Leased Auto
For Sale
$140,000
158 Eady Ct, Elyria, OH 44035
Currently occupied by established tenants with flexibility for continued occupancy.
Property Size1,500 SF
Price / SF$93.33
Days on Market31
Property Features for 158 Eady Ct
General Information
Standard status
Active
Size
1,500 SF
Occupancy
100%
Building Details
Year Built
1972
Listing Agency:
Home Equity Realty Group
(330) 350-0016
Listed By:
Roger L Nair · License #2011001849
Source:
Theacclaimedrealty
Added: Jul 31
Changed: Aug 28
Last Checked: Aug 29 at 11:33AM
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 auto shop property is currently fully leased and has been maintained in good condition. The existing occupants have maintained a long-term presence, supporting continuity for a new owner. Continued occupancy may be available, or the tenancy can transition to a month-to-month arrangement. Constructed in 1972, the property is located at 158 Eady Ct in Elyria, Ohio.
Key Highlights
- Fully leased auto shop property
- Established long‑term tenant presence
- Continued occupancy may be available
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
$5,667
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
4.05%
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%
$113,340
$113.3K
Cap Rate 7%
$80,957
$81.0K
Cap Rate 9%
$62,967
$63.0K
Market Conditions
NOI Build-Up for 1,500 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
$8.4K $5.61/SF
− Vacancy
−$320 −$0.21/SF
EGI
$8.1K $5.40/SF
− OpEx
−$2.4K −$1.62/SF
NOI
$5.7K $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 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%
$113,340
Cap Rate 7%
$80,957
Cap Rate 9%
$62,967
Alternative Uses
Best Use
Retail
$215.5K
$188.6K – $251.5K
NOI $15,088 @ 7.0% cap · market cap 10.78%
Second Best
Industrial
$81.0K
$70.8K – $94.5K
NOI $5,667 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$378.0K
$330.8K – $441.0K
NOI $26,460 @ 7.0% cap · market cap 18.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
73k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 36%
Superstores 28%
Big Lots
Superstores
20,404 visits/mo
0.3 miles
Dollar Tree
Shops & Services
13,959 visits/mo
0.3 miles
Wendy's
Dining
13,347 visits/mo
0.2 miles
Rally's
Dining
9,340 visits/mo
0.2 miles
Huntington Bank
Shops & Services
7,440 visits/mo
0.3 miles
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sunnyside Collision Center — 1100 E Broad St, Elyria, OH 44035
- Sunnyside Chevrolet Service — 1100 E Broad St, Elyria, OH 44035
- Transunlimited — 246 S Logan St, Elyria, OH 44035
- Firestone Complete Auto Care — 520 S Abbe Rd, Elyria, OH 44035
- Branham Automotive — 145 Reaser Ct, Elyria, OH 44035
Frequently Asked Questions
What type of property is this?
Auto shop - Currently occupied by established tenants with flexibility for continued occupancy.
Where is this auto shop located?
The property is located at 158 Eady Ct Elyria, OH.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Fully leased auto shop property; Established long‑term tenant presence; Continued occupancy may be available
