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    38550 Chestnut Ridge Rd Elyria, OH 44035

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    For Sale
    Contact for pricing

    9.71 Acres, High-Traffic Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 9.71-acre commercial land parcel presents a prime development opportunity in Elyria, Ohio. Located at 38550 Chestnut Ridge Rd, 44035, this high-visibility site boasts a daily traffic count exceeding 38,000 vehicles at the intersection. The property's strategic location places it in close proximity to a thriving retail corridor, anchored by established businesses such as Walmart Supercenter, Cleveland Clinic, Petco, and Discount Drug Mart. Further enhancing its appeal, the site benefits from the recent addition of a Sheetz and an Aldi, indicating a strong and growing commercial presence in the immediate area. The property is classified as commercial land and offers significant potential for a variety of development projects, capitalizing on the high traffic volume and established retail environment. Its location in Lorain County, Ohio, provides easy access to major transportation routes and a robust local economy. This is an exceptional opportunity for developers seeking a high-impact location with significant growth potential. The property's size and location make it ideal for a variety of commercial uses, offering a compelling investment prospect in a dynamic market. Detailed site plans and further information are available upon request.

    Property Features for 38550 Chestnut Ridge Rd

    General Information

    Property type
    Land
    Lot Size
    422,968 SF

    HighLights

    • 9.71‑acre commercial land parcel in Elyria, OH.
    • High‑visibility location at 38550 Chestnut Ridge Rd, 44035, with over 38,000 daily vehicle traffic counts.
    • Prime location near Walmart, Cleveland Clinic, Petco, Discount Drug Mart, Sheetz, and Aldi.
    • Significant development potential due to high traffic and established retail environment.
    • Easy access to major transportation routes in Lorain County, OH.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chestnut Ridge Baptist ... Baptist Church Restored Counseling Counselor True Relationships Family Counselor

    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
    -82.068241031933
    Latitude
    41.343426551044

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    FAQs

    What type of property is this?
    Land - 9.71 Acres, High-Traffic Location
    Where is this land located?
    The property is located at 38550 Chestnut Ridge Rd Elyria, OH.
    What are key features of this property?
    This property features: 9.71-acre commercial land parcel in Elyria, OH.; High-visibility location at 38550 Chestnut Ridge Rd, 44035, with over 38,000 daily vehicle traffic counts.; Prime location near Walmart, Cleveland Clinic, Petco, Discount Drug Mart, Sheetz, and Aldi.
    (216) 381-8200
    Request Owner's contact information
    38550 Chestnut Ridge Rd 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
    38550 Chestnut Ridge Rd Elyria, OH 44035
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