Building Details

Year Built 1972

Listing Agency: Home Equity Realty Group

Listed By: Roger L Nair · License #2011001849 Show Phone

Source: Theacclaimedrealty

Added: Jul 31 Changed: Sep 14 Last Checked: Oct 7 at 1:07PM

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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 / Yr

$5,667

Cap Rate

4.05%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $15,088 @ 7.0% cap · market cap 10.78%

Second Best

Industrial

$81.0K

$70.8K – $94.5K (±1% cap)

NOI $5,667 @ 7.0% cap · market cap 4.05%

Theoretical Best

Office A

$378.0K

$330.8K – $441.0K (±1% cap)

NOI $26,460 @ 7.0% cap · market cap 18.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Grenade Garage Auto Repair Shop

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Skin Care Clinic Parking Lot & Garage Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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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