Warehouse and Office Flex
225 East Ave Elyria, OH 44035
For Sale
Contact for pricing
Flex warehouse with dock and office space, 3,000-amp 3-phase power, and sprinklered throughout.
Property Size79,851 SF
Price / SF$46.90
Days on Market247
Property Features for 225 East Ave
General Information
Standard status
Active
Size
79,851 SF
Property subtype
INDUSTRIAL
Listing Agency:
Gerspacher Real Estate Group
(216) 470-4545
Listed By:
Troy Gerspacher, CCIM, SIOR · License #OH SAL2022006764
(216) 470-4545
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 26
Last Checked: Jul 28 at 1:51PM
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 Gerspacher Real Estate Group
Investment Insights
Based on property information with market context.
This flex warehouse and office building offers available space totaling approximately 79,851 SF, with the first floor comprising warehouse area and office space. The building also includes a second floor, a basement, and an additional 17,412 SF of office space. Improvements include sprinklered throughout, and the facility is supported by high power 3-phase electrical service (3,000 amps at 480V) along with a backup CAT generator.
Operational loading includes two docks, one drive-in door, and eight box truck doors. Site amenities include 93+ parking spaces, and the property provides frontage along East Avenue, 2nd Street, and 3rd Street. Zoning is listed as BD (Business Downtown), and the property is identified as being located in an opportunity zone.
Highway access is described as 4 miles to I-90 and 3 miles to the Ohio Turnpike.
Operational loading includes two docks, one drive-in door, and eight box truck doors. Site amenities include 93+ parking spaces, and the property provides frontage along East Avenue, 2nd Street, and 3rd Street. Zoning is listed as BD (Business Downtown), and the property is identified as being located in an opportunity zone.
Highway access is described as 4 miles to I-90 and 3 miles to the Ohio Turnpike.
Key Highlights
- ±79,851 SF flex warehouse available with office and basement space
- Frontage of 365’ on East Avenue, 362’ on 2nd Street, and 274’ on 3rd Street
- High power 3‑phase service: 3,000 amps, 480 V, plus back‑up CAT generator
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $527.0k | $6.60 |
| − Vacancy | −$18.4k | −$0.23 |
| EGI | $508.6k | $6.37 |
| − OpEx | −$178.0k | −$2.23 |
| NOI | $330.6k | $4.14 |
79,851 SF · lease $6.60/SF/yr · vacancy 3.50% · expense 35.00%
Alternative Uses
Best Use
Office B
$14.40M
$12.60M – $16.80M
NOI $1,007,919 @ 7.0% cap · market cap 26.91%
Second Best
Warehouse
$5.23M
$4.58M – $6.11M
NOI $366,300 @ 7.0% cap · market cap 9.78%
Theoretical Best
Office A
$20.12M
$17.61M – $23.48M
NOI $1,408,572 @ 7.0% cap · market cap 37.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse with dock and office space, 3,000-amp 3-phase power, and sprinklered throughout.
Where is this flex space located?
The property is located at 225 East Ave Elyria, OH.
What is the asking price?
The asking price for this property is $3,745,000.
What are key features of this property?
This property features: ±79,851 SF flex warehouse available with office and basement space; Frontage of 365’ on East Avenue, 362’ on 2nd Street, and 274’ on 3rd Street; High power 3‑phase service: 3,000 amps, 480 V, plus back‑up CAT generator
