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    Property profile & analytics

    1801 Elyria Ave Lorain, OH 44052

    • Office buildings
    • 6,258 SF
    • 0.46 lot acres
    For Sale
    View listing
    $500,000
    Value Estimation
    Last Sale
    Sep 04, 2024
    $165,000
    Location Intelligence
    Property ID
    US66-5339459
    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

    • Office buildings

    Property Details for 1801 Elyria Ave

    Year built
    1965
    Lot size
    0.46 lot acres
    Property size
    6,258 SF
    Property type
    Office buildings
    APN
    02-01-003-150-008
    APU
    201003150008

    Description

    This exceptional 5,000-square-foot mixed-use building in Lorain, OH, presents a unique investment opportunity. Currently configured as a fully operational daycare center, the property is offered complete with all existing furnishings and equipment, making it ideal for immediate occupancy. The sale includes a substantial 0.46-acre lot providing ample space and 27 parking spots for clients and staff. A convenient loading bay enhances operational efficiency. Significant recent upgrades to the building's mechanical systems, encompassing HVAC, electrical, and plumbing, ensure long-term functionality and reduced maintenance costs. The flexible floor plan allows for continued use as a daycare or seamless conversion to office space or another mixed-use configuration. Located at 1801 Elyria Avenue, this property benefits from a prime location within the city of Lorain. This well-maintained building offers a rare chance to acquire a turnkey operation or a readily adaptable space for a new venture. The asking price is $500,000. This represents a compelling investment in a versatile commercial property with significant potential.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $165,000

    • CAP approach

      CAP return
      Estimation
      6%
      $175,000
      6.5%
      $155,000
      7%
      $160,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $175,000
      Geo Method
      $185,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $170,000
      Retail
      $145,000
      Mixed-Use
      $175,000
      Hospitality
      $145,000
      Educational
      $170,000
      Residential Income
      $165,000
      Energy
      $155,000
      Income-Based Land
      $190,000
      Food Service
      $150,000

    Location Insight

    • Map
    • Local Demand
    City
    Lorain
    County
    Lorain
    State
    Ohio
    Longitude
    -82.1649
    Latitude
    41.4546
    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
    $8,809
    $21,039
    $91,074
    $112,113
    -
    $60,110
    $260,210
    $320,320

    Comparable in this City

    • Value Estimation
      $425,000
      5,673 SF

      Nn Rdg Rd

      OFFICE BUILDING • 5,673 SF
      Nn Rdg Rd, Lorain, OH 44052
      View Details
    • Value Estimation
      $200,000
      7,710 SF

      209 6th St

      OFFICE BUILDING • 7,710 SF
      209 6th St, Lorain, OH 44052-1744
      View Details
    • Value Estimation
      $195,000
      3,725 SF

      221 8th St

      OFFICE BUILDING • 3,725 SF
      221 8th St, Lorain, OH 44052-1817
      View Details
    • Value Estimation
      $275,000
      2,200 SF

      522 Broadway

      OFFICE BUILDING • 2,200 SF
      522 Broadway, Lorain, OH 44052-1732
      View Details
    • Value Estimation
      $275,000
      1,530 SF

      713 Broadway

      OFFICE BUILDING • 1,530 SF
      713 Broadway, Lorain, OH 44052-1805
      View Details
    • Value Estimation
      $295,000
      5,850 SF

      520 Broadway

      OFFICE BUILDING (MULTI-STORY) • 5,850 SF
      520 Broadway, Lorain, OH 44052-1747
      View Details

    Similar Nearby for Sale

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    • $500,000
      5,000 SF

      Lorain Mixed-Use Commercial Building

      Move-in Ready Daycare, Ample Parking
      1801 Elyria Ave, Lorain, OH 44052
      View Details
    • Contact for pricing
      0.08 Acres

      Residential Lots in Lorain, OH

      Three residential lots available in Lorain, ideal for building.
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      0.11 Acres

      Residential Lot in Lorain, OH

      Residential building lot available near Lake Erie and community amenities.
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      2.57 Acres

      Lorain, OH Commercial Land

      8.36 Acres, Prime Retail Location
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      View Details

    Similar Nearby for Lease

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      Retail spaces available in high-traffic, grocery-anchored shopping center.
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    Lorain, OH 44052
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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
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