Triplex Office Building with
445 Griswold Rd Elyria, OH 44035
445 Griswold Rd, Elyria, OH, 44035
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For Sale
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Single-story brick triplex office is fully leased with private restrooms, individual HVAC, and an absolute NNN structure.
Property Size2,592 SF
Price / SF$165.90
Days on Market91
Property Features for 445 Griswold Rd
General Information
- Standard status
- Active
- Size
- 2,592 SF
- Property subtype
- Office
Listing agency
Trinity Commercial Realty
(216) 402-8000
Listed by
Gary Pescatrice · License #OH 0000241394
Source
Crexi
Added: Apr 23 Updated: Jul 22 at 10:55AM Checked: Jul 22 at 10:55AM
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 Trinity Commercial Realty
Investment Insights
Based on property information with market context.
This single-story brick triplex office building is fully occupied and offered as a stabilized investment. The property is arranged as three office units, and each unit includes private restrooms, individual HVAC systems, and front and rear entrances. Professional building systems and amenities include security system coverage, signage, full carpeting, and central air conditioning throughout the building.
Located at 445 Griswold Rd in Elyria, OH, the site is positioned for strong accessibility and visibility along Griswold Road. Convenient connections are noted to I-90, SR 57, SR 2, and I-80. The property also includes 18 shared parking spaces, with additional land identified that may support expanded parking.
Zoned B-G (Business General), the building is described as accessible with a no-steps configuration.
Located at 445 Griswold Rd in Elyria, OH, the site is positioned for strong accessibility and visibility along Griswold Road. Convenient connections are noted to I-90, SR 57, SR 2, and I-80. The property also includes 18 shared parking spaces, with additional land identified that may support expanded parking.
Zoned B-G (Business General), the building is described as accessible with a no-steps configuration.
Key Highlights
- 2,592 SF single‑story brick triplex office building with 3 units, 100% occupied
- Absolute NNN lease structure reported, designed for minimal landlord responsibilities
- Each unit includes private restrooms, individual HVAC, and front and rear entrances
Local Financial Insights For Office B
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 | $51.3k | $19.80 |
| − Vacancy | −$7.7k | −$2.97 |
| EGI | $43.6k | $16.83 |
| − OpEx | −$10.9k | −$4.21 |
| NOI | $32.7k | $12.62 |
2,592 SF · lease $19.80/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$467.4K
$409.0K – $545.3K
NOI $32,718 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Cleaning Authority – West ...
Hardware & Home Improvement
Prezision Pro
Carpet & Flooring Store
Roto-Rooter Plumbing & Water ...
Plumbing Service
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FAQs
What type of property is this?
Office units - Single-story brick triplex office is fully leased with private restrooms, individual HVAC, and an absolute NNN structure.
Where is this office units located?
The property is located at 445 Griswold Rd Elyria, OH.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 2,592 SF single‑story brick triplex office building with 3 units, 100% occupied; Absolute NNN lease structure reported, designed for minimal landlord responsibilities; Each unit includes private restrooms, individual HVAC, and front and rear entrances
