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Property profile & analytics
FOR LEASE
Banks

361 Midway Blvd Elyria, OH 44035

3,736 SF 0.66 ac lot Built 1969
Entity Owned 1-yr Hold Free & Clear
Property ID
US66-5356673
Property summary
AI-generated overview

This exceptional 3,736 square foot freestanding retail space, formerly a bank branch, presents a unique opportunity in Elyria, Ohio. Located at 361 Midway Blvd, this single-tenant property sits on a 0.66-acre lot and boasts excellent visibility. The building's zoning is Business General District (G-B), offering flexibility for a variety of uses. Its strategic location directly across from ICP's $42 million Midway Mall redevelopment project ensures high traffic and significant future growth potential. The property features ample space for customization and adaptation to suit a wide range of businesses. The address is easily accessible from Moran Ave, providing convenient access for customers and employees. The property's APN is 06-24-031-106-037, and it is situated in Lorain County, Ohio, zip code 44035. This is an ideal location for businesses seeking high visibility and proximity to a major redevelopment project. The entire 3,736 square feet is currently vacant and ready for immediate occupancy. Don't miss this chance to establish your business in a thriving area with significant future development.

Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1969
Total area 3,736 SF
Lot 0.66 ac (28,750 SF)
APN 06-24-031-106-037
UPID US66-5356673
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
  • Chemical Bank Bank Loan Service
  • Huntington Bank Bank Loan Service
  • Huntington Bank ATM (Drive-Up) Atm
  • ATM First Place Bank Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
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by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
Midway25 LLC · 1 yrs held
Midway25 LLC
since 2025
Last sale
$285,000
3 recorded transactions
2025
$285,000
2024
$200,000
2012
Price N/A
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?”
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