
Best Use
Warehouse
$2.30M
$2.01M – $2.68M
NOI $160,959 @ 7.0% cap · market cap 9.47%
Second Best
Industrial
$1.89M
$1.66M – $2.21M
NOI $132,555 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$8.84M
$7.74M – $10.32M
NOI $618,952 @ 7.0% cap · market cap 36.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
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Business Placement
Demographics for 44035, OH
61,921
Population
29,637
Households
2.1
Avg Household Size
42
Median Age
17%
College-Educated
88%
High-School Grad
47.6 sq mi
ZIP Area
1,301
Density / Sq Mi
$54,362
Median Household Income
$38,493
Median Earnings
$871
Median Rent
$147,600
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - A multi-component industrial building combines production, storage, administrative, and customer-facing space.
Where is this manufacturing property located?
The property is located at 123 Gateway Blvd N Elyria, OH.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 35,088‑square‑foot manufacturing property; Loading docks, warehouse space, and multiple storage warehouses; Multiple offices and an integrated storefront
