Elyria Mixed-Use Investment
For Sale
Contact for pricing
154 Woodbury St, Elyria, OH 44035
Mixed-use property with commercial space, residential units, and warehouse.
Property Size3,552 SF
Price / SF$75.73
Days on Market173
Property Features for 154 Woodbury St
General Information
Standard status
Active
Size
3,552 SF
Property subtype
Retail, Multifamily, Industrial, Mixed Use
Investment Type
Owner/User
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
Home Equity Realty Group
(330) 350-0016
Listed By:
Roger Nair · License #OH 2011001849
Source:
Crexi
Added: Feb 20
Changed: Aug 12
Last Checked: Aug 11 at 8:14PM
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 Home Equity Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property in Elyria presents an investment opportunity, featuring a layout that combines commercial and residential spaces. The main level offers flexible commercial space, complemented by residential unit(s) above, creating multiple income streams. A warehouse shop area includes its own restroom and office area. The property also features two remodeled apartments upstairs and garage doors for warehouse access. Separate utilities and off-street parking are available. Its location provides convenient access to major roadways and proximity to downtown amenities. The property offers a functional floor plan. The building has a total size of 3552 square feet. This property is suitable for investors seeking cash flow and long-term appreciation.
Key Highlights
- Mixed‑use property offers multiple income streams with commercial space and residential unit(s).
- Warehouse shop area includes a restroom, office, and garage door access.
- Two remodeled apartments upstairs provide modern living spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,294
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$325,880
$325.9K
Cap Rate 7%
$232,771
$232.8K
Cap Rate 9%
$181,044
$181.0K
Market Conditions
NOI Build-Up for 3,552 SF
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.
Gross rent
$19.9K $5.61/SF
− Vacancy
−$757 −$0.21/SF
EGI
$19.2K $5.40/SF
− OpEx
−$2.9K −$0.81/SF
NOI
$16.3K $4.59/SF
Area
Lorain County, OH
Vacancy
3.80%
Lease Rate
$5.61 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$325,880
Cap Rate 7%
$232,771
Cap Rate 9%
$181,044
Alternative Uses
Best Use
Mixed Use
$525.2K
$459.5K – $612.7K
NOI $36,763 @ 7.0% cap · market cap 13.67%
Second Best
Retail
$510.4K
$446.6K – $595.5K
NOI $35,730 @ 7.0% cap · market cap 13.28%
Theoretical Best
Office A
$895.1K
$783.2K – $1.04M
NOI $62,657 @ 7.0% cap · market cap 23.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with commercial space, residential units, and warehouse.
Where is this mixed-use property located?
The property is located at 154 Woodbury St Elyria, OH.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Mixed‑use property offers multiple income streams with commercial space and residential unit(s).; Warehouse shop area includes a restroom, office, and garage door access.; Two remodeled apartments upstairs provide modern living spaces.
