561 Ternes Lane, Elyria, OH 44035

Building Details

Building Size 15,496 SF More

Year Built 2026 More

Listing Agency: Cushman & Wakefield | CRESCO Real Estate

Listed By: Cole Sorenson · License #OH SAL.2020004576 Show Phone

Source: Cushmanwakefield

Added: Jul 29 Changed: Nov 3 Last Checked: Nov 6 at 5:35AM

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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 Cushman & Wakefield | CRESCO Real Estate

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Freestanding manufacturing and assembly building offering partially climate controlled space. The layout includes minimal columns, which can support more flexible manufacturing and operating configurations.

The property is positioned in a high-image industrial setting with easy access to major interstates I-90 & I-80 (Ohio Turnpike). It also offers signage opportunities along Ternes Lane and is easily accessible from the Lorain County transit bus line.

With approximately 15,496 square feet of manufacturing and assembly space, the building is designed to accommodate practical industrial workflows where layout flexibility matters.

Key Highlights

• Partially climate controlled manufacturing and assembly space
• Freestanding industrial building in a high‑image industrial setting
• Minimal columns for maximum operational flexibility

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

Is this asking price fair?

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 (±1% cap)

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 (±1% cap)

NOI $273,349 @ 7.0% cap · market cap 26.80%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon

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

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

484

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

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Freestanding manufacturing and assembly space with partial climate control and minimal columns for operational flexibility.

Where is this manufacturing property located?

The property is located at 561 Ternes Lane 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: Partially climate controlled manufacturing and assembly space; Freestanding industrial building in a high‑image industrial setting; Minimal columns for maximum operational flexibility