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    661 Griswold Rd Elyria, OH 44035

    For Sale
    $195,000

    One-acre commercial lot, ideal for diverse uses.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional one-acre commercial land parcel, located at 661 Griswold Road in Elyria, Ohio, presents a remarkable investment opportunity. Priced at $195,000, this property boasts a highly desirable B-G (Business General) zoning classification. This versatile zoning allows for a wide range of commercial developments, including hotels, medical facilities, office spaces, banks, retail establishments, and various service businesses. The property's strategic location ensures high visibility and accessibility, benefiting from significant traffic counts on nearby Lorain Boulevard, totaling 37,558 vehicles. The expansive one-acre lot provides ample space for construction and development, catering to a variety of project scales and scopes. Situated in Lorain County, Ohio, with a 44035 zip code, this property offers convenient access to local amenities and transportation networks. This is a rare opportunity to acquire a prime commercial lot in a thriving Ohio community, poised for significant growth and development. The property's location and zoning make it an attractive investment for both established businesses seeking expansion and entrepreneurs looking to establish a new venture. Don't miss this chance to secure a piece of Elyria's commercial landscape.

    Property Features for 661 Griswold Rd

    General Information

    Property type
    Land
    Lot Size
    43,560 SF

    HighLights

    • $195,000 asking price.
    • One‑acre commercial land parcel.
    • B‑G (Business General) zoning, allowing for diverse uses including hotels, medical facilities, offices, banks, retail, and service businesses.
    • High traffic count of 37,558 vehicles on nearby Lorain Boulevard.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elyria
    County
    Lorain
    State
    Ohio
    Longitude
    -82.119226
    Latitude
    41.400807

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    FAQs

    What type of property is this?
    Land - One-acre commercial lot, ideal for diverse uses.
    Where is this land located?
    The property is located at 661 Griswold Rd Elyria, OH.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: $195,000 asking price.; One-acre commercial land parcel.; B-G (Business General) zoning, allowing for diverse uses including hotels, medical facilities, offices, banks, retail, and service businesses.
    (216) 239-5120
    Request Owner's contact information
    661 Griswold 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
    661 Griswold Rd Elyria, OH 44035
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