Multi-Bay Car
For Sale
$198,900
827 Middle Avenue, Elyria, OH 44035
An attached utility and office area complements the building’s wash-bay configuration.
Property Size2,880 SF
Price / SF$69.06
Days on Market292
Property Features for 827 Middle Avenue
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Business
Additional Details
Real Estate Included
Yes
Taxes and HOA fees
Annual Taxes
$2,667
Building Details
Building Size
2,880 SF
Year Built
1990
Listing Agency:
Life Stages Realty LLC
Listed By:
Nicolette Kuebeler · License #2022002552
(330) 322-3637
Source:
Lifestagesrealty
Added: Jan 8
Changed: Oct 26
Last Checked: Oct 26 at 2:36PM
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 Life Stages Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1990, this 2,880-square-foot property was previously operated as a car wash and has multiple bays. An attached area provides utility and office space.
The property occupies a corner in downtown Elyria, with entrances on both its north and south sides. Schools are nearby.
The property occupies a corner in downtown Elyria, with entrances on both its north and south sides. Schools are nearby.
Key Highlights
- 2,880‑square‑foot former car wash
- Multiple wash bays
- Attached utility and office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,880
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$217,600
$217.6K
Cap Rate 7%
$155,429
$155.4K
Cap Rate 9%
$120,889
$120.9K
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$16.2K $5.61/SF
− Vacancy
−$614 −$0.21/SF
EGI
$15.5K $5.40/SF
− OpEx
−$4.7K −$1.62/SF
NOI
$10.9K $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%
$217,600
Cap Rate 7%
$155,429
Cap Rate 9%
$120,889
Alternative Uses
Best Use
Specialty Retail
$443.4K
$388.0K – $517.3K
NOI $31,039 @ 7.0% cap · market cap 15.61%
Second Best
Retail
$413.9K
$362.1K – $482.8K
NOI $28,970 @ 7.0% cap · market cap 14.57%
Theoretical Best
Office A
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 25.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Mr Hero
Dining
3,311 visits/mo
0.3 miles
SUBWAY
Dining
1,248 visits/mo
0.5 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Car wash - An attached utility and office area complements the building’s wash-bay configuration.
Where is this car wash located?
The property is located at 827 Middle Avenue Elyria, OH.
What is the asking price?
The asking price for this property is $198,900.
What are key features of this property?
This property features: 2,880‑square‑foot former car wash; Multiple wash bays; Attached utility and office area
