347 Midway Blvd Elyria, OH 44035
- Office buildings
- 11,094 SF
- 1.32 lot acres
Current Use by Public Records
- Rauser & Associates Legal Clinic LLP / Law Firm / Bankruptcy Attorney
- Dr. Rakesh Ranjan / Psychiatrist
- Campbell Paula A / Social Worker
- Dea Manges / Social Worker
- Jessica Adams / Social Worker
Property Details for 347 Midway Blvd
- Year built
- 1973
- Lot size
- 1.32 lot acres
- Property size
- 11,094 SF
- Property type
- Office buildings
- APN
- 06-24-031-106-038
- APU
- 624031106038
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $405,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $440,000
- 6.5%
- $480,000
- 7%
- $415,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $505,000
- Geo Method
- $475,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $410,000
- Retail
- $370,000
- Mixed-Use
- $415,000
- Hospitality
- $375,000
- Educational
- $445,000
- Residential Income
- $450,000
- Energy
- $370,000
- Income-Based Land
- $455,000
- Food Service
- $395,000
Location Insight
- Map
- Local Demand
- City
- Elyria
- County
- Lorain
- State
- Ohio
- Longitude
- -82.1095
- Latitude
- 41.3991
- CBSA code
- 17460
- CBSA name
- CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA