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Property profile & analytics
FOR LEASE
Office buildings

347 Midway Blvd Elyria, OH 44035

11,094 SF 1.32 ac lot Built 1973
Entity Owned 1-yr Hold Free & Clear
Property ID
US66-6076284
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1973
Total area 11,094 SF
Lot 1.32 ac (57,499 SF)
APN 06-24-031-106-038
UPID US66-6076284
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Rauser & Associates Legal Clinic LLP Law Firm
  • Dr. Rakesh Ranjan Physician
  • Campbell Paula A Foster Care Service Social Service Agency
  • Dea Manges Foster Care Service Social Service Agency
  • Jessica Adams Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
347 Midway Blvd LLC · 1 yrs held
347 Midway Blvd LLC
since 2024
Last sale
$405,455
2 recorded transactions
2024
$405,500
2007
$1.5M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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