1412 West Ave Elyria, OH 44035
This exceptional investment opportunity presents a newly renovated 2,072 square foot storefront located at 1412 West Ave, Elyria, OH 44035. The property, built in 1900, sits on a spacious 0.13-acre, two-parcel lot offering ample parking and a convenient turnaround driveway. The storefront itself boasts abundant natural light thanks to new front windows, a half bath, and a large storage area accessible separately from the main retail space. Recent improvements include power washing, new exterior doors, and a freshly repaved blacktop driveway. Modernization extends to new electrical panels and hot water tanks for each unit. Above the storefront are three updated apartments: two one-bedroom units and one two-bedroom unit. Each apartment features fresh paint, new light fixtures, and new flooring. The basement provides additional storage space and has also been freshly painted. This property offers a unique blend of commercial and residential income potential, making it an ideal investment for those seeking a combination of business ownership and rental income. The asking price for this turnkey property is $229,900. This is a rare opportunity to acquire a well-maintained, income-generating property in a desirable location. Don't miss out!
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.