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Property profile & analytics

347 Midway Blvd Elyria, OH 44035

  • Office buildings
  • 11,094 SF
  • 1.32 lot acres
Value Estimation
$415,000
Last Sale
Aug 07, 2024
$405,455
Location Intelligence
Property ID
US66-6076284
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

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

by Realmo proprietary methodology Last update: July 3, 2025
  • 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

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$24,083
$46,200
$268,800
$315,000
-
$132,000
$768,000
$900,000
More about this property
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