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    347 Midway Blvd Elyria, OH 44035

    Sponsored
    For Lease
    $9 SF/Yr

    Elyria, OH Office Space Available

    Lot size:
    33,282 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Midway Plaza, a three-story Class B office building in Elyria, Ohio, offers 33,282 square feet of versatile space ideal for traditional or medical office uses. Built in 1973 and renovated in 2024, this single building property sits on a 1.32-acre lot (57,499 sq ft) and features 14 suites, with 22,929 square feet currently vacant. Available spaces range from approximately 1,210 to 8,857 contiguous square feet, located on the first, second, and third floors. Amenities include an elevator, 80 parking spaces, and suites boasting large meeting rooms, private bathrooms, and kitchen/break rooms. The property enjoys a prime location off I-90 and the Ohio Turnpike, surrounded by restaurants and retail, and directly across from the Midway Mall, slated for redevelopment as a health, wellness, and industrial innovation park. The asking rate is $15-16 per square foot, plus electricity. The property's APN is 0624031106038. This is an excellent opportunity for businesses seeking convenient and well-appointed office space in a rapidly developing area.

    Property Features for 347 Midway Blvd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    33,282 SF
    Class
    B
    Total Rate
    24961.5

    Building Details

    Year Built/Renovated
    1973/2024
    Buildings
    1
    Stories
    3

    Unit(s) available at that property

    Space
    205/210
    Size
    2,898 SF
    Rate per SF
    $10
    Space
    215
    Size
    3,471 SF
    Rate per SF
    $10
    Space
    204
    Size
    1,487 SF
    Rate per SF
    $11
    Space
    202
    Size
    1,210 SF
    Rate per SF
    $11
    Space
    306
    Size
    4,480 SF
    Rate per SF
    $9
    Space
    101
    Size
    3,183 SF
    Rate per SF
    $10
    Space
    300,310,312
    Size
    4,377 SF
    Rate per SF
    $9

    HighLights

    • Class B, three‑story office building totaling 33,282 square feet in Elyria, OH.
    • Recently renovated (2024), situated on a 1.32‑acre lot with 80 parking spaces.
    • Features 14 suites, with 22,929 square feet currently available for lease.
    • Suite sizes range from 1,210 to 8,857 contiguous square feet.
    • Prime location off I‑90 and the Ohio Turnpike, across from a redeveloping Midway Mall.
    • Asking rent: $15‑16/SF, plus electricity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rauser & Associates Legal ... Law Firm Dr. Rakesh Ranjan Psychiatrist Campbell Paula A Social Worker Dea Manges Social Worker Jessica Adams Social Worker

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elyria
    County
    Lorain
    State
    Ohio
    Longitude
    -82.1094459
    Latitude
    41.3990264

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    FAQs

    What type of property is this?
    Medical office - Elyria, OH Office Space Available
    Where is this medical office located?
    The property is located at 347 Midway Blvd Elyria, OH.
    What is the lease rate?
    The lease rate is $9-$11 SF/Yr.
    What are key features of this property?
    This property features: Class B, three-story office building totaling 33,282 square feet in Elyria, OH.; Recently renovated (2024), situated on a 1.32-acre lot with 80 parking spaces.; Features 14 suites, with 22,929 square feet currently available for lease.
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    347 Midway Blvd Elyria, OH 44035
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    Elyria, OH 44035
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    347 Midway Blvd Elyria, OH 44035
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