Freestanding Industrial Building For
For Sale
Contact for pricing
561 Ternes Ave, Elyria, OH 44035
Industrial building with manufacturing and assembly space, accessible location.
Property Size15,496 SF
Price / SF$65.82
Days on Market241
Property Features for 561 Ternes Ave
General Information
Standard status
Active
Size
15,496 SF
Class
C
Property subtype
Industrial
Zoning
Industrial
Building Details
Year Built
1970
Units
3
Tenancy
Multi
Listing Agency:
Cushman & Wakefield | CRESCO Real Estate
Listed By:
Eliot Kijewski · License #OH SAL.2003003809
(216) 525-1487
Source:
Crexi
Added: Feb 7
Changed: Sep 28
Last Checked: Oct 5 at 6:28PM
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 Cushman & Wakefield | CRESCO Real Estate
Investment Insights
Based on property information with market context.
This freestanding industrial building offers 15,496 square feet of partially climate-controlled manufacturing and assembly space. The property is located in a high-image industrial setting and provides easy access to major interstates I-90 and I-80 (Ohio Turnpike). The layout features minimal columns, allowing for maximum operational flexibility. Signage opportunities are available along Ternes Lane. The property is easily accessible from the Lorain County transit bus line. Elyria is noted as a business-friendly community with an excellent labor market.
Key Highlights
- Easy access to major interstates I‑90 & I‑80 (Ohio Turnpike).
- Partially climate controlled manufacturing and assembly space.
- Minimal columns allows for maximum flexibility with operations.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,540
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,170,800
$1.2M
Cap Rate 7%
$836,286
$836.3K
Cap Rate 9%
$650,444
$650.4K
Market Conditions
NOI Build-Up for 15,496 SF
Gross rent
$86.9K $5.61/SF
− Vacancy
−$3.3K −$0.21/SF
EGI
$83.6K $5.40/SF
− OpEx
−$25.1K −$1.62/SF
NOI
$58.5K $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%
$1,170,800
Cap Rate 7%
$836,286
Cap Rate 9%
$650,444
Alternative Uses
Best Use
Industrial
$836.3K
$731.8K – $975.7K
NOI $58,540 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.90M
$3.42M – $4.56M
NOI $273,349 @ 7.0% cap · market cap 26.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
41
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial building with manufacturing and assembly space, accessible location.
Where is this manufacturing property located?
The property is located at 561 Ternes Ave Elyria, OH.
What is the asking price?
The asking price for this property is $1,020,000.
What are key features of this property?
This property features: Easy access to major interstates I‑90 & I‑80 (Ohio Turnpike).; Partially climate controlled manufacturing and assembly space.; Minimal columns allows for maximum flexibility with operations.
